International Graphite has received its second instalment of funding from the Federal Government’s $4.7 million Critical Minerals Development Grant, which the company will use to advance feasibility work at the Springdale Graphite Project.
The $1.25 million instalment will be used to continue the company’s push into the graphite market, by supporting the Springdale project on the south coast of Western Australia and operations at the Collie downstream graphite processing facilities 200km south of Perth.
The Scoping Study for Springdale is nearing completion with the full report to be completed over the Christmas and New Year break and results planned for release in January 2024.
At Collie, installation of the graphite micronising qualification plant and dry commissioning will be completed within a week of receiving the funding.
Processing of imported graphite concentrates will commence in 2024 to produce micronised graphite products of various sizes for customer validation and qualification.
Micronised graphite, of various particle size and purity, has long-established markets, including energy storage (batteries), thermal management, engineered products, lubricants, polymers and plastics.
The production of battery anode material commences with the micronising of graphite concentrates. The second step, spheroidising – or shaping the graphite – produces micronised fines as a by-product for further upgrading or sale.
Establishing a commercial scale graphite micronising business in Collie and breaking into the graphite market is therefore an essential first step which will generate cashflow for the company during the development phases of Springdale, the Collie facilities and beyond.
The company anticipates making a final investment decision for its planned $12.5 million 4,000tpa commercial micronising operation at Collie in the first half of 2024.
A number of non-dilutive forms of capital are being investigated to fund the investment, including opportunities emerging through government agencies as they move to support companies in the critical minerals supply chain.
The vulnerability of the battery supply chain is now highly exposed following China’s decision to restrict its graphite product exports from December 2023.
China supplies more than 80 per cent of the world market which leaves battery gigafactory developers across Europe, North America, Korea and Japan, searching for a consistent and reliable supply of critical raw materials, including graphite.
