5E Advanced Metals nearing completion of first phase

5E Advanced Materials provides an update on its path to becoming a globally significant producer of boron and lithium. Initial Production of Boron from 5E Boron Americas Complex: Commissioning activities continue with plant and well-field construction substantially complete. The timeline for initial production of boric acid is currently subject to the receipt of a final approval from the U.S. Environmental Protection Agency under the Company’s Underground Injection Control Permit. On August 13, 2020 the EPA awarded the Company’s UIC Permit for extraction of boron and lithium. The permit contained several conditions to be completed prior commencement of mining. Key required reports and documentation were submitted to EPA for their approval in CYQ4 2022. The Company believes it is in full compliance with the terms of the permit. The EPA is currently reviewing these documents, and the company is responding to any questions. The Company expects to receive authorization to commence mining upon completion of EPA’s review. Importantly, the well-field and processing plant is on target commence production once the authorization is received by the Company.