PERTH (miningweekly.com) – ASX-listed Renascor Resource’s A$209-million Siviour battery anode material operation, in South Australia, has been granted Major Project status by the federal government.
Minister for Resources and Water Keith Pitt said the Siviour project is expected to support over 100 new jobs during the construction phase and an additional 190 full-time roles over the 40-year life of the project.
“The Australian government is pleased to support the Siviour project, which will bring new jobs and other economic benefits to South Australian communities while also boosting Australia’s position as a leading global critical minerals industry,” Pitt said.
“The project has the potential to generate around A$260-million a year in export revenue, and will also help increase Australia’s international competitiveness and help position us a future leader in this sector.
“The project is another step on the path to gaining a slice of the A$400-billion world critical minerals market. Whether it is mobile phones and laptops, medical equipment or electric cars, rare earth minerals are the essential components of so much manufacturing today and into the future.
“This project directly contributes to Australia’s Critical Mineral Strategy by increasing the supply of graphite and expanding Australia’s capability to refine and process rare earth minerals.”
Renascor told shareholders that the award of Major Project status would provide the company with extra support from the Major Project Facilitation Office Agency, including a single entry point for Australian government approvals, project support and coordination with state approvals.
“The award of Major Project status is an important recognition of the strategic importance of Siviour as both a world-class mineral resource and its potential to add further value through a downstream operation in Australia to produce a globally competitive, 100% Australian-made refined graphite product on globally competitive terms for direct sale to the lithium-ion battery supply chain,” said Renascor MD David Christensen.
“The Major Project status designation will assist us as we progress Siviour through the final development phases and will offer an important endorsement of the project as we enter binding offtake negotiations and embark on project financing.”
The Siviour project includes a graphite mine and concentrator located in the Eyre Peninsula and a downstream purified spherical graphite manufacturing facility located in Port Adelaide.
The project is on track to become the first in-country integrated graphite mine and battery anode material operation outside of China, positioning Australia as an important participant in the global battery industry and electric vehicle markets.