Ioneer now expects to secure a new partner for its Rhyolite Ridge lithium-boron project in Nevada in H1 2026, after Sibanye-Stillwater withdrew from a proposed $490 million, 50% stake and Goldman Sachs-advised talks overran the original four‑month timetable amid weaker markets and geopolitical uncertainty. Backed by a $996 million US government loan and all key permits, Rhyolite Ridge has an updated DFS with a 95‑year mine life, NPV lifted to $1.5 billion, and reserves of 7.8 Mt boric acid plus 2 Mt lithium carbonate supporting an initial 77‑year plan. Average output for years 1–25 is now projected at 24,500 t/y lithium carbonate equivalent and 135,500 t/y boric acid, placing the operation in the global lowest cost quartile on an LCE basis and making co‑product economics central to any JV valuation.

US Export-Import Bank has lifted potential financing for Graphite One’s Alaska-to-Ohio graphite supply chain to about $2.1 billion, including $670 million for the Graphite Creek mine near Nome and $1.4 billion for a 100,000 t/y anode materials plant in Niles, Ohio, repayable over 15 years. EXIM signals willingness to fund roughly 70% of capex to first production, with Graphite One targeting initial 25,000 t/y anode output by mid-2027 and mine start-up in 2030 under a 20-year life. The project is post-feasibility, advancing under FAST-41 permitting, and already has $37.5 million US Department of Defense support.

Erdene Resource Development has poured first gold at its Bayan Khundii open-pit mine in southwest Mongolia and is ramping to nameplate output of 85,000 oz. per year from a 650,000 tpa plant, underpinned by 3.8 Mt of proven and probable reserves grading 3.8 g/t gold and 1.7 g/t silver for a six-year mine life. The 50-50 joint venture with Mongolian Mining Corporation has invested about $115 million, installed a 240 km power line from Inner Mongolia and employs roughly 500 people, signalling district-scale intent. Nearby Zuun Mod, 35 km east, holds 271 Mt measured and indicated at 0.06% Mo and 0.06% Cu plus similar-scale inferred resources, positioning it as a potential major molybdenum-copper supplier to China.