Australia's Ioneer signs MoUs with S Korea's KIND, Hyundai Engineering for lithium-boron project
FILE PHOTO: The Hyundai logo is seen in London, Britain, April 16, 2025. REUTERS/Maja Smiejkowska/File Photo
July 8 : Australian lithium miner Ioneer said on Wednesday that it has signed separate non-binding memorandums of understanding with South Korea's KIND and Hyundai Engineering to help advance its Rhyolite Ridge lithium-boron project.
Here are some details:
• Under the MOUs, Korea Overseas Infrastructure & Urban Development Corporation (KIND) is considering an equity investment in the project, and Hyundai Engineering is evaluating the provision of certain procurement-related activities for the project.
• The MoUs were signed by the firms' executives at the U.S. Department of Energy offices in Washington.
• "With the entry into MOUs with KIND and Hyundai Engineering, we are one step closer to a Final Investment Decision," Ioneer Executive Chairman James Calaway said.
• Once operational, Rhyolite Ridge will process ore into final products entirely on-site and create and support 275 to 300 permanent positions in rural Nevada, Ioneer said.
• Ioneer said there can be no certainty that the MOUs will lead to legally binding agreements.
