5E Advanced Materials Teams Up with Fluor Corporation for Engineering Work on Boron and Lithium Project

5E Advanced Materials, known for its focus on boron and lithium, has announced the selection of Fluor Corporation as its engineering, procurement, and construction (EPC) services provider. This partnership is set to advance the engineering process work on the commercial Phase 1 of the 5E Boron Americas Complex.

Engineering Progression

• FEL-2 Phase: Fluor's initial role involves leading the FEL-2 (Front-End Loading 2) phase, which is integral to the upgrading of 5E's current S-K 1300 technical document into a Pre-Feasibility Study (PFS) upon completion.
• May 2023 Technical Document: The results of the S-K 1300 technical document, released on May 11, 2023, detailed the potential of the 5E Boron Americas Complex located in Fort Cady, California. Key highlights included a substantial resource estimate, projected EBITDA and margin for FY 2027, a post-tax NPV8, and IRR.
• Phase 1 Goals: The Phase 1 of the project targets the production of 90,000 short tons of boric acid and 1,100 short tons of lithium carbonate, with a go-live date targeted for the second half of 2026.

Executive Insights

• 5E Advanced Materials CEO: Susan Brennan, CEO of 5E, expressed excitement about partnering with Fluor, emphasizing the EPC firm's significant track record and its role in advancing the project towards a PFS-level study. She highlighted 5E's recent achievements, including successful recapitalization and the commencement of mining operations.
• Fluor's Statement: Michael Woloschuk, Executive Director of Critical Minerals at Fluor's Mining & Metals business line, expressed enthusiasm for supporting 5E in this endeavor. He noted the project's significance in contributing to the US domestic supply of lithium, boron, and other critical materials. The collaboration is expected to bolster domestic supply chains in various sectors, including electric transportation and renewable energy.

The collaboration between 5E Advanced Materials and Fluor Corporation marks a significant step in the development of critical materials essential for various high-value applications. This project is poised to enhance the domestic production capabilities and contribute to the stability of supply chains in key sectors.