A rendered image of Renascor proposed purified spherical graphite facility in South Australia
The Australian government has allocated A$13-million in grants to critical minerals projects in Queensland and South Australia, aimed at enhancing downstream processing capabilities and bolstering the country’s sovereign capacities.
Queensland Pacific Metals will receive A$8-million to strengthen domestic production of nickel and cobalt through its TECH project. The proposed battery materials refinery, which will process imported, high-grade laterite ore from New Caledonia, aims to produce battery-grade nickel and cobalt sulphate, essential for electric vehicles, with customers including General Motors in the US and LG Energy Solution and Posco in South Korea.
Meanwhile, South Australia-based Renascor Resources has been granted A$5-million for its pilot purified spherical graphite (PSG) project. This project will establish Australia’s first vertically integrated graphite manufacturer, producing PSG for lithium-ion batteries.
Renascor’s PSG demonstration facility will process graphite concentrates from its Siviour graphite deposit, in South Australia. The facility incorporates previously completed design work undertaken as part of a definitive feasibility level battery anode material study completed in August last year.
Renascor intends to start procurement of plant equipment in the current quarter, with commissioning planned for the second quarter of 2025.
The grants, facilitated under the International Partnerships in Critical Minerals programme, will cover up to 49.9% of project capital costs. They are designed to foster diversified supply chains and are supported by partnerships with entities in the US, Japan and Korea.
Federal Resources Minister Madeleine King highlighted that these grants align with the government’s Critical Minerals Strategy and the broader agenda of "A Future Made in Australia”.
King emphasised the creation of high-paying jobs and the added value to Australia’s critical minerals sector.
“We have a rich endowment of the critical minerals required for renewable-energy technologies and our strategy will ensure Australia is well positioned to provide these resources as the world transitions to net zero,” said King.
Renascor has also secured financing through the Critical Minerals Facility administered by Export Finance Australia, further supporting its initiatives in the critical minerals sector.