ioneer (ASX:INR) completes its Asian boric acid distribution and sales

Company News

by Rachael Jones

Lithium–boron supplier ioneer (ASX:INR) has secured two separate boric acid Distribution and Sales Agreements for the supply of boric acid from their Rhyolite Ridge Lithium-Boron Project in Nevada, USA.

This substantially completes its Asian boric acid distribution and sales network.

The Agreements were signed with: Kintamani Resources Pte for the territories of Malaysia, Indonesia, Singapore, Thailand, Vietnam and the Philippines.

And Boron Bazar for the territories of Bangladesh, India, Pakistan and Myanmar.

These Agreements are in addition to ioneer’s binding offtake agreement with Dalian Jinma Boron Technology Group Co. for 105,000 tonnes per annum of boric acid which included a distribution agreement for the territories of China and Taiwan.

The additional Agreements announced today mean 100 per cent of ioneer’s first year of boric acid production is spoken for.

Shares in ioneer (ASX:INR) are trading 8.7 per cent higher at 13 cents.