{
  "event": {
    "id": "evt-us-doe-rhyolite-ridge-2025",
    "date": "2025-01-17",
    "jurisdiction": "us",
    "issuingBody": "U.S. Department of Energy, Loan Programs Office",
    "titleOriginal": "DOE Announces $996 Million Loan Guarantee to Ioneer Rhyolite Ridge to Advance Domestic Production of Lithium Carbonate",
    "titleOriginalLang": "en",
    "titleEn": "DOE closes $996 million loan guarantee for Rhyolite Ridge lithium processing",
    "titleEnSource": "na",
    "documentNumber": null,
    "policyStatus": "active",
    "mechanism": [
      "funding",
      "supply_chain_security"
    ],
    "affectedMaterialIds": [
      "lithium"
    ],
    "affectedSectors": [
      "battery",
      "energy",
      "industrial"
    ],
    "summary": "On 17 January 2025 DOE closed an ATVM loan guarantee of $996 million ($968 million principal and $28 million capitalized interest) to Ioneer Rhyolite Ridge LLC for on-site lithium carbonate processing at the Rhyolite Ridge project in Nevada. The guarantee is a signed financing facility, not a disbursement, and DOE financing is restricted to the processing plant and related infrastructure, not the open-pit mine. As of June 2026 the issuer remained pre-final-investment decision with equity partner and additional financing requirements, with no substantiated DOE advance.",
    "analyticalSignificance": "Shows a binding U.S. industrial-finance commitment that remains short of funded physical implementation. Separate the closed loan guarantee from the older conditional loan proposal, third-party equity, cash advances, and future mine/processing construction. The U.S. borrower is distinct from the Australian public parent.",
    "supersededByEventId": null,
    "sourceIds": [
      "src-doe-ioneer-rhyolite-2025-close",
      "src-doe-rhyolite-nepa-0565",
      "src-sec-ioneer-rhyolite-close-2025",
      "src-sec-ioneer-rhyolite-20f-2026",
      "src-sec-ioneer-rhyolite-q2-2026",
      "src-sec-ioneer-rhyolite-halfyear-2026"
    ],
    "verificationStatus": "verified",
    "intakeMode": "backfill",
    "lifecycle": {
      "officialPublicationDate": "2025-01-17",
      "discoveredAt": null,
      "verifiedAt": "2026-10-08",
      "publishedAt": null
    }
  },
  "framing": [],
  "sources": [
    {
      "id": "src-doe-ioneer-rhyolite-2025-close",
      "title": "DOE closes $996 million loan guarantee for Ioneer Rhyolite Ridge",
      "publisher": "U.S. Department of Energy, Loan Programs Office",
      "url": "https://www.energy.gov/edf/articles/doe-announces-996-million-loan-guarantee-ioneer-rhyolite-ridge-advance-domestic",
      "language": "en",
      "datePublished": "2025-01-17",
      "dateAccessed": "2026-10-08",
      "sourceType": "official",
      "confidence": "primary",
      "notes": "Closing announcement: $996M guarantee, $968M principal plus $28M capitalized interest, to Ioneer Rhyolite Ridge LLC under ATVM. DOE specifies on-site lithium-carbonate processing and identified ioneer Ltd as developer; Jan 2025 closing is not evidence of cash advanced, operating production or mine financing."
    },
    {
      "id": "src-doe-rhyolite-nepa-0565",
      "title": "DOE/EIS-0565 — Rhyolite Ridge mine processing loan scope",
      "publisher": "U.S. Department of Energy, NEPA",
      "url": "https://www.energy.gov/nepa/doeeis-0565-rhyolite-ridge-lithium-boron-project-esmeralda-county-nevada",
      "language": "en",
      "datePublished": null,
      "dateAccessed": "2026-10-08",
      "sourceType": "official",
      "confidence": "primary",
      "notes": "DOE environmental summary explicitly confines contemplated federal loan to on-site lithium processing facilities, sulfuric acid plant and supporting infrastructure, NOT open-pit mine development/operation. The early NEPA synopsis calls the proposed borrower Rhyolite Ridge Holdings LLC; do not conflate that with the closing release's Ioneer Rhyolite Ridge LLC without legal proof."
