Located in the SE desert region of California


Historic pilot plant operations


Colemanite core samples


On site pilot plant


Substantial historic resource drilling


Welcome to the website of American Pacific Borates Limited (ASX:ABR). ABR’s Fort Cady Borate Mine in California hosts a multi-generational Borate resource where boric acid, gypsum and potassium sulfate (SOP) will be produced for the large North American specialty fertiliser market and new high end technologies like electric vehicles and space shuttles.

ABR completed an Enhanced Definitive Feasibility Study (eDFS) in April 2020, which builds on the starter project as announced in January 2019, by incorporating further engineering work completed, as well as value engineering that has seen a substantial increase in proposed SOP production. SOP production (in full production) has increased to 363ktpa from 109ktpa, an increase of 233%. Boric acid production remains unchanged at 408ktpa in full production, but importantly Phase One A production has increased by 50 percent to 8.2ktpa from 5.4ktpa.

In June 2020, the Company secured total financing of A$77M to fully finance Phase One A, and was subsequently awarded its final operational permit in August 2020.  Substantive construction activities have commenced, with first production on track for Q3 CY2021.

Phase One A will target the production of 40kstpa of SOP (K2SO4) and 9kstpa of boric acid (H3BO3).

Phase One B will increase SOP production to 80kstpa, and boric acid production to 90kstpa.

Exceptional financial metrics for starter project (Phase One A) include:

  • Capex of only US$50.3m inclusive of a 13% contingency;;
  • Unlevered, post tax NPV8 of US$224.3m and IRR of 35.9%; and;
  • EBITDA in first full year of production US$19.6m.

The strength of standalone Phase One A financial metrics means the Company can continue to target financing this project in isolation. It also delivers a pathway for development of the Project through the phases, with the ultimate goal of reaching full production and the forecast EBITDA for the first full year of production of US$438.4million.


Fort Cady Project (Boric Acid and SoP Production)
Phase 1A Only
NPV8 US$224.3 million
IRR 35.9%
EBITDA in first full year of production US$19.6 million
Phase 1A & 1B Only
NPV8 US$773.8 million
IRR 32.4%
EBITDA in first full year of production US$73.2 million
Phase 1 & 2 Only
NPV8 US$1.709 billion
IRR 37.8%
EBITDA in first full year of production US$242.2 million
Full Project (Phases 1, 2, & 3)
NPV8 US$1.965 billion
IRR 39.4%
EBITDA in first full year of production US$438.4 million

Latest News


Michael X. Schlumpberger
presenting at the Mining Journal Select conference, London in June 2019