Renascor Resources Limited has announced a 40-year option-to-lease agreement with South Australian Government-owned SA Water for its proposed Battery Anode Material Manufacturing facility.
In a statement, Renascor said the proposed facility aims to produce purified spherical graphite (PSG), a crucial component in the production of lithium-ion batteries.
The site is owned by SA Water and is situated in Bolivar, South Australia, north of Adelaide, about 20 km from Port Adelaide’s main shipping port.
Renascor Managing Director David Christensen expressed the company’s delight to have executed the option-to-lease agreement with SA Water for the proposed Battery Anode Material Manufacturing facility.
“It provides certainty over a key component of our plans to become a leading producer of Purified Spherical Graphite for the growing lithium-ion battery sector. In securing the strategically positioned and scalable Bolivar site, Renascor will be able to leverage off the high quality of the Siviour Resource by vertically integrating the mine and concentrator with a state-of-the-art Battery Anode Material Manufacturing facility to supply responsibly produced, 100% Australian-made Purified Spherical Graphite for the lithium-ion battery industry,” Christensen said.
According to Renascor, the company is constructing a South-Australian-based, vertically integrated Battery Anode Material Manufacturing facility that will integrate the Siviour Graphite Deposit, Siviour Graphite Mine and Concentrator, and a Batter Anode Material Production Facility.
Under the agreement, Renascor will have an initial lease option of 40 years over the 20-hectare site. The lease option may be exercised at any time before 30 June 2025.
Renascor is currently working on an updated, optimised Battery Anode Material Study based on using the Bolivar site for the Battery Anode Material production facility. This research builds on previous comprehensive feasibility work for the planned vertically integrated mine and PSG facility.
“We look forward to working with SA Water and the South Australian Government as we bring a major new industry to the State,” Christensen said.
