MoUJul 8, 2026, 07:46 AM
Ioneer signs MOUs with KIND, Hyundai for Rhyolite Ridge Project
AI Summary
Ioneer Ltd announced the signing of non-binding Memorandums of Understanding (MOUs) with Korea Overseas Infrastructure & Urban Development Corporation (KIND) and Hyundai Engineering Co. Ltd. These MOUs aim to advance the Rhyolite Ridge Lithium-Boron Project, with KIND considering an equity investment and Hyundai Engineering exploring procurement-related activities. The project, which has seen over US$220 million in investment and is 70% complete on advanced engineering, is strategically important for critical mineral supply chains in the US and Korea.
Key Highlights
- Ioneer signed non-binding MOUs with KIND and Hyundai Engineering.
- KIND is considering an equity investment in the Rhyolite Ridge Project.
- Hyundai Engineering is considering procurement activities for the Project.
- Rhyolite Ridge is the only known lithium-boron reserve in North America.
- Ioneer has invested over US$220 million in the project since 2016.
- The project's advanced engineering work is over 70% complete.
- The project is expected to create 275-300 permanent jobs in Nevada.
- The MOUs are non-binding and do not guarantee legally binding arrangements.
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