{"id":40439,"date":"2023-01-15T12:04:08","date_gmt":"2023-01-15T17:04:08","guid":{"rendered":"https:\/\/autosector.com\/?p=40439"},"modified":"2023-01-15T12:04:08","modified_gmt":"2023-01-15T17:04:08","slug":"biden-lithium-mine-loan-ford-toyota-supplier","status":"publish","type":"post","link":"http:\/\/autosector.com\/?p=40439","title":{"rendered":"Biden backs Nevada lithium mine with $700 million loan offer"},"content":{"rendered":"

A Nevada lithium mine that would be only the second in the U.S. is getting backing from the Biden administration as it seeks to boost the domestic supply of the critical mineral needed to make electric vehicle<\/a> batteries.\u00a0<\/p>\n

The Energy Department issued a conditional commitment for up to $700 million for Ioneer Ltd.\u2019s Rhyolite Ridge Lithium-Boron Project, a prospective supplier to Ford<\/a> and Toyota<\/a> that could produce enough lithium for 370,000 electric vehicles a year. \u00a0Project partners include mining and metals processing group Sibanye Stillwater Ltd.\u00a0<\/p>\n

The funding, being made through the department\u2019s Advanced Technology Vehicles Manufacturing Loan Program, comes as the Biden administration seeks to create a domestic battery<\/a> supply chain amid a broader goal of half of vehicles sold in the US by the end of the decade\u00a0be emissions-free.\u00a0<\/p>\n

Demand for lithium, which also is used for grid storage and weapons, is projected to exceed current production by 2030. The U.S. relies on international markets for the processing of most raw materials, according to the department.\u00a0<\/p>\n

\u201cDeveloping a US\u00a0supply chain for these materials is a national priority as the country works toward energy independence,\u201d the department said in a statement. \u201cA core focus within the strategy is increasing the availability of the critical materials that are essential components of the clean energy technologies necessary for reaching national climate and economic goals.\u201d<\/p>\n

While Asia currently dominates the lithium carbonate refining process, the Rhyolite Ridge deposit is one of two known sizable lithium-boron deposits in the world, the Energy Department said.\u00a0<\/p>\n

Ioneer expects to get US approvals that will allow the company\u00a0to start building the project next year with the aim to start producing lithium in 2026, according to the company. It still needs to get final approval from the US Interior Department because public lands near the site are home to the endangered wildflower Tiehm\u2019s buckwheat.<\/p>\n

The Energy Department said the company has invested $1.2 million on research to preserve the plant and has revised its mining plan to avoid direct impacts on the plant.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

A Nevada lithium mine that would be only the second in the U.S. is getting backing from the Biden administration as it seeks to boost the domestic supply of the critical mineral needed to make electric vehicle batteries.\u00a0 The Energy Department issued a conditional commitment for up to $700 million for Ioneer Ltd.\u2019s Rhyolite Ridge […]<\/p>\n","protected":false},"author":1,"featured_media":40440,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[6],"tags":[],"class_list":["post-40439","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-workers-unions"],"_links":{"self":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts\/40439","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=40439"}],"version-history":[{"count":0,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts\/40439\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/media\/40440"}],"wp:attachment":[{"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=40439"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=40439"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=40439"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}