Latest news with #RhyoliteRidgeLithium-BoronProject
Yahoo
16-04-2025
- Business
- Yahoo
Esmeralda County secures at least $15 million to mitigate impacts of lithium mine
Goldfield is the county seat in Esmeralda County. (Photo: Sydney Martinez/Travel Nevada) Esmeralda County has secured an agreement with lithium developer Ioneer that will bring the rural county at least $15 million in funding to mitigate the impacts of a massive planned mine in the least populated county in the state. Earlier this month, the Esmeralda County Board of Commissioners approved a development agreement with Ioneer that will provide the county with at least $5 million in funding for emergency services and more than $10 million for road improvements and maintenance. The seven year development agreement is meant to 'reasonably mitigate the land use impacts that the development' of Ioneer's 7,000 acre Rhyolite Ridge Lithium-Boron Project 'will have on the citizens of Esmeralda County.' Esmeralda County is the least populated county in Nevada, a fact reflected by the county's infrastructure and services. The county is built to support the roughly 750 residents who live there, but if the projected 500 construction jobs it will take to build the lithium mine is accurate, that influx alone would nearly double the county's population within a couple of years. Under the agreement, Ioneer will reimburse Esmeralda County for the cost of three sheriff's deputies and six emergency services staffers, including salary and insurance and retirement and benefit costs. Esmeralda County will also be reimbursed for three converted patrol vehicles, one fire truck, and one ambulance under the agreement. 'Ioneer's investments will make for a safer and more secure Esmeralda County,' said County Fire Chief Jeffrey Bushnell in a press release Monday. 'We're grateful for their financial support and look forward to our continued partnership for the many years that follow.' The agreement is in the final stages of approval with the county. A signed copy of the agreement will be posted once finalized, according to county officials. 'Ioneer has embraced our entire community, welcoming our input. They have left no stone unturned in a quest for a fair and harmonious development agreement,' said Mary Jane Zakas, Esmeralda County Commissioner for District 3 in a statement. For years, county officials have raised concerns about how the largest development project in the county in the last 22 years would require significant investments from the county to expand law enforcement, emergency services, and waste disposal. The county will also need to take on higher maintenance expenses for the wear-and-tear on roads carrying heavy machinery, a concern reiterated by county commissioners last year during the project environmental review period. Those impacts will now be partially mitigated by the development agreement which is designed to 'promote the health, safety and general welfare' of Esmeralda County residents while ensuring the 'highest economic benefit and least fiscal cost to its citizens,' according to the agreement. Dyer, a small town about 13 miles from the proposed lithium mine, would likely face the brunt of the impacts from the project. State Highway 264 and other transportation routes through the town of Dryer would be used to transport hazardous materials and hundreds of diesel fuel vehicles a day to and from the mine, according to the environmental review. Under the development agreement, Ioneer would be required to prepare and deliver an emergency response plan to the county before the company starts transporting or storing hazardous materials on the project site, including truckloads of boric acid needed to mine lithium. Ioneer would also be required to pay up to $25,000 annually for emergency response and fire protection training as soon as the company begins delivering equipment for construction of the mine. The increase of emergency services needed to accommodate mining operations also calls for an emergency facility to house the additional emergency workers the county plans to hire, according to the development agreement. Ioneer will be required to pay up to $900,000 for the construction of an emergency facility near the intersection of State Highway 264 and State Highway 773. Lithium extraction requires massive amounts of water, a tough sell in a state plagued by two decades of drought. Ioneer plans to source water from Esmeralda County's Fish Lake Valley, where the groundwater supply is already over-appropriated and over-pumped. Over the past 50 years agriculture has reduced groundwater in Fish Lake Valley by up to 200 feet in some areas, drying up residential wells. The agreement acknowledges the need for groundwater mitigation by establishing a county-administered program to help residents in the region who need domestic water wells drilled deeper or rehabilitated. However, the program would only be funded if Esmeralda County secures grants to fund the jobs and associated costs that Ioneer would have covered under the agreement. In that scenario, Ioneer would get paid back the costs in annual payments and half that money would be set aside for the well digging program. County officials have also raised concerns about the costs of expanding waste disposal services to accommodate the boom in workers needed to construct the mine. The agreement addressed that concern by noting that Ioneer will reimburse the county for the cost of a garbage truck if the volume of household waste increases to the point where another is needed. 