PERTH (miningweekly.com) – ASX-listed Renascor Resources has struck a non-binding strategic cooperation memorandum of understanding (MoU) with Japanese chemicals giant Mitsubishi Chemical Corporation.

The MoU allows for the potential purchase of graphite concentrates, purified spherical graphite and other graphite concentrates from Renascor’s Siviour graphite and battery anode material (BAM) project in South Australia.

Under the MoU, the two parties will also work on a commercial partnership to help facilitate the development of the BAM project.

“We are delighted to be working with Mitsubishi Chemical, one of the world’s leading anode manufacturers, with an established track record of supplying high-quality anodes to the lithium-ion battery sector,” said Renascor MD David Christensen.

“As we move forward to the completion of our optimised BAM study and our transition into the construction phase, we will continue to align Renascor with leading anode companies seeking high-quality graphite concentrates and purified spherical graphite. Our agreement with Mitsubishi Chemical is a further significant step toward Renascor constructing, in Australia, the first integrated, in-country mine and purified spherical graphite operation outside of China.”

Renascor intends to integrate the Siviour graphite mine and concentrator operation with the BAM project, using concentrates from the Siviour mining operation to produce purified spherical graphite for use in lithium-ion battery anodes.

The company is currently in the advanced stages of an updated and optimised BAM study. The optimised BAM study, which is assessing an increase in purified spherical graphite production capacity, as well as additional staged expansion of purified spherical graphite operations, will reflect the accelerated commencement of construction and operation of the Siviour mine and concentrator.