Connect with us

Energy & Critical Metals

ioneer signs lithium supply deal with Toyota-Panasonic JV

Planet Energy & Solutions will use the lithium produced from Rhyolite Ridge project to build electric vehicle batteries in US.
The post ioneer signs…

Published

on

This article was originally published by Mining Technology

Australian firm ioneer has reached a binding offtake agreement with Prime Planet Energy & Solutions for lithium produced from the Rhyolite Ridge mining project in southern Nevada, US.

Prime Planet Energy & Solutions, which is a joint battery venture of Toyota Motor and Panasonic, will use the product to manufacture electric vehicle (EV) batteries in the country.

Under the five-year agreement, ioneer will supply 4,000tpa of lithium carbonate from the Rhyolite Ridge lithium-boron operation. This represents 19% of annual output in the project’s first five years of production.

Japan-based PPES has been looking to build a battery plant in western North Carolina, US, reported Reuters.

Calaway was cited by the news agency as saying: “The whole purpose of this agreement is for this lithium to be used in the United States.”

PPES plans to incorporate refined lithium into lithium-ion batteries for EVs and promote electrification in the US.

PPES president Hiroaki Koda said: “I am delighted to have a great partnership with ioneer in the battery supply chain that can promote vehicle electrification toward realising a carbon-neutral society.

“Having an agreement with ioneer provides PPES a first step in securing a US supply of lithium, one of the most important parts for corresponding with the fast growing electrified vehicle industry.”

ioneer plans to start production from the project in 2025. The mine is expected to have operational life of 26 years.

ioneer executive chairman James Calaway said: “This and the previously announced Ford and EcoPro agreements solidify ioneer’s focus on the US Electric Vehicle supply chain infrastructure.”

The Rhyolite Ridge project is anticipated to have an average production capacity of around 20,600tpa of lithium carbonate/hydroxide and nearly 174,400tpa of boric acid.

The post ioneer signs lithium supply deal with Toyota-Panasonic JV appeared first on Mining Technology.

lithium
batteries
electric vehicle

Energy & Critical Metals

Is the Dollar Losing its Dominance? Russia Resorts to Yuan Bond Sales to Raise Capital

The West’s choking sanctions against Russia have prompted the former Soviet country to explore alternative currencies to raise capital and
The post Is…

Continue Reading
Energy & Critical Metals

KoBold Metals IPO: Will This Billionaire-Backed Startup Go Public?

The thought of a KoBold Metals IPO is gaining traction within the investing world due to the company’s billionare-backed project.
The post KoBold Metals…

Continue Reading
Energy & Critical Metals

Denison Re-Enters The Fray To Acquire UEX Corp, Bidding Higher Than Uranium Energy

Denison Mines (TSX: DML) appears to be in a competition with Uranium Energy Corp (NYSE: URC) to see whom can
The post Denison Re-Enters The Fray To Acquire…

Continue Reading

Trending