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USUnited StatesU.S. Department of Energy, Advanced Technology Vehicles Manufacturing Loan Program

Ioneer Rhyolite Ridge LLC

Rhyolite Ridge on-site lithium processing facility

CommitmentLoan guaranteePublicContracted

fin-us-doe-rhyolite-ridge-guarantee-2025

Reading this record

What the evidence says — and does not say

What kind of figure?
CommitmentMoney, or a money-like promise, committed to a named recipient or project. The only role ever summed.
What has happened legally?
ContractedA binding agreement has been executed. Not a payment, and not necessarily an obligation of funds: an agreement can leave that to a later step.
Has money been paid?
Follow the payment evidenceThis status does not itself establish a cash payment. In particular, a signed contract does not necessarily establish an obligation of funds.
What does it link to?
Project attributionOne registered project is linked directly to this row. The link alone does not prove the amount was paid or that the project advanced.

This is a commitment role, but the financial status still determines legal standing and payment. Funding and verified industrial outcomes remain separate. A financial record alone never independently verifies construction, commissioning or production. Read SMPT's counting and evidence rules.

Amount

USD996 million

As stated “$996 million loan guarantee ($968 million principal plus $28 million capitalized interest)”

USD 996,000,000 · Exact · Currency stated in the source

Record

Provider
U.S. Department of Energy, Advanced Technology Vehicles Manufacturing Loan ProgramU.S. Department of EnergyGovernment body
Legal authority
Energy Independence and Security Act of 2007, Section 136 — Advanced Technology Vehicles Manufacturing Loan Program
Programme
None named
Recipient
Ioneer Rhyolite Ridge LLCIoneer Rhyolite Ridge LLCCompany
Project
Rhyolite Ridge on-site lithium processing facilityRhyolite Ridge on-site lithium processing facilities capital stack →
Facility
On-site lithium carbonate processing facility and associated infrastructure
Location
Esmeralda County, NevadaUS
Stages
ProcessingSingle stage
Materials
LithiumTracked materials only

Status

Financial and physical progress are separate histories. The last entry is current.

Financial

  1. Contractedcurrent

    DOE's 17 January 2025 announcement expressly reports closing the $996M ATVM loan guarantee to Ioneer Rhyolite Ridge LLC. Funding is subject to conditions precedent; no positive advance evidence in reviewed June–August 2026 issuer filings. The 2023 conditional loan is not a second count.

    U.S. Department of Energy, Loan Programs Office

Implementation

  1. Feasibilitycurrent

    The 30 July 2026 issuer report confirms June-quarter pre-construction engineering and feasibility studies with strategic partner, final investment decision and physical construction still pending. Stage is observed by this source date; no exact phase transition date is claimed.

    Ioneer Ltd / U.S. Securities and Exchange Commission (EDGAR)

Notes

ONE closed ATVM loan guarantee: $996M total = $968M principal + $28M capitalized interest; neither component is a second amount. January 2023 conditional commitment was revised and replaced at closing, not additive. As of latest reviewed issuer disclosures (June-quarter activities July 30, half-year accounts August 13, 2026), no primary source positively establishes a first federal advance; preserve contracted, do not classify as partially disbursed or assert conclusively that no draw has ever happened. Reported $4.273M establishment fees are costs paid by Ioneer, NOT DOE disbursement. First draw conditions include strategic partner equity, additional funds and revised financial model. Sibanye-Stillwater did not proceed with proposed project equity in February 2025; 2026 KIND/Hyundai understandings remained nonbinding. DOE's early NEPA summary names proposed Rhyolite Ridge Holdings LLC but the 17 Jan 2025 closing names Ioneer Rhyolite Ridge LLC; these are not assumed equivalent. Processing facilities only: federal guarantee does not finance open-pit mine construction or separately fund the untracked boron co-product, and permits and feasibility are not physical construction.

Evidence

Every populated field names the source that states it, how directly, and where.

  1. DOE closes $996 million loan guarantee for Ioneer Rhyolite Ridge

    U.S. Department of Energy, Loan Programs Office

    Fields supported
    Instrument · Value role · Capital source · Amount · Provider · Legal authority · Recipient · Project · Facility · Location · Supply-chain stages · Materials · Status
    Evidence level
    Explicit
    Location in document
    DOE closing release, 17 January 2025, paragraphs 1–2 and ATVM programme description
    Qualification
    Federal agency establishes a closed $996M guarantee and borrower, not disbursement; amount splits $968M principal and $28M capitalized interest.
    View source dossier →

  2. Ioneer January 2025 SEC exhibit — $996 million DOE loan closing

    Ioneer Ltd / U.S. Securities and Exchange Commission (EDGAR)

    Fields supported
    Instrument · Amount · Recipient · Status
    Evidence level
    Explicit
    Location in document
    Issuer's 17 January 2025 loan-closing statement and conditional-loan comparison
    Qualification
    Confirms closed instrument, amount and 2023 increase; earlier conditional commitment not additive.
    View source dossier →

  3. DOE/EIS-0565 — Rhyolite Ridge mine processing loan scope

    U.S. Department of Energy, NEPA

    Fields supported
    Project · Facility · Location · Supply-chain stages · Materials
    Evidence level
    Explicit
    Location in document
    DOE/EIS-0565 Summary, loan-only processing scope
    Qualification
    Excludes development/operation of open-pit mine. NEPA references a different proposed borrower, so it does not support recipient organization assignment.
    View source dossier →

  4. Ioneer Transition Form 20-F (2026) — Rhyolite Ridge financing conditions and pre-FID status

    Ioneer Ltd / U.S. Securities and Exchange Commission (EDGAR)

    Fields supported
    Status
    Evidence level
    Explicit
    Location in document
    DOE Loan discussion; conditions precedent to first advance and FID financing requirements
    Qualification
    Issuer says draw conditions include equity partner, additional capital and revised financial model; no first advance evidenced.
    View source dossier →

  5. Ioneer 30 July 2026 Quarterly Activities Report — Rhyolite Ridge remains pre-FID

    Ioneer Ltd / U.S. Securities and Exchange Commission (EDGAR)

    Fields supported
    Project · Supply-chain stages · Materials · Status
    Evidence level
    Explicit
    Location in document
    July 2026 Quarterly Activities Report, strategic partnering, timeline and ASX LR 5.3.2
    Qualification
    FID awaited, future construction milestone; zero production/development activity in June 2026 quarter. A non-binding Korean partnership MOU is not a draw or construction.
    View source dossier →

  6. Ioneer half-year financial statements ended June 30, 2026 (SEC Exhibit 99.1)

    Ioneer Ltd / U.S. Securities and Exchange Commission (EDGAR)

    Fields supported
    Status
    Evidence level
    Explicit
    Location in document
    Note 10 unamortized loan fees; Note 9 pre-FID exploration/development classification; directors' compliance statement
    Qualification
    Loan fees are not cash from DOE; amortization begins after first draw and financial statements still pre-FID. No guarantee disbursement affirmed.
    View source dossier →