Increasing demand for lithium and boron reflects their many uses that are integral to a sustainble and thriving future for our planet.
Greater than 75% of 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 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 lithium that the USA imports comes from South America; and
- 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; and
- Secure and ethical lithium and battery supply chains becoming a top priority for US vehicle and technology companies.
Lithium is one of 35 minerals recently deemed critical to the economic and national security of the country by the US Government.
As the lithium industry moves forward, it will become a strategically important industry central to the world’s economy and energy security. Every gigawatt hour ("GWh")of lithium-ion battery capacity requires approximately 800 tonnes of lithium carbonate.
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 330km 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 50GWh of batteries.
Rhyolite Ridge is uniquely positioned to support the:
- global surge in electric vehicles and energy storage via producing lithium; and
- benefits flowing from many products essential to modern life via producing boron.