ioneer Ltd has signed a partnership with Caterpillar Inc. as its exclusive heavy equipment partner for the Rhyolite Ridge Lithium-Boron Project in Nevada.
The equipment and services supplied by Caterpillar during the first five years of operation are valued at approximately $100 million.
In addition, Caterpillar will offer finance solutions for the equipment through Caterpillar Financial Services.
Both the supply of equipment and services and finance solutions are subject to a final investment decision being taken on the project and definitive legal documentation.
The partnership will operate through Cashman Equipment, a major Caterpillar equipment dealer, which has been based in Nevada since 1931.
Domestic Lithium Battery Supply Chain
ioneer's Managing Director Bernard Rowe said, "We are extremely pleased to partner with the world's leading manufacturer of mining equipment, Caterpillar.
"The Cashman Equipment Cat dealership has serviced the Nevada mining industry for close to 90 years and we are delighted it is joining us in a new era of mining within Nevada and the U.S. – producing materials that are critical for electric vehicles and renewable energy.
"ioneer is at the forefront of the U.S. strategic imperative to develop a domestic lithium battery supply chain."
Cashman Equipment Vice President of sales, marketing and rental Todd Gilligan said,
"A mining endeavour of this magnitude needs a first-class machine fleet and Caterpillar offers the most comprehensive, advanced line up of mining equipment and technology in the industry.
"That fleet will be backed by dedicated experts like our employees here at Cashman to provide maximum uptime and efficiency.
"We are excited to have been selected as ioneer's partner and look forward to working together on this important American project that is set to become a major U.S. supplier to the lithium battery and EV markets."