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Biden Administration Approves First U.S. Lithium Mine to Power 370,000 EVs in Nevada

Oct 24, 2024, 07:42 PM

The Biden administration has issued its first approval for a lithium mine in the United States, marking a significant step in the nation's efforts to shift its critical minerals supply chain away from China. The approved project, Ioneer’s Rhyolite Ridge Lithium-Boron Project, is located in southwestern Nevada and has received final permit approval from the U.S. Federal Government. The project aims to supply enough lithium to power 370,000 electric vehicles annually. Additionally, the U.S. Treasury has expanded clean energy subsidies to include mining companies, and tax breaks have been extended to some miners. However, the approval has sparked controversy due to potential harm to an endangered wildflower in the area. Construction for the project is planned to begin in 2025.