    },
    {
      "id": "src-sec-ioneer-rhyolite-close-2025",
      "title": "Ioneer January 2025 SEC exhibit — $996 million DOE loan closing",
      "publisher": "Ioneer Ltd / U.S. Securities and Exchange Commission (EDGAR)",
      "url": "https://www.sec.gov/Archives/edgar/data/1896084/000114036125001367/ef20041815_ex99-1.htm",
      "language": "en",
      "datePublished": "2025-01-17",
      "dateAccessed": "2026-10-08",
      "sourceType": "other",
      "confidence": "primary",
      "notes": "Issuer's 17 January 2025 closing announcement confirms the $996M ATVM facility, principal/interest split and earlier January 2023 conditional offer, including $268M principal increase. This is the same loan, not a second 2023 commitment or $996M immediately paid."
    },
    {
      "id": "src-sec-ioneer-rhyolite-20f-2026",
      "title": "Ioneer Transition Form 20-F (2026) — Rhyolite Ridge financing conditions and pre-FID status",
      "publisher": "Ioneer Ltd / U.S. Securities and Exchange Commission (EDGAR)",
      "url": "https://www.sec.gov/Archives/edgar/data/1896084/000114036126017853/ef20070398_20f.htm",
      "language": "en",
      "datePublished": "2026-04-29",
      "dateAccessed": "2026-10-08",
      "sourceType": "other",
      "confidence": "primary",
      "notes": "Issuer securities filing recounts 2025 loan closing and conditions to first DOE advance (strategic partner equity, additional funding and project-finance model), and states that a final investment decision and construction need further financing. The February 2025 Sibanye proposal did not proceed; it is not a valid assumption of equity capital."
    },
    {
      "id": "src-sec-ioneer-rhyolite-q2-2026",
      "title": "Ioneer 30 July 2026 Quarterly Activities Report — Rhyolite Ridge remains pre-FID",
      "publisher": "Ioneer Ltd / U.S. Securities and Exchange Commission (EDGAR)",
      "url": "https://www.sec.gov/Archives/edgar/data/1896084/000114036126030118/ef20078896_ex99-1.htm",
      "language": "en",
      "datePublished": "2026-07-30",
      "dateAccessed": "2026-10-08",
      "sourceType": "other",
      "confidence": "primary",
      "notes": "June 2026 quarter update: strategic partner and Final Investment Decision still outstanding; pre-feasibility for battery-grade lithium carbonate completed, construction remains a future milestone; expressly confirms no production or development activity in quarter. Nonbinding Korea KIND/Hyundai MOUs are not cash or binding equity. Separate US Army Tooele land-lease possibility is not part of this ATVM guarantee."
    },
    {
      "id": "src-sec-ioneer-rhyolite-halfyear-2026",
      "title": "Ioneer half-year financial statements ended June 30, 2026 (SEC Exhibit 99.1)",
      "publisher": "Ioneer Ltd / U.S. Securities and Exchange Commission (EDGAR)",
      "url": "https://www.sec.gov/Archives/edgar/data/1896084/000114036126032597/ef20079527_ex99-1.htm",
      "language": "en",
      "datePublished": "2026-08-13",
      "dateAccessed": "2026-10-08",
      "sourceType": "other",
      "confidence": "primary",
      "notes": "Directors' report: issuer compliant with closed DOE loan facility, no development decision at June 30, 2026. Note 10: $4.273M unamortized DOE loan establishment fees, amortization starts after first draw; it is not an advance or independent commitment. Filing documents no positive disbursement; an absence of disclosure is not a universal proof none occurred later."
    }
  ]
}