5E Acquires Searles Valley, Becomes Boron Producer

5E Advanced Materials has completed its acquisition of Searles Valley Minerals’ operating assets through a court-supervised bankruptcy sale, shifting from a development-stage company to a revenue-generating boron and industrial-minerals producer. The acquired platform includes three processing sites, on-site cogeneration, a railroad and utility infrastructure, and a workforce of about 257; the operations produced more than 1 million short tons of minerals and related products in their last fiscal year. 5E says new take-or-pay and fixed-price offtake agreements raise netbacks by more than 65% compared with predecessor contracts, and its base plan targets about $40 million in steady-state annual Adjusted EBITDA through repricing, cost cuts and volume recovery. The transaction was structured to acquire operating assets while leaving specified legacy debt, claims and environmental liabilities with the seller’s estate. The company also sees potential upside beyond its base plan from borates, sulfate of potash, lithium and tungsten, alongside its existing Fort Cady project.