International Graphite Awarded $4.7 Million Australian Federal Government Grant
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International Graphite Limited has been awarded a $4.7 million grant from the Australian Government through the national Critical Minerals Development Program administered by the Federal Department of Industry, Science, and Resources.
The funds, which are expected to be available from June 1, 2023, will help fast-track the integrated mine-to-market graphite supply chain the company is developing in Western Australia.
Grant funding will be used to advance feasibility studies for the company’s proposed graphite mine at Springdale, and advanced battery anode material manufacturing plant at Collie, as well as construction of a planned graphite micronizing facility, also at Collie. The company will contribute to the balance of the funding requirements for those activities over time.
“Australia has set its sights on becoming a critical minerals powerhouse and we are thrilled that the Federal Government has recognized our potential to contribute to that vision. This grant is an important vote of confidence in our business and confirmation that projects like Springdale and Collie are vital in meeting global decarbonization targets,” said International Graphite Managing Director and CEO Andrew Worland.
“The world needs new graphite supply. Battery and electric vehicle manufacturers worldwide are searching for new graphite supplies, with high ESG values, to meet the unprecedented demand for batteries,” added Worland.
HIGHLIGHTS
• The grant will be applied toward feasibility studies for the company’s Western Australian graphite
mine-to-market development strategy — integrating the Springdale Graphite Project and the proposed
Collie Graphite Battery Anode Materials Facility.
• Grants recognize early and mid-stage critical minerals projects that further Australia’s transition to net zero
emissions and support economic development and jobs in regional communities
• The grant agreement is expected to be finalized by May 31, 2023 with funds available from June 1, 2023
“By moving from mining to downstream production, we ensure the full value of our natural resources stays here in Australia whilst generating local jobs, supporting regional communities and developing new forward facing industries and minerals processing technologies,” said Worland.
International Graphite is an emerging supplier of processed graphite products, including battery anode material, for the global electric vehicle and renewable energy markets. The company is developing a sovereign Australian mine to market capability, with integrated operations wholly located in Western Australia. The company intends to build on Australia’s reputation for technical excellence and outstanding ESG performance with future mining and graphite concentrate production from its 100 percent owned Springdale Graphite Project and commercial scale downstream processing at Collie.
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