Australian lithium miner Ioneer announced on July 8 that it has signed separate non-binding memorandums of understanding (MOUs) with South Korea's Korea Overseas Infrastructure & Urban Development Corporation (KIND) and Hyundai Engineering to support the development of its Rhyolite Ridge lithium-boron project.
Under the MOUs, KIND is considering an equity investment in the project, while Hyundai Engineering is evaluating the provision of procurement-related activities. Ioneer Executive Chairman James Calaway stated, "With the entry into MOUs with KIND and Hyundai Engineering, we are one step closer to a Final Investment Decision."
Once operational, Rhyolite Ridge will process ore into final products entirely on-site and is expected to create and support 275 to 300 permanent jobs in rural Nevada. However, Ioneer noted that there is no certainty the MOUs will result in legally binding agreements.
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