Sydney-headquartered Ioneer Limited has been selected by the U.S. Army for a long-term lease at the Tooele Army Depot in Utah, marking a major step in the company’s push to help establish a domestic US boron supply chain.
The conditional award will enable Ioneer USA Corporation to design, finance, build and operate a boron processing facility on underutilised land at the Army installation, as the U.S. looks to strengthen domestic supply chains for minerals deemed critical to defence and energy security.
Ioneer said it was proud to be partnering with the U.S. Army to help build a secure domestic boron supply chain, with the company’s Rhyolite Ridge lithium-boron project in Nevada positioned as a key feedstock source.
The company said Rhyolite Ridge hosts the largest undeveloped boron ore reserve in the world outside Türkiye, as well as the only undeveloped boron ore reserve in North America.
The award forms part of the U.S. Army’s Strategic Capital Initiatives, which seeks to partner with the private sector to accelerate enterprise-wide modernisation while supporting domestic industrial capability.
In addition to Ioneer, the Army selected Empire State Mines for graphite processing at Anniston Army Depot in Alabama and Pine Bluff Arsenal in Arkansas, EnergyX for lithium processing at Red River Army Depot in Texas, and REalloys for dysprosium and terbium processing at Tooele Army Depot.
“The ability to process critical minerals on U.S. soil is a national-defence priority required for munitions, missiles, sensors, batteries, and the platforms our soldiers depend on,” U.S. Army principal deputy assistant secretary for installations, energy and environment Jeff Waksman said.
“Leveraging our legal authorities and land, the U.S. Army is able to help nurture a critical minerals industrial base which equips and sustains America’s soldiers without putting any taxpayer dollars at risk.”
The U.S. Army said formal lease agreements with the selected companies are now under negotiation, with development slated to begin as early as 2027 and an initial operating capability targeted by, or ahead of, 2028.
The conditional awards are being delivered through an Enhanced Use Lease structure, in which the Army retains ownership of the land while private-sector lessees cover the costs of financing, building, operating, securing, and decommissioning the facilities.
In return, lessees will pay rent at or above fair market value, with the Army preferring in-kind consideration through infrastructure improvements on the host installation.
The U.S. Government added boron to its list of critical minerals in November 2025, with the mineral recognised for its use in military applications, including advanced armour, high-strength permanent magnets, semiconductors and nuclear applications.
Ioneer said boron ceramics such as boron carbide and boron nitride remain essential to defence supply chains, reinforcing the strategic importance of developing domestic processing capacity.
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