Renascor Resources (ASX:RNU) has finalised an Indigenous Land Use Agreement (ILUA) with the Barngarla Determination Aboriginal Corporation RNTBC (BDAC) after four years of negotiations.
BDAC represents the Barngarla People, the Traditional Owners of the land surrounding the upstream portion of Renascor’s proposed vertically integrated Battery Anode Material Manufacturing Project in South Australia, known as the Siviour Graphite Project.
The agreement follows over four years of collaborative engagement between BDAC and Renascor during the conceptualisation and planning stages of the project.
“We have worked closely with the Barngarla People since the discovery of the Siviour Graphite Deposit… this agreement builds on the collaborative relationship we have developed during the planning stages and provides a framework for ensuring continuing respect for Aboriginal Heritage and opportunities for the Barngarla People as we advance to construction and operation,” Renascor Managing Director David Christensen said.
The project aims to produce Purified Spherical Graphite using Renascor’s eco-friendly purification process, through upstream mining operations and desalination plant pipelines which cross over BDAC’s Native Title land.
The agreement follows Export Finance Australia (EFA) approving a $185 million loan from the Australian Government’s $4 billion Critical Minerals Facility to support the BAM Project, which integrates with the Siviour Graphite Deposit.
“Over the past 4 years Renascor have steadfastly shown their commitment to transparent and genuine engagement with BDAC… we look forward to a continued respectful and productive collaboration with Renascor and working together to advance the Siviour Graphite Project for our shared benefit whilst ensuring our Country and Cultural Heritage is protected and maintained.” BDAC Chairperson Sonja Dare said.
The ILUA includes provisions for employment, training, and contracting opportunities for members of the Barngarla People, as well as initiatives for cultural awareness and communication.
This marks another step towards Renascor becoming a diversified source of refined graphite products for the EV battery industry.
RNU last traded at 10.3 cents.