Renascor Resources Limited’s (ASX: RNU) (Renascor) proposed Siviour Battery Anode Material operation South Australia has been awarded Major Project Status.
The grant of Major Project Status by the Australian Government is a recognition of the strategic significance of the Siviour Project in contributing to Australia’s Critical Mineral Strategy 2019 and the Resource Technology and Critical Mineral Processing National Manufacturing Priority Roadmap.
The Siviour Project’s vertically integrated operation combines the Siviour Graphite Deposit in South Australia (the largest reported graphite Reserve outside of Africa1), and a state-of-the-art processing facility in South Australia to manufacture Purified Spherical Graphite through Renascor’s eco-friendly, HF-free2 purification process.
Managing Director, David Christensen, said that through the Siviour Project, Renascor’s aim is to become a leading supplier of 100% Australian- made and low-cost Purified Spherical Graphite for lithium-ion battery anode manufacturers worldwide.
The awarding of 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.
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% 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.”
Federal Minister for Resources and Water Keith Pitt said the Siviour project is expected to support over 100 new jobs during the construction phase and an additional 190 full-time roles over the 40-year life of the project.
“The Australian Government is pleased to support the Siviour project, which will bring new jobs and other economic benefits to South Australian communities while also boosting Australia’s position as a leading global critical minerals industry,” Minister Pitt said.
“The project has the potential to generate around $260 million a year in export revenue, and will also help increase Australia’s international competitiveness and help position us a future leader in this sector.
“The project is another step on the path to gaining a slice of the $400 billion world critical minerals market.
“Whether it is mobile phones and laptops, medical equipment or electric cars, rare earth minerals are the essential components of so much manufacturing today and into the future.
“This project directly contributes to Australia’s Critical Mineral Strategy by increasing the supply of graphite and expanding Australia’s capability to refine and process rare earth minerals.”
The Siviour Graphite Deposit is the largest reported graphite Reserve outside of Africa.