- Renascor Resources (RNU) is progressing testwork, financing and offtake deals for its Siviour Battery Anode Material Project in South Australia
- Flotation optimising trials are showing improved graphite purities and recoveries, which allow for lower operating costs and higher plant productivity
- Significantly, German specialists have verified Renascor’s purification process has achieved 99.98 per cent pure carbon — exceeding industry specifications
- Additionally, the graphite company is progressing financing discussions and potential offtake partners for its purified spherical graphite (PSG) product
- Excitingly, Renascor is getting closer and closer to constructing Australia’s first integrated PSG operation outside of China
- Renascor is up 8.7 per cent and shares are trading at 7.5 cents
Renascor Resources (RNU) has provided an update on its wholly owned Siviour Battery Anode Material Project in South Australia.
The company has been advancing flotation optimisation and purification testwork, offtake and marketing discussions, and a financing strategy for its project.
Excitingly, this work is getting Renascor one step closer to construct Australia’s first integrated, in-country mine and purified spherical graphite (PSG) operation outside of China.
“Renascor’s strategy to source Graphite Concentrate from our 100 per cent-owned Siviour Graphite deposit and then convert that feedstock to purified spherical graphite at our battery anode manufacturing facility, also located in South Australia, gives rise to significant cost, ESG and security of supply advantages,” Managing Director David Christensen said.
Flotation optimisation test work
Flotation optimisation trials are ongoing at ALS Metallurgy in Perth, WA, and have achieved increased purities and recoveries of graphite into concentrate. This paves the way for lower operating costs while increasing plant productivity.
The outcomes of the ongoing testwork will support feasibility studies as Renascor progresses the project towards a front-end engineering design (FEED) study.
Purification test work
Purification test work has also returned encouraging results. German industrial processing specialist Dorfner Anzaplan has verified the downstream caustic roasting and leaching purification process, exceeding the anode industry standard with a result of 99.98 per cent carbon.
These results follow five years of mineral processing tests which have allowed the company to nearly perfect their purification technique by avoiding the use of hydrofluoric acid. This creates an environmentally friendly and cost-effective method of purifying natural flake graphite to be used in lithium-ion battery anodes.
Renascor will use these results for detailed engineering design of the battery anode manufacturing facility.
Regulatory and stakeholder relations
The company is in the process of choosing the right site for its downstream PSG facility — with Port Adelaide being the number one contender.
Renascor is now preparing documentation for the program for environmental protection and rehabilitation approvals, which is the second step in the South Australia Government’s two-step approval process. The first step was Renascor being granted a mineral lease for Siviour in April 2019.
Clean Energy Finance Corporation
The Clean Energy Finance Corporation (CEFC) has confirmed it will progress discussions for project financing.
The CEFC is an Australian Government organisation that invests in the development of clean energy technologies in Australia.
This represents the first milestone in Renascor’s engagement with the CEFC. The next step will be the CEFC conducting more due diligence.
Offtake and marketing
Renascor has received a significant volume of enquiries from offtakers for the remaining one-third of the stage one PSG. Additionally, multiple battery anode material customers are undertaking product testing.
However, the company has already managed to secure two 10-year offtake agreements for up to 10,000 tonnes per annum of PSG. The companies are Shanxi Minguang New Material Technology and Jiangxi Zhengtuo New Energy Technology.
“As we advance the development of the world-class Siviour Battery Anode Material Project, we are grateful to have the support of the local community, all levels of government, financing agencies, including the Clean Energy Finance Corporation and Export Finance Australia, and strong potential offtake partners,” David concluded.
Renascor is up 8.7 per cent and shares are trading at 7.5 cents at 10:31 am AEDT.