Increasing demand for lithium and boron reflects their many uses which are integral to modern society and an energy efficient future.
More than half of the global demand for lithium and boron products is forecast to come from North America and Asia
Located near the west coast of the USA, Rhyolite Ridge is ideally positioned to supply both the North American and Asian markets.
With only one major boron mine operating in North America, another domestic supplier of boron would be welcomed by consumers to reduce their supply risk and increase competition in the domestic boron market.
The USA is increasingly dependent on imports of lithium as:
- The small Silver Peak Mine is the only operating lithium mine in the country
- 97% of the US lithium imports come from South America
- Production of lithium-ion batteries is concentrated in Asia
- This dependence is increasingly concerning Americans as exemplified by:
- The US Government's emphasis on secure and stable supply chains of critical minerals such as lithium
- Secure and ethical lithium and battery supply chains becoming a top priority for US vehicle and technology companies
As the lithium industry moves forward, it will become a strategically important industry central to the world’s economy and energy security.
A well-conceived long-term U.S. energy policy should support the development of a robust domestic lithium-ion battery manufacturing sector.
Tesla Motors Gigafactory 1 is located only 320km from Rhyolite Ridge and it is by far the largest planned lithium-ion battery manufacturing facility in North America. Production commenced in 2016 and is ramping up to a targeted annual output of 35GWh of batteries.
Rhyolite Ridge is uniquely positioned to support the:
- global surge in electric vehicles and energy storage via mining lithium
- benefits flowing from many energy efficient products via mining boron
Potential long-term US domestic supplier of lithium – a designated critical mineral.