Lithium developer ioneer forecasts high margins for Nevada project [Reuters]
Lithium Americas Corp. Common Shares (LAC)
Last lithium americas corp. common shares earnings: 11/12 07:00 am
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Source: Reuters
Lithium developer ioneer forecasts high margins for Nevada project (Reuters) - Australian lithium developer ioneer Ltd on Wednesday forecast production costs for its Nevada lithium mine far below current prices for the white metal, implying large margins once it begins production in 2023. The forecast comes as U.S. politicians have been pushing for increased domestic mining of specialized minerals. Lithium is used to make lithium-ion batteries for electric vehicles. Albemarle Corp is the only current U.S. producer of lithium. On Wednesday, ioneer published the definitive feasibility study for its Rhyolite Ridge lithium and boron project in the northern part of Nevada, forecasting cash costs of about $2,510 per tonne of lithium carbonate. Current prices for lithium carbonate average about $7,000 per tonne, according to Benchmark Minerals Intelligence, which tracks prices for lithium and other commodities. The company still needs to obtain additional permits as well as financing for the
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