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- 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.
