Renascor Resources has been granted Major Project Status for its $209 million Siviour graphite project in South Australia, advancing its efforts to become a leading supplier.
Once operational, Siviour will produce 100 per cent Australian-made and low-cost purified spherical graphite for lithium-ion battery anode manufacturers worldwide.
The project includes a graphite mine and concentrator located in the Eyre Peninsula, and a downstream purified spherical graphite (PSG) manufacturing facility located in Port Adelaide.
The project is now 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.
Renascor managing director David Christensen said the announcement recognises the importance of the Siviour project to the Australian graphite industry.
“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,” he said.
“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.”
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.
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 its 40-year life span.
“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 $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.
Pitt saw the project as an important playing piece in the world’s $400 billion 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,” he said.
“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.”