Ioneer's Rhyolite Ridge lithium project in Nevada has received key regulatory approvals from the U.S. Bureau of Land Management (BLM) and is expected to be a key source of supply of the metal for electric vehicle batteries. The project, 362 kilometers north of Las Vegas, is expected to produce lithium at an annual rate to meet the demand for approximately 370,000 electric vehicles.

The BLM's decision, made after more than six years of evaluating the project, is consistent with U.S. government measures to increase domestic supply of key minerals. If approved, the Rhyolite Ridge project would be the first lithium project approved by the Biden administration.

Despite challenges from environmental groups opposing mining activities due to the distribution of rare local wildflowers, BLM officials say they have worked with local, state and tribal chiefs on the environmental assessment. After the project is publicized, the public has 30 days to submit comments, after which the BLM will release an environmental impact analysis and make a decision within 30 days.

Laura Daniel Davis, Executive Deputy Secretary of the Department of the Interior, emphasized that collaboration can advance the project while protecting the environment. Lithium is a key mineral for the U.S. economy, with applications in the expanding markets for mobile electronics, electric vehicles and grid energy storage.