5E Advanced Metals Targets Use of Boric Acid from California Site in Future Ferroboron Production; Shares Jump 6%

MT Newswires Live

02/05

5E Advanced Metals (ASX:5EA) said it would target the future production of ferroboron, and it plans to establish a US-based supply chain, using upstream feedstock of boric acid produced from its Fort Cady site in California, according to a Thursday Australian bourse filing.

It began evaluations of engineering pathways, capital requirements, and partnership frameworks. It seeks to collaborate with a magnet producer in the US for its ferroboron supply.

Ferroboron is an iron-boron alloy used as a boron additive in specialty steel and as a boron source for neodymium-iron-boron magnet alloy feedstock.

Its shares jumped 6% in recent trading on Thursday.

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