In an effort to strengthen the nation’s domestic battery supply chain and electrify the transportation sector, the federal government closed a $996 million loan guarantee for a controversial lithium mine on the habitat of an endangered Nevada wildflower.

A lithium-boron project on Friday closed on an almost $1 billion loan from the Department of Energy. Ioneer Limited is receiving a $996 million loan from the DOE through its Loan Programs Office under the Advanced Technology Vehicles Manufacturing program to support on-site processing of lithium-boron at its Rhyolite Ridge Lithium-Boron Project in Esmeralda County,

The U.S. Department of Energy has approved a nearly one billion dollar loan to mining company Ioneer for its Rhyolite Ridge lithium boron processing plant in Esmeralda County.

The U.S. Department of Energy has finalized a $996 million loan for ioneer's Rhyolite Ridge lithium project, according to documents reviewed by Reuters, an increase of $296 million from a preliminary funding offer and a move aimed at boosting President Joe Biden's green energy legacy.

The Department of Energy extended a loan guarantee for the construction of a processing facility for lithium, a key ingredient in electrical vehicle

Ioneer (NASDAQ:IONR) +13.7% in Friday's trading following a Reuters report that the U.S. Department of Energy has finalized a $996M loan for the company's Rhyolite Ridge lithium project in Nevada. The loan,

RENO, Nev. - Ioneer Ltd (ASX: INR, Nasdaq: IONR), a lithium-boron producer with a market capitalization of $248.57 million, has secured a $996 million loan from the U.S. Department of Energy's Loan Programs Office (LPO) to enhance the Rhyolite Ridge Lithium-Boron Project in Esmeralda County,