Renascor gets govt funding
PERTH (miningweekly.com) – Mining junior Renascore Resources has been awarded A$25 000 from the South Australian government for its Siviour graphite project, in the Eyre Peninsula.
The funds, which were granted under the state government’s Future Jobs Fund, will be used to develop a business case to support construction of a graphite concentrate and downstream processing facility at the Siviour deposit, said Renascor on Monday.
“We are extremely appreciative of the South Australian state government’s continued support for the Siviour graphite project. Renascor firmly believes that the graphite supply chain is in strong need of secure, low-cost graphite supply from a low sovereign risk jurisdiction like South Australia,” said Renascor MD David Christensen.
A recent scoping study at Siviour estimated that the project could produce some 123 000 t/y of graphite concentrate over a 20-year mine life for a capital investment of some A$144-million. The 1.65-million-tonne-a-year operation expected to have an after-tax net present value of A$551-million and an internal rate of return of 59%.
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