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Ionize (NASDAQ:IONR) +18.8% in trading Monday, saying it moved closer to building its Rhyolite Ridge lithium mine in Nevada with the planned issuance of the project's draft environmental impact statement by the U.S. Bureau of Land Management.
According to Ioneer (IONR), the BLM said it plans to release a draft environmental impact statement on April 19 for public review during a 45-day public comment period, which will end on June 3.
The draft document will include efforts to redesign and relocate proposed project activity to protect the rare Tiehm's buckwheat flower, which the U.S. Fish and Wildlife Service declared endangered in 2021.
The proposed mine, which could be a key supplier of lithium for Ford and other companies, contains one of the largest sources of lithium in North America and could produce enough metal to power nearly 370,000 electric vehicles each year.
The US Department of Energy said earlier this year that lend up to 700 million dollars to Ioneer (IONR) to develop the mine.
