MoUJun 23, 2026, 07:41 AM
Ioneer Secures LOIs with KIND, Hyundai Engineering for Rhyolite Ridge
AI Summary
Ioneer Ltd announced it has secured strategic non-binding Letters of Intent (LOIs) with the Korea Overseas Infrastructure & Urban Development Corporation (KIND) and Hyundai Engineering Co. Ltd. These LOIs aim to advance the development of the Rhyolite Ridge Lithium-Boron Project, which holds significant strategic value for both the Republic of Korea and the United States. The company has invested over $220 million in the project and completed 70% of its advanced engineering work, targeting a Final Investment Decision in the second half of 2026 with first commercial production expected in 2029. The LOIs are non-binding and formal Memorandums of Understanding are expected in July 2026.
Key Highlights
- Ioneer secured non-binding LOIs with KIND and Hyundai Engineering.
- Agreements advance Rhyolite Ridge Lithium-Boron Project development.
- Rhyolite Ridge is North America's only known lithium-boron reserve.
- Ioneer invested over $220 million in the project since 2016.
- 70% of advanced engineering work for the project is complete.
- Targeting Final Investment Decision in H2 2026, production by 2029.
- Annual lithium hydroxide production expected to be 27,800 tpa.
- Annual boric acid production expected to be 135,500 tpa.
Price Impact
More from IONR