ioneer awards major engineering contract for development of Rhyolite Ridge lithium-boron project
ioneer aims to be the world’s “lowest cost lithium producer”.
Swedish technology company ABB Inc has been awarded an engineering and equipment supply contract for the development of ioneer’s (ASX: INR) Rhyolite Ridge lithium-boron project in the US.
The contract has been granted on a “limited notice to proceed” (LNTP) basis and is conditional on a final investment decision being made by ioneer’s board of directors.
In the meantime, ABB will begin work on systems engineering and optimisation for the project’s equipment packages, which include a steam turbine generator, medium and low voltage electrical distribution, power management and plant-wide process automation, and instrumentation systems for the project’s generation, acid and lithium processing plants.
It will utilise its “ABB Ability MineOptimise” approach to integrate individual mining solutions into a connected and structured system which optimises all stages of the Rhyolite Ridge development including open pit, underground and minerals processing operations.
The patented approach helps mining companies to extract the most value from their capital expenditure costs and maximise project productivity, sustainability and safety.
Sustainable project
ioneer managing director Bernard Rowe said the contract represents a major step towards the construction and development of a sustainable project.
“Like other suppliers we have partnered with , ABB is focused on providing environmentally-sound engineering and technology solutions,” he said.
“This aligns with our ambition to produce materials for North America’s electric vehicle and renewable energy supply chain infrastructure in an efficient and responsible manner through lowered emissions, significantly reduced water usage and a small surface footprint.”
Only known deposit
Located in Nevada, Rhyolite Ridge is the only known lithium-boron deposit in North America and one of only two such deposits in the world.
A definitive feasibility study completed in 2020 confirmed the project could become a globally-significant, long-life, low-cost source of lithium and boron vital to a sustainable future.
In September, ioneer entered a joint venture agreement with multinational precious metals mining company Sibanye Stillwater to advance Rhyolite Ridge for first production by 2024.