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Vittangi battery anode project, Sweden – update

Image of graphite specimen

23rd June 2023

By: Sheila Barradas

Creamer Media Research Coordinator & Senior Deputy Editor

     

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Name of the Project
Vittangi battery anode project.

Location
Northern Sweden.

Project Owner/s
Battery anode and advanced materials company Talga Group.

Project Description
A detailed feasibility study (DFS) has confirmed the Vittangi project’s potential to supply globally competitive green graphite anode, suitable for multiple applications, including Tier 1 automotive lithium-ion batteries.

The DFS envisages a vertically integrated mine-to-anode operation producing 19 500 t/y battery anode Talnode-C from 100 000 t/y of Vittangi graphite ore over a 24-year mine life. Vittangi will use 100% renewable electricity to produce the initial 19 500 t/y of green anode.

A scoping study was also completed during the DFS to evaluate the potential addition of about 85 000 t/y Talnode-C production from the adjacent Niska resources. This study identified significant commercial synergies to unify deposit development and production plans to maximise the potential of the project area. This will be subject to separate studies following further discussions with customers and development partners.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at an 8% discount rate, of $1.05-billion and an internal rate of return of 30%, with a payback of 2.5 years after the project is commissioned.

Capital Expenditure
$484-million, and a $44-million contingency.

Planned Start/End Date
Mining is planned to start in 2023, with commercial anode production expected in 2024.

Latest Developments
The European Investment Bank (EIB) has approved a €150-million senior debt facility that will underpin the Vittangi anode project. The EIB approvals follow extensive project due diligence, including market, technical, environmental and social due diligence.

Talga is targeting project debt gearing of up to 60%. The EIB’s financing, subject to final negotiations, will form part of the debt financing package being finalised with multiple leading export credit agencies, commercial banks and international financial institutions.

Following this approval, loan documentation is being agreed to between the EIB and Talga, including customary terms and conditions for a financing facility of this nature.

Key Contracts, Suppliers and Consultants
Worley (lead consultant – DFS); and ABB (delivery of production and process control solutions).

Contact Details for Project Information
Talga Group, tel +61 8 9481 6667 or email info@talgagroup.com.

Edited by Creamer Media Reporter

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