Sightful Invest
  • Business
  • Investing
  • Politics
  • Stock
Top Posts
Starmer says UK to recognize Palestinian state if...
‘Critical’ closed-door congressional huddle focuses on growing antisemitism...
Trump’s CDC pick confirmed—but her pro-vaccine stance may...
Trump pick Emil Bove confirmed as federal judge...
From Gaza to Greenland, Macron breaks with Trump...
Schumer calls on FBI to conduct counterintelligence threat...
Biden ‘Politburo’ member Steve Ricchetti to appear before...
Trump looks to skip G20 summit in South...
Backlash against Sydney Sweeney ‘jeans/genes’ ad gets mocked...
Biden ‘Politburo’ member Steve Ricchetti appears before House...
  • Business
  • Investing
  • Politics
  • Stock

Sightful Invest

Investing

$4.5M Government Grant Secures Construction Start for Collie Micronising Facility

by admin November 12, 2024
November 12, 2024
$4.5M Government Grant Secures Construction Start for Collie Micronising Facility

International Graphite Limited (ASX: IG6) has secured funding to construct the first purpose- built commercial graphite micronising plant in Australia.

HIGHLIGHTS

  • $4.5M grant funding agreement signed with the Western Australian Government.
  • $2.0M to be applied towards ~3,000 tpa micronising facility to be built in Collie at an estimated capital cost of ~$4.0M (Stage 1).
  • Stage 1 is expected to be fully funded to mechanical completion.
  • The remaining $2.5M will be applied to expand the facility and at least double capacity (Stage 2).

The Company has entered into a funding agreement with the Department of Jobs, Tourism, Science and Innovation (JTSI) on behalf of the State Government of Western Australia for $4.5 million of the grant announced by the Premier of Western Australia, the Hon Roger Cook, on 22 April 20241 (JTSI Grant).

Managing Director and CEO Andrew Worland said: “We are excited to be pushing ahead with the construction of the new plant at Collie. