Company commences mining operations and advances vision of becoming the newest domestic producer of boric acid in decades
5E Advanced Materials, Inc. (Nasdaq: FEAM) (ASX: 5EA) (5E or the Company), a boron and lithium company with U.S. government Critical Infrastructure designation for its 5E Boron Americas Complex, today announced that it has officially begun mining operations at the Company’s 5E Boron Americas Complex with the startup of the wellfield injection process.
The Company is now working under its EPA UIC permit to begin extracting valuable minerals from its wholly owned project at Fort Cady. The Company recently announced its operational plan and has now started wellfield operations with the goal of completing outstanding operational items at the facility in parallel. 5E expects to begin lab production in the short-term and production of boric acid and lithium carbonate from the small-scale facility by the end of the first calendar quarter of 2024. This initial production will be used for customer qualification as the Company seeks to obtain bankable offtake agreements and future sales to support FEL 2 engineering as the Company focuses on commercial scale.
Susan Brennan, 5E Advanced Materials CEO stated: “We are excited about reaching this major milestone through the launch of mining operations today at our 5E Boron Americas Complex. The 5E team has been resilient through the construction process, navigating several challenges and ultimately bringing our facility on-line. We look forward to 2024 as we continue advancing our vision as we now become the newest domestic producer of boric acid and lithium carbonate.”
Media and Investor inquiries:
Elvis Jurcevic
ej@irxadvisors.com
+61408268271
