- Renascor Resources (RNU) is awarded major project status for its Siviour Battery Anode Material Project in South Australia by the Australian Government
- The company aims to become a leading supplier of Australian and low-cost purified spherical graphite for lithium-ion battery anode manufacturers
- Major project status provides Renascor with extra support from the Major
- Project Facilitation Office Agency
- On the market close, Renascor is up 26.9 per cent and is trading at 16.5 cents per share
Renascor Resources (RNU) has been awarded major project status for its planned Siviour Battery Anode Material operation in South Australia.
The grant was awarded by the Minister for Industry, Science and Technology, the Hon Christian Porter.
This grant shows the strategic significance of the $209 million Siviour Project contributing to Australia's critical mineral strategy 2019.
Siviour includes the Siviour Graphite Deposit, the largest reported graphite reserve outside of Africa, and a state-of-the-art processing facility.
Through this project, Renascor aims to become a leading supplier of Australian made and low cost purified spherical graphite for lithium-ion battery anode manufacturers worldwide.
Major project status provides Renascor with extra support from the Major
Project Facilitation Office Agency, including a single-entry point for Australian Government approvals, project support and coordination with State approvals.
Commenting on the granting of Major Project Status is Renascor Managing Director David Christensen.
"The award of Major Project Status is an important recognition of the strategic
importance of Siviour as both a world-class mineral resource and its potential to add further value through a downstream operation in Australia to produce a globally competitive, 100 per cent Australian-made refined graphite product on globally competitive terms for direct sale to the lithium-ion battery supply chain," Mr Christensen said.
"The Major Project Status designation will assist us as we progress Siviour through the final development phases and will offer an important endorsement of the project as we enter binding offtake negotiations and embark on project financing."
Notably, the project is on track to become the first in-country graphite mine and
battery anode material operation outside of China, positioning Australia as an important participant in the global battery industry and electric vehicle markets.
On the market close, Renascor Resources was up 26.9 per cent and is trading at 16.5 cents per share.