Renascor awarded a $5 million International Partnerships in Critical Minerals Program grant
Grant to co-fund development of Purified Spherical Graphite (PSG) demonstration processing plant
Plant will produce battery-grade PSG for use in lithium-ion battery anodes.
Special Report: Renascor Resources has secured a $5 million grant under the Australian Government’s International Partnerships in Critical Minerals Program for its planned Battery Anode Material graphite mine and manufacturing operation in South Australia.
The International Partnerships in Critical Minerals Program is intended to support critical minerals projects that contribute to building end-to-end supply chains with Australia’s international partners in the critical minerals sector.
The grant will co-fund up to 49.9% of the capital cost of a $10m demonstration processing plant that will produce battery-grade Purified Spherical Graphite for use in lithium-ion battery anodes.
The PSG demonstration facility will process graphite concentrates from the company’s Siviour deposit and will incorporate previously completed design work undertaken as part of Renascor’s definitive feasibility level Battery Anode Material Study.
The aim is to demonstrate the commercial viability of Renascor Resources’ (ASX:RNU) eco-friendly, hydrofluoric acid-free PSG process.
The company intends to commence procurement of plant equipment in the current quarter, with commissioning planned for Q2 2025.
Grant application back by offtakers
The company’s grant application was supported by South Korean conglomerate POSCO International and Japanese trading company Hanwa Co. – both of which they have entered into non-binding offtake agreements with.
“The award of this grant recognises the strategic significance of the Siviour battery anode material project and its potential to become a long-term producer of purified spherical graphite for the lithium-ion battery sector,” MD David Christensen said.
“With this grant funding, we will now be able to build upon the significant work already completed on our downstream processing designs and further demonstrate that our eco-friendly, Hf-free purification technology can deliver a globally competitive PSG production operation.
“Renascor thanks both the Australian Government and our international partners, POSCO International and Hanwa Co Ltd. for their support in helping to unlock critical minerals processing capability in Australia.”
Future works
Renascor is currently progressing a competitive Early Contractor Involvement process for its proposed Siviour mine and concentrator, the upstream portion of the BAM project, as part of its strategy to first accelerate the production of graphite concentrates before producing PSG as the first integrated ex-China producer for lithium-ion battery anodes.
In parallel, the company is in discussions with lithium-ion battery market participants regarding both potential binding offtake terms, as well as potential equity investments to help meet the BAM project’s initial capital requirements.
This article was developed in collaboration with Renascor Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
The post Renascor Resources nabs $5m Federal grant to co-fund graphite demonstration plant appeared first on Stockhead.
