Generic Hero BannerGeneric Hero Banner
Latest Market News

US government backs Ioneer Li-boron project: Correction

  • Spanish Market: Metals
  • 20/01/25

Corrects figure for capitalised interest in third paragraph

The US Department of Energy (DoE) has granted a $996mn loan to US-Australian miner Ioneer to support its Rhyolite Ridge Lithium-Boron project in Nevada.

The loan will help it progress plans to produce 20,600 t/yr of lithium carbonate and 174,400 t/yr of boric acid at the Nevada site, Ioneer said on 20 January.

Ioneer was first offered a $700mn DoE loan in January 2023, with the final DoE support package including a $968mn principal facility and $28mn worth of capitalised interest.

The company will start production at Rhyolite Ridge in 2028, with multiple manufacturers — including American carmaker Ford and South Korean battery material producer EcoPro as offtake partners — willing to buy more than 11,000 t/yr of lithium carbonate.

The DoE started accelerating its investment program in late 2024, allocating $2.3bn to support Thacker Pass' 40,000 t/yr lithium carbonate processing plant in Nevada, $1.36bn to EnergySource Minerals' 20,000 t/yr lithium hydroxide plant in California, and over $17mn to support smaller processors across the country.


Related news posts

Argus illuminates the markets by putting a lens on the areas that matter most to you. The market news and commentary we publish reveals vital insights that enable you to make stronger, well-informed decisions. Explore a selection of news stories related to this one.

Japan’s domestic EV sales extend fall in January


07/02/25
07/02/25

Japan’s domestic EV sales extend fall in January

Tokyo, 7 February (Argus) — Japanese domestic sales of passenger electric vehicles (EVs) fell for a 15th consecutive month in January, but the decrease rate has slowed. Sales totalled 4,563 units in January 2025, down by 2pc from a year earlier, according to data from three industry groups — the Automobile Dealers Association, the Japan Light Motor Vehicle and Motorcycle Association and the Japan Automobile Importers Association (JAIA). Sales were also down by 12pc on the month. Domestic EV sales continued to fall on the year but the decrease rate slowed in January, marking the first single-digit fall on the year since November 2023. EVs accounted for 1.4pc of Japan's total domestic passenger car sales in January, down by 0.2 percentage points from a year earlier. The decline is mostly because of weaker demand for domestic brand EVs including Toyota. Toyota's EV sales declined sharply to 68 units, down by 74pc from a year earlier. Foreign brand EV sales continued its uptrend, according to JAIA's representative who spoke to Argus . Sales of foreign brand passenger EVs increased by 3.6pc on the year to 1,209 units, marking the third consecutive month of year-on-year growth. But sales from China's BYD fell sharply by around 80pc on the year to 42 units, mostly on the back of delivery suspensions, JAIA added. Imported EVs accounted for around 26pc of Japan's total domestic EV sales. This was largely stable on the year, but down by 31 percentage points from a month earlier. Foreign brand manufacturers tend to increase their sales in December, according to JAIA, leading to relatively lower deliveries in January. By Yusuke Maekawa Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Sherritt raises Ni, Co output guidance for 2025


06/02/25
06/02/25

Sherritt raises Ni, Co output guidance for 2025

Houston, 6 February (Argus) — Canadian mining and metal producer Sherritt International raised its output guidance for nickel and cobalt metal for 2025. The company anticipates producing between 31,000 and 33,000 metric tonnes (t) of nickel and 3,300 to 3,600t of cobalt in 2025. This compares with the 30,331t of finished nickel and 3,206t of cobalt produced in 2024, both of which were within the annual guidance range. Last year was a challenging year for Sherritt because of natural disasters and power infrastructure challenges in Cuba, but the company remains well positioned to navigate current market conditions and maintain competitiveness despite Chinese-driven supply pressures, according to president and chief executive Leon Binedell. Output in 2025 will be supported by improved availability of mixed sulphides from the Moa mine site in Cuba to the refinery. Production is expected to be weighted towards the second half of the year. "We continue to advance key strategic initiatives including our mixed hydroxide precipitate project targeting the North American electric vehicle market," Binedell added. By Carol Luk Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

US Li salts imports dropped in 2024


06/02/25
06/02/25

US Li salts imports dropped in 2024

Houston, 6 February (Argus) — The US imported 16,170 metric tonnes (t) of lithium salts in 2024, down by 11pc from the prior year, driven by inventory destocking and a slower-than-expected adoption of electric vehicles. Price declines and limited shelf-life prompted US importers to consume lower stocks, while a shift towards lithium iron phosphate (LFP) batteries led to a change in preference for lithium carbonate. Imports of lithium oxide and hydroxide fell by 25pc to 705 tonnes in 2024, while lithium carbonate imports decreased by 10pc to 15,465 tonnes, according to the US Census Bureau. Lithium hydroxide is primarily used in the production of high-energy-density batteries, while lithium carbonate is more commonly utilized in the manufacture of LFP batteries. Argus -assessed prices for 99.5pc grade lithium carbonate fell by 31pc over 2024, reaching $9.1-9.4/kg cif China on 31 December. Chile and Argentina accounted for 98pc of the material, supplying 9,105t and 6,779t, respectively. By Carol Luk Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Mexico factory activity weakens in Jan


06/02/25
06/02/25

Mexico factory activity weakens in Jan

Mexico City, 6 February (Argus) — Mexico's manufacturing sector contracted further in January, according to the latest purchasing managers index (PMI) survey from the finance executive association IMEF. Both manufacturing and non-manufacturing PMIs decreased for a second month in January, falling deeper into contraction territory. "Mexico's economy began 2025 with no growth at all," said IMEF, "with the outlook made highly uncertain moving forward by US President Donald Trump's first actions in office." While Trump's proposed tariffs remain on hold, IMEF warned they could severely impact Mexico's economy by further stalling growth and triggering inflation. The manufacturing PMI dropped to 45.6 from 47.5 in December, marking its tenth consecutive month below the 50-point expansion threshold. Manufacturing, which accounts for about a fifth of Mexico's economy, is led by the auto sector, contributing about 18pc of manufacturing GDP. Within the manufacturing PMI, the new orders index dropped 3.5 points to 42.9 and deeper into contraction. Similarly, production fell 3.0 points to 42.8. Employment held at 47.4 in January, now in contraction for 12 consecutive months. The non-manufacturing PMI — covering services and commerce — declined again, slipping to 49.1 in January from 49.6 in December. New orders dropped 1.9 points to 47.9, production fell 1.4 points to 47.1 and employment held at 48.7. IMEF further raised concerns over Mexico's trade and services sectors — key drivers of Mexico's post-pandemic recovery, noting a recent loss of momentum. The group added this may have implications on the non-manufacturing PMI with its associated sub-components "on the verge of contraction". By James Young Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Generic Hero Banner

Business intelligence reports

Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.

Learn more