ioneer Ltd (ASX:INR)

Ioneer Ltd has announced significant enhancements in project economics for its Rhyolite Ridge Lithium-Boron Project in Nevada, USA, by optimizing leach processes. The reduction of vat leach retention time from two days to one and a half days has increased lithium and boron production while using the same amount of acid, thus improving overall project economics. The updated stage one operation has led to a 19% increase in the unlevered life of mine net present value (NPV) to US$2,237 million and an 8% increase in the internal rate of return (IRR) to 18.0%. This process optimization, combined with a higher plant throughput, positions Ioneer in the lowest cost quartile for lithium production globally with an all-in sustaining cash cost of US$4,628 per metric tonne of lithium carbonate equivalent. The unique mineralogy of Rhyolite Ridge, allowing for vat and heap leach processing, supports this operational advantage, ensuring the production of high-purity lithium and boron chemicals on-site. Furthermore, the large mineral reserve supports future project expansions to meet growing US strategic demand.