Renascor Resources (ASX:RNU) dispatches graphite samples from Siviour project to offtake partners

• Renascor Resources (RNU) completes bulk production campaign to produce large-scale samples of purified spherical graphite (PSG) for customer qualification purposes as part of its Siviour graphite project in South Australia
• The company says the production of PSG is an important step in securing binding offtake agreements for the company’s planned manufacturing operation in SA
• Renascor has achieved potential offtake agreements covering up to 60,000 tonnes per annum of PSG, with multiple non-binding memoranda of understanding signed
• The company has recently announced a $185 million loan facility from the Australian Government which it says will support its aim of becoming a world leader in PSG
• RNU shares down 1.61 per cent at 30.5 cents

Renascor Resources (RNU) has completed a bulk production campaign to produce large-scale samples of purified spherical graphite (PSG) for offtake customer qualification purposes as part of its Siviour graphite project in South Australia.

The PSG campaign included the production of graphite concentrates from a 63-tonne bulk-scale production program.

Renascor said producing large-scale samples of PSG represented an important step in securing binding offtake agreements for its planned Siviour integrated graphite mine and battery anode material manufacturing operation.

The company has already entered into multiple non-binding memorandum of understanding (MOU) agreements covering potential offtake of up to 60,000 tonnes per annum of PSG.

The prospective offtake partners include South Korean conglomerate POSCO, Japan-based trading company Hanwa Co. and Chinese anode companies Shanxi Minguang New Material Technology and Jiangxi Zhengtuo New Energy Technology.

Large-scale PSG samples produced from the latest campaign were dispatched to existing offtake partners to support further customer qualification testing to secure binding offtake agreements, Renascor said. Additional samples were sent to other potential offtake partners.

Renascor recently announced a $185 million loan facility from the Australian Government via Export Finance Australia. The company said the debt funding would support its aim of becoming a leading supplier of Australian-made PSG for use in lithium-ion batteries anodes.

RNU shares were trading 1.61 per cent lower at 30.5 cents at 11:54 am AEDT.