Ioneer (ASX:INR) has been offered conditional commitment from the U.S. Department of Energy for a loan of up to US$700M for the Rhyolite Ridge lithium-boron project.
Ioneer says the proposed loan is to be made under the Department's Advanced Technology Vehicles Manufacturing program for a term of about ten years with an interest rate fixed from the date of each advance for the term of the loan at applicable U.S. Treasury rates.
It also says the conditional commitment follows nearly two years of extensive and detailed technical, legal, and market due diligence by the Department.
Ioneer's share price closed up 21% today.