5E Advanced Materials has announced it has made significant progress towards commercial boric acid and lithium production at its 5E Boron Americas Complex.
A prominent player in the boron and lithium sector and holder of US government Critical Infrastructure designation for its 5E Boron Americas Complex, 5E Advanced Materials has recently provided an update on its mining operations and related endeavours, making significant strides towards achieving initial production.
Susan Brennan, Chief Executive Officer of 5E Advanced Materials, emphasised the significance of the Company’s recent progress: “This is an exciting time for all stakeholders of the Company as we finalise a number of initiatives that will see us commence initial production next quarter.
“Our operations team is working diligently to transition our facility to operational status, and we are concurrently ramping up our commercial and marketing activities in order to leverage the value of our boron and lithium with potential customers.
“I cannot emphasise enough the importance 5E will represent in the US in the coming months as a new and secure producer of critical materials needed for clean energy economies.”
Advancements in boric acid and lithium extraction
Following the initiation of mining operations last month at the 5E Boron Americas Complex, the Company has successfully extracted boric acid and lithium from all four production wells.
Operational parameters such as initial head grade and recovery rates are meeting expectations, with continuous optimisation efforts underway to attain the desired operational efficiency.
The extracted solution has undergone laboratory crystallisation to yield boric acid, with further quality validation currently in progress through independent analysis.
Progress in facility operations
Considerable headway has been made in finalising electrical engineering tasks, marking a crucial step in facility operations.
Essential personnel are already on board, and final staffing arrangements are being finalised in preparation for the upcoming plant commissioning.
With these developments, 5E remains on track to commence commercial operations in CY Q2 2024, with a workforce of 51 professionals, including individuals from local communities.
Securing boric acid and lithium off-take agreements
Positive momentum continues in discussions with potential off-take partners, reflecting growing interest in 5E’s products.
The forthcoming quarter will witness the utilisation of initial production to validate products, particularly focusing on the acceptance of boric acid within various consumer segments.
Advocacy efforts and government relations
The Company’s advocacy efforts are gaining traction, aiming to garner increased governmental support for large-scale production at Fort Cady. Various funding proposals with federal agencies, including the Department of Defense (DOD) and Department of Energy (DOE), are in progress.
Moreover, 5E has publicly endorsed the inclusion of boron in the Critical Minerals List, which is administered by the United States Geological Society.
Enhanced investor engagement
In parallel with operational achievements, 5E is intensifying its investor engagement initiatives. This includes conducting analyst briefings, organising institutional investor meetings, and participating in industry conferences such as the recent Mines and Money conference in Miami.
Furthermore, the Company is implementing a comprehensive retail strategy to broaden awareness among both retail and institutional investors, utilising digital platforms for effective outreach.
As 5E Advanced Materials edges closer to achieving commercial boric acid and lithium production at its 5E Boron Americas Complex, its commitment to operational excellence, customer engagement, governmental advocacy, and investor relations remains unwavering.
These concerted efforts position 5E for sustained growth and success in the dynamic boron and lithium markets.
