Boron One Signs Second Binding Offtake Agreement for Sale of Boron Concentrates and Refined Boron Products

Boron One Holdings Inc. has entered into a second binding three-year offtake agreement with a Singapore-based global distribution company. The contract commits the buyer to purchasing 50,000 tons/year of Ulexite, up to 20,000 tons/year of Colemanite, 50,000 tons/year of Boric Acid, and 50,000 tons/year of Borax.

Pricing under the agreement is tied to prevailing market rates with a minimum floor price formula. The contract includes take-or-pay provisions for certain shortfalls. The agreement is conditional upon the completion of mining and processing facilities and the receipt of all necessary permits for commercial production.

This development follows a first binding offtake agreement announced on May 27, 2026, which committed to a minimum of 25,000 tons/year with an option to scale to 50,000 tons. The announcement aligns with the company's stated strategy to validate its business model, demonstrate customer demand, and secure project financing ahead of construction.

Boron One Holdings Inc. (BONE) has entered into a second offtake agreement that materially expands its committed volume profile, effectively doubling the baseline purchase commitments compared to the May 2026 contract. The deal includes take-or-pay clauses and floor pricing, establishing a predictable revenue floor that addresses a primary hurdle for pre-production mining projects: securing debt or project financing.

The announcement does not alter the capital expenditure timeline, permitting status, or immediate cash flow position, as production has not yet commenced. Instead, the agreement serves as a validation step, reinforcing the narrative that the company is progressing methodically toward its feasibility and financing milestones.

Boron One Holdings Inc. is advancing the development of the Piskanja boron project in Serbia. A Preliminary Economic Assessment (PEA) released on October 14, 2026, outlined a post-tax net present value (NPV) of $638.8 million and an internal rate of return (IRR) of 89.0%. The study indicated a capital payback period of less than 12 months from the start of commercial production.

The project features an initial capital cost estimate of $79.9 million and a planned life of mine of 13 years. Operations are designed to utilize underground mining methods with continuous miners, supported by processing facilities capable of producing colemanite, ulexite, boric acid, and borax. Additionally, the company holds the Jarandol Basin exploration license, covering 21 km² adjacent to Piskanja, with the objective of targeting resource extensions.