Total
0
Shares
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Renascor Resources (RNU) is investigating green financing options for the Siviour Battery Anode Material Project in South Australia
  • The company says it is on track to produce a material critical to the electric vehicle supply chain, at a low cost, using an ESG-friendly spherical purification process
  • By vertically integrating the mine and downstream processing operations in South Australia, Renascor will optimise the use of local resources to lessen costly and inefficient transport of raw materials for intermediate processing
  • The company is up 7.87 per cent, trading at 9.6 cents

Renascor Resources (RNU) is investigating green financing options for the Siviour Battery Anode Material Project in South Australia.

“Renascor is on track to produce a material critical to the electric vehicle supply chain, at a low cost, within a tier one ESG jurisdiction, using an ESG friendly spherical purification process," said Managing Director, David Christensen.

The Siviour Project exhibits strong ESG credentials that have helped attract financial support from Australia’s Clean Energy Finance Corporation (CEFC), an Australian Government-backed clean energy technology financier.

It plans to develop the world’s first integrated, in-country mine and purified spherical graphite operation outside of China. With executed offtake MOUs and increasing inbound offtake demand, Renascor plans for a substantial increase in PSG production capacity beyond the currently planned 28,000 tonnes per annum.

Graphite is considered a "critical mineral" by the Australian Trade and Investment Commission, with high-value purified spherical graphite (PSG) a key raw material in the manufacture of lithium-ion batteries.

Currently, 100 per cent of PSG produced from natural flake graphite is produced in China. Renascor plans to conduct its operations in South Australia, a tier-one ESG jurisdiction with low sovereign risk and, according to the company, a robust and transparent regulatory framework.

By vertically integrating the mine and downstream processing operations in South Australia, Renascor will optimise the use of local resources to lessen costly and inefficient transport of raw materials, while ensuring strong ESG oversight of the entire supply chain.  

Renascor’s purification process also offers an eco-friendly alternative to the PSG purification process in China. A hydrofluoric acid-free purification process has been developed by the company, with test work by German industrial processing specialists Dorfner Anzaplan verifying its eco-friendly roasting and leaching process exceeds typical purity specifications.

Renascor has received a letter of support for the provision of finance from EFA, with the project estimated to provide export revenue for South Australia of US$167 million (roughly A$216 million) per annum.

The company is up 7.87 per cent, trading at 9.6 cents at 1:35 pm AEST.

RNU by the numbers
More From The Market Herald
92 Energy (ASX:92E) - CEO, Siobhan Lancaster - The Market Herald

" 92 Energy (ASX:92E) expands uranium portfolio in Canada

92 Energy (92E) has expanded its portfolio in the Athabasca Basin in Canada after purchasing two uranium exploration projects.
State Gas (ASX:GAS) production update for Reid’s Dome gas project

" BPH Energy’s (ASX:BPH) shares ascend on Sydney Basin gas potential

BPH Energy (BPH) energy shares have spiked after a Geoscience Australia Report highlighted geophysical indications of gas in the Offshore Sydney Basin.
Liquefied Natural Gas (ASX:LNG) congratulates Delta Offshore for IRC

" State Gas (ASX:GAS) begins drilling 1st Rougemont well

State Gas (GAS) has commenced drilling the first well in its new Rolleston-West Gas Project in Central Queensland.
Red Sky Energy (ASX:ROG) - Managing Director, Andrew Knox - The Market Herald

" Red Sky Energy’s (ASX:ROG) Killanoola pump in “excellent” condition

Red Sky Energy (ROG) has wrapped up an inspection of one of its linear rod pumps (LRP) at the Killanoola Oil Project and