Boron One Secures Multi-Year Offtake Agreement for Boron Products

Boron One Holdings Inc., based in Victoria, BC, has signed a binding offtake agreement for the sale of boron mineral concentrates and derivative products. This agreement, lasting three years, will commence once the company's production facilities are fully operational. It requires the buyer to purchase a minimum of 25,000 tonnes annually, with an option to buy up to 50,000 tonnes per year. A take-or-pay clause assures penalty payments for the buyer if annual purchase commitments are not met.

Pricing will align with market rates but will not fall below a set minimum. The agreement's terms require Boron One to obtain necessary permits and successfully complete a plant qualification trial before production starts. Tim Daniels, President, highlighted this agreement as a key commercial milestone, potentially substantial given current boron prices exceeding US$1,000 per tonne. The arrangement aims to bolster Boron One’s development and financing efforts.