PERTH (miningweekly.com) – ASX-listed International Graphite has signed a funding agreement of A$4.7-million with the Commonwealth government.
The company in May this year was flagged as one of the recipients of a combined A$50-million in funding in the second round of grants under the Critical Minerals Development Programme.
The funding will go towards the company’s Western Australian mine-to-market battery graphite battery supply chain project, and will be used to advance feasibility studies for the company’s proposed graphite mine at Springdale and advanced battery anode material manufacturing plant at Collie, as well as construction of a planned graphite micronising facility, also at Collie.
“There is an urgent need to expand global graphite supply and the pressure is on for new sources to reach market as quickly as possible. With our planned mine and concentrator at the Springdale graphite project near Hopetoun and downstream battery anode processing facilities in Collie, we offer a unique Western Australian-focussed opportunity to be a pre-eminent global supplier of choice to the lithium-ion battery markets,” said International Graphite MD and CEO Andrew Worland.
“We are very pleased that government recognises graphite as key to achieving decarbonisation commitments and that our business has the potential to strengthen Australia’s position as a leader in critical minerals.”
Funding will be made available to the company over a 22-month period with the first tranche of A$1.7-million expected before the end of June 2023.