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: