Australia's Ioneer surges as US court backs lithium mine

Ioneer

31/03/2026 24:32

** Shares of Ioneer INR.AX rise as much as 32% to A$0.165, logging their best day since Oct. 7

** Stock hits its highest level since Feb. 26

** Lithium-boron producer says the U.S. District Court upheld permit for Rhyolite Ridge lithium and boron mine project in Nevada

** Mine is slated to become one of North America's largest sources of lithium, a metal important for batteries, and a key supplier to automaker Ford

** Stock down 27% this year, including the day's move

(Reporting by Rajasik Mukherjee in Bengaluru)

((Rajasik.Mukherjee@thomsonreuters.com))