has secured a $US700 million loan from the US Department of Energy to develop its lithium-boron project at Rhyolite Ridge in Nevada, renewing the Biden administration’s pledge to expand production of critical minerals for technology such as electric vehicle batteries.
“The urgency to secure critical materials for batteries is expected to rapidly increase in the coming years as demand for lithium is projected to exceed current global production by 2030,” Mr Shah said. The new loan follows other major wins by Australia’s critical minerals producers securing US government assistance.
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