The US government has approved the construction of a massive new lithium mine on public land in Nevada as part of a strategy to break China’s dominance over the supply chain of critical minerals used in EVs. The mine will be a key supplier to Ford’s future EVs.
This marks the first time the Biden administration has signed a permit for a lithium mine in the US.
The US government has offered Australia-based producer Ioneer a $700 million loan to help build the project, which would quadruple US lithium production when completed in 2028. The mine, which is thought to be vital to providing a domestic source of the critical mineral, contains enough lithium to power roughly 370,000 EVs every year.
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