Stock Groups

U.S. advances plan to protect Nevada flower near lithium project By Reuters


© Reuters.

Ernest Scheyder

(Reuters). – The U.S. Fish and Wildlife Service published a proposal rule Friday listing the Tiehm’s buckwheat flowers as endangered. This is the latest setback to ioneer Ltd’s plans for a Nevada lithium mine to supply electric vehicles.

This move was expected and will open a period of 60 days for public comments once the rule proposal is published in Federal Register. Within one year, a final decision will likely be reached.

Anybody can send their comments to the agency. The agency stated in a statement, “More information is required to conduct an economic analysis of possible impacts on the species.”

While the endangered species classification would not in any way prevent construction, it could hinder permitting. Construction was scheduled to begin this year with the mine opening in 2023.

As the United States attempts to move away from fossil fuels, the regulatory review is a reflection of the tensions between industry and environmentalists.

Australia’s-based Ioneer stated it supported the move of the agency and was “highly confidant that we can achieve successful coexistence between Tiehm’s buckwheat & our environmentally important project” through a combination of avoidance and propagation.

Center For Biological Diversity, an environmental organization has held the belief that this flower, which is unique in its habitat on Earth must be protected at all cost. This Friday was referred to by the group as a “banner date for native plant conservation.”

The review is ongoing, but it hasn’t stopped funding efforts nor scared off any potential customers.

Sibanye Stillwater, a South African mining company (NYSE:) Ltd bought the Nevada Project for $490 Million last month.

The deal was made after Ecopro Co Ltd, a South Korean battery manufacturer, agreed to purchase approximately a third the annual production of 7,000 tonnes lithium.

Disclaimer Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs include stocks, indexes and futures. Prices are provided not by the exchanges. Market makers provide them. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media does not accept any liability for trade losses that you may incur due to the use of these data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.