ioneer (ASX:INR) secured strategic non-binding letters of intent with the Korea Overseas Infrastructure & Urban Development to invest in overseas infrastructure and public-private partnership projects, and Hyundai Engineering to advance the Rhyolite Ridge project in Nevada, according to a Tuesday filing with the Australian bourse.

The company is anticipating a final investment decision for the project in the second half of the year, with first commercial production expected in 2029, the filing said.

The execution of formal memoranda of understanding is expected in July, per the filing.