Sibanye-Stillwater Withdraws from Rhyolite Ridge Lithium Project in Nevada
Sibanye-Stillwater Limited has decided not to proceed with the Rhyolite Ridge lithium-boron project in Nevada. The company announced the decision on February 26, 2025.
Mining company Sibanye-Stillwater Limited has announced it will not proceed with the Rhyolite Ridge lithium-boron project in Esmeralda County, Nevada. The company's board of directors resolved not to continue with the project under the joint venture agreement with ioneer Ltd.
The decision came after Sibanye-Stillwater reviewed updated project and technical information from ioneer in October 2024. The company stated that the project did not meet its investment hurdle rates at "prudent pricing assumptions," without further specifying reasons.
The Rhyolite Ridge project was intended to be one of the first large-scale US lithium projects, aiming to extract a significant, shallow lithium-boron deposit. The project was located near existing infrastructure, between Las Vegas and Reno.
The company affirmed its continued commitment to the U.S. market and its battery metals strategy, and that it will continue to assess growth opportunities in the sector.