Ioneer Limited (ASX: INR)
On 25 October 2024, Ioneer Ltd received the last federal permit for its Rhyolite Ridge Lithium-Boron Project. The Bureau of Land Management issued this permit. This achievement is significant because it's the first lithium project during this Biden administration to get the green light. The project is situated in Esmeralda County, Nevada, and aims to increase U.S. lithium production fourfold, supplying battery grade material for more than 370,000 American electric vehicles each year. Construction is planned to begin in 2025, with production expected to start in 2028, creating approximately 500 jobs during construction and 350 high-paying jobs over its operational lifetime.
The approval process commenced during early 2020, and engagement and cooperation were built throughout the year with state, federal, and tribal governments and local communities. It has made substantial changes within the project to address more environmental and cultural concerns related to relocating infrastructure where it does not cross certain habitats and implementing water conservation measure. The U.S. Fish and Wildlife Service has determined that the Rhyolite Ridge project will not threaten the endangered Tiehm’s buckwheat. This shows that the project is following environmental regulations closely.
Ioneer's commitment to sustainability is reflected in its operational plans, including a processing facility designed to recycle half of its water usage and a focus on minimizing its carbon footprint. The company aims to limit its operational impact by avoiding evaporation ponds, utilizing innovative technologies, and maintaining an independent steam-powered facility. With the formal approval in hand, Ioneer plans to update its reserve figures and project costs by December 2024, advancing toward a final investment decision with its financial partners.
Additionally, the quarterly activities report highlights other projects under development. Ioneer is progressing with the EcoPro Lithium Clay Project, aiming to establish a commercially feasible sulfuric leaching process by the end of 2024. Meanwhile, the North Basin Growth Project, located near the Rhyolite Ridge site, has seen minimal activity but is part of Ioneer's broader strategy to enhance its lithium supply chain. As global boric acid demand remains steady, Ioneer anticipates tighter market conditions in the future, further emphasizing the importance of its lithium and boron resources in the transition to a sustainable energy landscape.
Vertex Minerals Limited (ASX: VTX)
Vertex Minerals Limited (ASX: VTX) recently announced key developments and milestones, reinforcing its strategic momentum toward gold production at the Hill End Reward Gold Mine, scheduled for January 2025. The company has appointed Chris Hamilton as General Manager of Operations for the Hill End Reward Gold Mine. Hamilton brings considerable underground mining and management expertise from his roles across prominent Australian mining projects, including CSA, Peak, Hera, and Tritton mines, positioning him as a valuable addition to Vertex’s leadership team. Vertex has secured firm commitments for a strategic $1.1 million placement at $0.16 per share, strengthening its capital base. This placement is augmented by $0.98 million in loan funding from sophisticated and institutional investors under a convertible facility. The combined proceeds will be allocated toward the acquisition of an Ore Sorter and conveyance equipment, an underground drill rig, and general working capital, all critical to advancing Vertex’s operational and exploration initiatives.
The acquisition of a Boart Longyear LM90 drill rig marks a pivotal step forward in Vertex's strategy to expand high-grade resources at the Reward Gold Mine. The LM90 drill rig, selected following an extensive evaluation process, is ideally suited to meet Vertex’s exploration goals and allows for cost-effective, efficient underground drilling operations. Initial drill targets include areas below and along the strike of the Reward high-grade resource, with an emphasis on the Fosters Exploration Target and South Star prospect areas. Vertex has already outlined an eight-hole diamond drilling program focused on high-grade intercepts within the Fosters Exploration target, with further resource extension potential identified. The underground deployment of the LM90 drill rig significantly reduces per-meter drilling costs, enhances operational safety, and offers greater drilling precision, underscoring Vertex’s commitment to cost-effective exploration. Simultaneously, the integration of the Gekko Gravity Gold plant is expected to be a catalyst for growth at the Hill End project. The gravity-only processing facility is projected to increase annual processing capacity from 30,000 to 110,000 tonnes, utilizing existing high-grade stockpiles initially and subsequently transitioning to high-grade underground feed as production ramps up. Designed for optimal gold recovery, the Gekko plant provides Vertex with a competitive advantage in terms of cost efficiency and environmental sustainability, positioning it favourably for profitability as gold production commences.
With a clear focus on cost efficiency and safety, Vertex’s plans to utilize stockpiled materials before transitioning to high-grade underground ore exemplify the company’s strategic approach to optimizing resource usage while maintaining environmental sustainability. Vertex’s gravity-only processing approach distinguishes it from peers, supporting both reduced operational costs and improved environmental outcomes. As Vertex advances toward its targeted production timeline, management’s disciplined capital allocation, focus on exploration, and commitment to community engagement set a promising foundation for shareholder value creation. Positioned for significant operational progress, Vertex’s strategy reflects a comprehensive plan to realize long-term growth while balancing operational safety, efficiency, and community responsibility.
(Source: Company’s Report)
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