'We are dedicated to being good neighbours, providing the County with the necessary resources to ensure that our funding assists the County and services it provides in preparation for the commencement of project construction,' said Bernard Rowe the Managing Director of Ioneer in a statement Monday. Federal land managers gave their final approval for the mine in October, after a four year federal permitting and environmental review process. Ioneer also secured a $996 million federal loan in January to fund the mine processing facilities and associated infrastructure. However, the project was hit with a financial setback in February when South African mining company Sibanye-Stillwater pulled back plans to invest $490 million in Ioneer for a 50 percent stake in the project following cratering lithium prices. Despite the setback, Ioneer said Rhyolite Ridge is construction ready and the company is currently focused on seeking a new equity partner to bring the project into production. Once constructed the massive 7,000 acre project would be in operation for 23 years and remove enough lithium from Nevada's public lands to supply nearly 370,000 electric vehicles each year. The project has also attracted fierce opposition from conservation groups opposed to the mine's encroachment on critical habitat reserved for the only known population of the endangered wildflower Tiehm's buckwheat. The flower grows on just 10 acres of lithium-boron rich soil near the Silver Peak Range in Esmeralda County. A week after the federal government approved the mine, the Center for Biological Diversity initiated a lawsuit against the mine under the Endangered Species Act. If constructed, the mine would create a 66 acre quarry — a deep open pit characteristic of mines and where the lithium would be extracted — and directly disturb about 191 acres of critical habitat for the Tiehm's buckwheat. In total the mine would result in the removal of more than 2,000 acres of nesting sites and foraging habitat for a number of species.
Yahoo
10-04-2025
- Business
- Yahoo
Canter Resources Provides Corporate Updates and Comments on Potential Impact of Tariffs on Lithium and Boron Markets
Vancouver, British Columbia--(Newsfile Corp. - April 10, 2025) - Canter Resources Corp. (CSE: CRC) (OTC Pink: CNRCF) (FSE: 6O1) ("Canter" or the "Company") comments on the potential impact of tariffs on the lithium and boron markets and provides corporate updates. With significant tariffs set to take effect across many industries, Canter is preparing for what it expects could be a significant impact on the importance of U.S. based critical metals exploration and development projects. While tariffs and supply chain disruptions could drive up costs for downstream industries reliant on imported materials, these pressures may accelerate domestic investment in critical mineral projects, as seen with the recent nearly $1 billion U.S. Department of Energy funding package supporting Ioneer's Rhyolite Ridge Lithium-Boron Project, located just 27 kilometres (17 miles) south of Canter's own Columbus Lithium-Boron Project in Nevada. Such projects are positioned to reduce reliance on imports and bolster national security by establishing a more self-sufficient supply chain for EV batteries and numerous other emerging technologies within the advanced computing, clean energy and defense sectors. "Overall, trade wars create volatility and uncertainty in the market; however, they also highlight the strategic importance of domestic supply of critical materials like lithium and boron, potentially increasing their value and prioritization in U.S. policy and investment," commented CEO Joness Lang. "The environment we will be operating in for the foreseeable future is one that will aim to reduce reliance and dependence on imports from certain foreign sources, with domestic funding incentives to accelerate growth on the back of critical/strategic mineral discoveries. We believe our Columbus Project represents a significant opportunity to contribute to future domestic supply." Notably, Ioneer Ltd. recently announced a significant increase in the mineral resource estimate (MRE) for Rhyolite Ridge (see Ioneer's news release dated March 5, 2025). The updated MRE emphasizes the flexibility of boron as a co-product, which can provide a steady revenue stream during periods of lower lithium prices. While Canter's Columbus Lithium-Boron Project is at