Federal land managers gave their final approval Thursday for a massive lithium-boron mine in Southern Nevada, becoming the first domestic lithium project to get full regulatory approval under the Biden Administration.

The U.S. Interior Department on Thursday gave final approval to ioneer's Rhyolite Ridge lithium mine in Nevada, the first domestic source of the battery metal to be permitted by President Joe Biden's administration and one that will become a key supplier to Ford and other electric vehicle manufacturers.

For the first time under President Joe Biden, a federal permit for a new lithium mine in the U.S. has been approved.