Ioneer Ltd. and Empire Southwest, LLC have officially established a partnership aimed at enhancing the development and operation of the Rhyolite Ridge Lithium-Boron Project in Nevada. The companies signed a Master Service Agreement to facilitate sales, services, goods, technology, and equipment rental, marking a significant step in their collaborative efforts.
Located in Esmeralda County, Nevada, Rhyolite Ridge is notable for holding the largest undeveloped lithium-boron ore reserve outside of Turkey. The project is poised to play a crucial role in supplying and processing essential materials necessary for re-shoring U.S. manufacturing.
Matt Weaver, Senior Vice President of Engineering & Operations at Ioneer, emphasized the importance of this partnership. “Partnering with Empire gives Ioneer added support and expertise as we move into an important operational phase in driving U.S. mining innovation, sustainability, and the secure production of lithium and boron – two urgently needed U.S. critical minerals,” he stated. Weaver described Rhyolite Ridge as a multigenerational deposit and expressed optimism about the partnership’s potential longevity.
Empire Southwest, the authorized Caterpillar dealer for Arizona, Nevada, and parts of eastern California, sees this collaboration as a pivotal moment for mining production in the United States. Dan Harms, Vice President of Mining at Empire, remarked, “This partnership underscores Empire’s commitment to supporting innovative projects that drive progress, create jobs, and deliver long-term value to our industry and communities.”
The agreement comes on the heels of Ioneer’s recent advancement in ore processing technology, which successfully reduced processing time by half and increased annual lithium and boron chemical production by 30% and 15%, respectively, over the project’s first 25 years.
Job creation is a significant aspect of the Rhyolite Ridge project, with hundreds of positions expected to emerge. Additionally, the project is projected to generate approximately $30 million annually in fiscal revenue for state and local governments. Construction is planned to commence in 2026, with commercial operations anticipated to begin in 2029.
About Ioneer, the company is dedicated to becoming a leading lithium-boron producer and fully owns the Rhyolite Ridge project. As one of only a few lithium-boron ore deposits globally, Rhyolite Ridge is central to Nevada’s burgeoning Lithium Loop. In January 2025, Ioneer secured a loan of $996 million from the U.S. Department of Energy’s Energy Dominance Finance Program. The company also received the final federal permit for the project in October 2024, concluding a permitting process that began in early 2020.
Ioneer has forged separate offtake agreements with notable companies, including Ford Motor Company and the joint venture between Toyota and Panasonic, known as Prime Planet & Energy Solutions, in 2022, and with Korea’s EcoPro Innovation in 2021.
Empire Southwest is recognized as an authorized Cat® dealer, providing heavy equipment and power systems throughout its service region. Founded in 1950, the family-owned company boasts over 4,100 employees across more than 30 locations. Empire is also involved in commercial solar products, microgrids, and various agricultural equipment.
For more information on Ioneer, visit www.Ioneer.com/investors, and for details about Empire, visit empirecat.com.
