The Biden Administration Just Approved Its First Lithium Mine

Last week, the Rhyolite Ridge Lithium-Boron Project in Nevada became the first-ever lithium mine to receive the green light from the Biden administration. Shares of project owner, Ioneer Ltd (NASDAQ:IONR), have surged more than 20% after the announcement, with the company saying it received final federal approval for the project from the U.S. Bureau of Land Management as part of the Biden administration's attempt to boost domestic production of minerals seen as critical for electric vehicle batteries. According to Australia-based Ioneer, the Rhyolite…