International Graphite’s proposed graphite mine and advanced battery anode material manufacturing plants in Western Australia have attracted a critical $4.7 million grant from the Australian Government.
The funding to support the company’s proposed graphite mine at Springdale, battery anode material manufacturing plant and pilot micronising facility in Collie, is amongst approximately $50m in grants announced by the Federal Government today.
The funding covered by the national Critical Minerals Development Program is aimed at supporting Australia’s critical minerals advantage by accelerating the development of projects across the nation.
Fast-track
International Graphite managing director and chief executive officer, Andrew Worland, said the new capital will allow the company to fast-track its Western Australian ‘mine-to-market’ graphite supply chain.
The company will direct the new cash towards feasibility studies for the proposed graphite developments.
“Australia has set its sights on becoming a critical minerals powerhouse and we are thrilled that the Federal Government has recognised our potential to contribute to that vision,” Mr Worland said.
“This grant is an important vote of confidence in our business and confirmation that projects like Springdale and Collie are vital in meeting global decarbonisation targets.”
International Graphite has confirmed it has identified a site in Collie for its plant developments. It is negotiation for the lease of over approximately 20 hectares of privately owned land in the Coolangatta industrial precinct to the north-east of the Collie town centre.
Graphite market
Graphite is considered a critical mineral by a number of governments because of its potential to support the clean energy future and the EV industry.
Recent estimates have tipped that the global graphite market will grow to US$37.68 billion by 2028.
Energy research and consultancy Wood Mackenzie has forecast battery sector demand for raw material graphite will rise by more than 1,400% between 2020 and 2050.
Critical government backing
Thirteen projects were named to receive funding under the Critical Minerals Development Program grants.
Along with International Graphite, the projects involve key inputs to lithium-ion batteries for electric vehicles and to support Australian supply chains.
Federal Minister for Resources and Northern Australia, Madeleine King, said the new grants will help speed up development of Australia’s critical minerals sector.
“The successful projects will create jobs and opportunities across regional Australia and help Australia realise its ambitions to be a clean-energy superpower,” Minister King said.
The minister revealed that the Federal Government is preparing to release a new critical minerals strategy shortly which will define Australia’s significant opportunity to growing its critical minerals processing sector.
“Australia has remarkable potential to meet the increasing global demand for the critical minerals needed for clean energy technologies, such as electric vehicles and batteries, as the world moves to decarbonise.”
Other successful projects to receive new funding include Australian Energy Storage Solutions Pty Ltd’s plans for a pilot plant for Australia’s first precursor cathode active material development in Kwinana. It received a $5.5 million grant.
IGO Limited’s development of an integrated downstream nickel-cobalt refinery at Kwinana to produce a high value nickel-cobalt-manganese precursor cathode active material, received $4.6 million.
