Sibanye-Stillwater said it has made the decision to not proceed with the Rhyolite Ridge lithium-boron project in Nevada under a joint venture agreement with ioneer.
The miner received updated project and technical information from ioneer in October 2024. After a comprehensive review on the results, the board of directors “resolved not to proceed with Rhyolite Ridge as, among other things, the project did not meet the Sibanye-Stillwater investment hurdle rates at prudent pricing assumptions,” the company said.
A joint venture between the two companies with respect to Rhyolite Ridge was announced in September 2021.
Sibanye-Stillwater said it remains committed to the U.S. market and its battery metals strategy and will continue to assess growth opportunities in this space.
Located 14 miles northeast from Dyer, Nev., Rhyolite Ridge holds the largest known lithium and boron deposit in North America.
Source: Sibanye-Stillwater