Renascor Resources has fast-tracked development of massive deposit yielding high-grade graphite concentrates at a cost low enough to compete anywhere in the world.
Australia could be two years away from becoming home to one of the world’s largest graphite mines, with Adelaide-based junior miner Renascor Resources given a big boost towards its plans to turn Australia’s biggest graphite resource into a producing mine by 2021 after a European governmental agency earmarked substantial financial support.
Published June 18, 2019 by Eyre Peninsula Tribune | Written by Rachel McDonald |
Community members voiced their support for a proposed graphite mine and processing facility at Arno Bay during information sessions hosted by Renascor Resources
Published: June 12, 2019 by Stockhead | Written by Angela East |
The graphite market is heading quickly towards a supply deficit and this is likely to see more buyers look to Australia to help fill the gap.
David Christensen, the boss of graphite hopeful Renascor Resources (ASX:RNU), told Stockhead there was a “paradigm shift” happening where there won’t be enough graphite, either synthetic or natural, for the growing lithium-ion battery market.
In April, Renascor Resources (ASX: RNU) caught a rocket after its Siviour graphite project scored potential project finance support from the Dutch government.
This news, alongside an updated resource estimate for Siviour, saw the South Australian explorer spike 30 per cent over a few days.
Now, the company says this potential funding means it can expand Stage 1 production by a whopping 400 per cent.
The new, optimised plan envisages Stage 1 production of 83,400 tonnes of graphite concentrate a year – up from 22,800t previously.
Renascor Resources Limited (ASX: RNU), a mineral explorer, announced an optimised development plan (ODP) for its Siviour Graphite Project on 3rd May 2019. As per the company, the adopted optimised plan will enhance the production profile of the stage-one processing capacity by approx. four times. The updated plan led the company to secure support from Atradius Dutch States Business in terms of project finance. As per the company, the optimised plan is based on a two-stage approach to achieve 145,000 tonnes per annum of production.
SOUTH Australian graphite contender Renascor Resources has substantially increased the size of its planned Siviour development, with results of a definitive feasibility study still due in July.
Under the enlarged scenario, output in the first stage has gone from around 23,000 tonnes per annum of graphite concentrate to 83,400tpa, with capital costs rising from an estimated US$29 million to $78 million.
