5E Advanced Materials Announces Successful Delivery of Step-Rate Testing Results

Results provided to the Environmental Protection Agency for review, clearing the last condition to operate within its Underground Injection Control permit

HESPERIA, Calif., Oct. 26, 2023 (GLOBE NEWSWIRE) -- 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 (Fort Cady) Complex, today confirmed the submission of its Step-Rate Testing (“SRT”) results, to the Environmental Protection Agency (“EPA” or the “Agency”).  

Highlights:

• 5E confirms all data and reporting associated with the successful completion of Step-Rate testing under its permit conditions has now been submitted to the EPA
• Step rate testing results show that no modifications to mine plan, plant design or permit conditions are needed
• EPA to review submission and provide final approval that will allow 5E to commence boron and lithium mining operations at the 5E Boron Americas Complex
• The Company has started final assembly of the production wellfield to allow the timely start of operations once EPA authorization is achieved.

5E completed Step-Rate Testing on October 16, 2023, ahead of its planned schedule and delivered the test results to the EPA in accordance with the Agency’s approved protocols and is now awaiting a review of the results. The Company expects that upon completion of the Agency’s review, it will be granted official authorization to inject acid and therefore commence mining and plant operations at its 5E Boron Americas project.

“The expected results from the Step-Rate Test provide confidence that our planning and design work has demonstrated that our intended operations can perform safely and securely with respect to the extraction of boron and lithium from the wellfield. We look forward to the Agency’s completion of its review as we turn our focus now toward preparation for the commencement of operations,” said Chris Knight, VP of Operations at 5E Advanced Materials.

About 5E Advanced Materials, Inc.

5E Advanced Materials, Inc. (Nasdaq: FEAM) (ASX: 5EA) is focused on becoming a vertically integrated global leader and supplier of boron specialty and advanced materials, complemented by lithium co-product production. The Company’s mission is to become a supplier of these critical materials to industries addressing global decarbonization, food and domestic security. Boron and lithium products will target applications in the fields of electric transportation, clean energy infrastructure, such as solar and wind power, fertilizers, and domestic security. The business strategy and objectives are to develop capabilities ranging from upstream extraction and product sales of boric acid, lithium carbonate and potentially other co-products, to downstream boron advanced material processing and development. The business is based on our large domestic boron and lithium resource, which is located in Southern California and designated as Critical Infrastructure by the Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency.