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- Renascor Resources (RNU) has secured a site for its proposed battery anode material (BAM) facility to produce purified spherical graphite
- The company entered an agreement with utility company SA Water to lease a 20-hectare site north of Adelaide for 40 years
- Managing Director David Christensen says the deal provides certainty over a key component of RNU’s plans to become a leading producer for the lithium-ion battery sector
- Renascor is undertaking an optimised study for its vertically-integrated operation, which includes the Siviour graphite deposit, mine and concentrator, and the BAM facility
- Renascor Resources shares are up 2.33 per cent to trade at 22 cents at 11:48 am AEST
Renascor Resources (RNU) has entered an option-to-lease agreement with SA Water to lease a 20-hectare site for 40 years.
The site is roughly 20 kilometres from South Australia’s main shipping port at Port Adelaide and is also close to SA Water’s Bolivar water treatment and industrial facilities.
Renascor has chosen the site for its proposed battery anode material (BAM) facility to produce purified spherical graphite (PSG) to make lithium-ion batteries for the electric vehicle industry.
The company said this site would be suitable for its BAM facility and that it was of sufficient scale to permit an increase to the originally-planned stage one production capacity of 28,000 tonnes per annum as well as additional stage two PSG production capacity.
RNU Managing Director David Christensen said he was “delighted” to have entered the option-to-lease deal for the BAM site.
“It provides certainty over a key component of our plans to become a leading producer of PSG for the growing lithium-ion battery sector,” Mr Christensen said.
“Renascor will be able to leverage off the high quality of the Siviour Resource by vertically integrating the mine and concentrator with a state-of-the-art BAM manufacturing facility to supply responsibly produced, 100 per cent Australian-made PSG for the lithium-ion battery industry.”
The company is currently undertaking an optimised study for its vertically-integrated operation which includes the Siviour graphite deposit, the Siviour graphite mine and concentrator, and the BAM facility.
Renascor is also progressing other work streams, such as resource expansion drilling, offtake discussions and satisfying the conditions for a $185 million loan facility from Export Finance Australia.
Company shares were up 2.33 per cent to trade at 22 cents at 11:48 am AEST.
