American Pacific Borate & Lithium Ltd. said May 30 that it entered into another cooperation agreement with a Chinese state-owned company to sell boric acid from its Fort Cady borate project in Southern California.
The company intends to finalize a five-year sales contract with China National Machinery Industry Corp. subsidiary China National Chemical Fiber Corp. from the project's phase-one production of 82,000 tonnes.
By Dec. 31, the companies will also negotiate expected long-term tonnage from the second phase of the mine's production.
Earlier this week, American Pacific entered into a nonbinding strategic cooperation agreement with a unit of Chinese state-owned enterprise Sinochem Group for potential annual off-take of up to 40,000 tonnes of boric acid.
