PERTH (miningweekly.com) – The Australian government has granted ASX-listed Sunrise Energy Metals 'major project' status for its A$2.4-billion Sunrise Battery Materials Complex project, in New South Wales.
The Sunrise project is Australia’s biggest and most advanced battery materials project and contains the world’s biggest and highest-grade scandium resource. The project is fully integrated from mine to battery chemicals with annual forecast production of 21 000 t of nickel and 4 500 t of cobalt, with potential to produce 200 t/y of scandium oxide.
The project is expected to generate life-of-mine revenues of $16.3-billion, and annual post-tax free cash flows of $308-million, and a net present value of $1.2-blilion, over an initial operational life of 25 years.
Minister for Industry, Energy and Emissions Reduction Angus Taylor said the Sunrise project was expected to support over 1 700 full-time jobs over the three-year engineering and construction phase and a further 380 jobs each year over the anticipated 50-year life of the project.
“The government is pleased to support the Sunrise Battery Materials project, which will deliver big rewards for regional New South Wales communities, build our sovereign capability and create new jobs,” Taylor said.
“Australia is lucky to have some of the largest reserves of the critical minerals and metals which drive the modern global economy. As part of the government’s Modern Manufacturing Strategy we are committed to building Australia’s capability in critical minerals processing and increase our contribution to global battery supply chains, which is exactly what this project is about.”
Minister for Resources and Water Keith Pitt said the project directly supported Australia’s Critical Mineral Strategy 2019.
“This project will help Australia continue to take full advantage of our rich reserves of these key resources,” Pitt said.
“Growth in the battery sector has fueled demand for Australian nickel, for example.
“Australia’s nickel exports are expected to grow more than 25% next year, from around 200 000 t in 2020/21 to 256 000 t in 2022/23, on the back of global battery manufacturers looking to secure stable supplies of critical minerals.”
Major Project status helps companies access extra support, coordination and information services from the Major Projects Facilitation Agency which acts as a single-entry point into the Australian government regulatory approvals pathway.