an exploration-stage, it shares the same commodity mix and volcanic source rocks that feed Rhyolite Ridge (sediment hosted) and is located just 27 kilometres (17 miles) north. Mineralization at nearby or adjacent properties is not necessarily indicative of mineralization at the Company's Columbus Project. Already considered a strategic mineral by the U.S. Department of Defense, boron is expected to be added to the USGS Critical Metals List in 2025. Its role as a critical material continues to grow, with market demand driven by its applications in agriculture, glass, ceramics, and emerging advanced technologies such as semiconductors, electric vehicles, clean energy (solar, wind turbines, nuclear) and military and aerospace applications. These developments further validate Canter's strategic focus on exploring and advancing its lithium-boron projects, positioning the Company to benefit from the increasing demand for these essential materials. For more information, contact investors@ for a copy of the Company's investor brief on boron and visit Upcoming Events Annual General Meeting Canter's 2025 Annual General and Special Meeting of Shareholders (the "Meeting") will be held virtually via Microsoft Teams on Wednesday, May 7, 2025, at 10:00 AM Pacific Time. The Meeting will address several key items, including the presentation of the Company's audited financial statements for the year ended June 30, 2024, the election of directors, the re-appointment of the Company's auditor, and other important corporate matters as outlined in the management information circular. For voting instructions or to request a paper copy of the meeting materials, shareholders may contact the Company or its transfer agent. Fastmarkets Lithium Supply and Battery Raw Materials Conference 2025 Canter's management team will be attending the Fastmarkets Lithium Supply & Battery Raw Materials Conference in Las Vegas (June 23-26). This event provides a valuable opportunity for Canter to connect with industry leaders, explore emerging trends, and share insights on sustainable lithium and boron resource exploration and development. To request a meeting with management, please contact info@ Option Grant The Company announces that it has granted its first option issuance since completing its personnel transformation at the corporate level during 2024. The Company has granted 2,400,000 incentive stock options to certain directors, officers, advisors and consultants, exercisable at $0.07 per share, for a period of five (5) years from the date of grant. Fifty percent of the incentive stock option grant vests immediately, with the other fifty percent vesting 12 months from the date of grant. Qualified Person (QP) The technical information contained in this news release was reviewed and approved by Eric Saderholm Director and Technical Advisor of Canter Resources, a Qualified Person (QP), as defined under National Instrument 43- 101 - Standards of Disclosure for Mineral Canter Resources Corp. Canter Resources Corp. is a junior mineral exploration company advancing the Columbus Lithium-Boron Project and the Railroad Valley (RV) Lithium-Boron Project in Nevada, USA. The Company is completing a phased drilling approach at Columbus to test highly prospective brine targets at varying depths for lithium-boron enrichment and plans to leverage the Company's critical metals targeting database to generate a portfolio of high-quality projects with the aim of defining mineral resources that support the technology and domestic clean energy supply chains in North America. On behalf of the Board of Directors. For further information contact: Joness LangChief Executive Officer Canter Resources Corp. Tel: 778.382.1193jlang@ For investor inquiries contact: Kristina Pillon, High Tide Consulting 604.908.1695investors@ The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release. The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this news release. FORWARD-LOOKING STATEMENTS This news release contains "forward-looking statements" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward-looking statements contained herein include, but are not limited to, statements regarding the Company's plans for the Project and the payments related thereto, the issuance of the Consideration Shares and the Company's expected exploration activities. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: requirements for additional capital; future prices of minerals; changes in general economic conditions; changes in the financial markets and in the demand and market price for commodities; other risks of the mining industry; the inability to obtain any necessary governmental and regulatory approvals; changes in laws, regulations and policies affecting mining operations; hedging practices; and currency fluctuations. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Company does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. To view the source version of this press release, please visit
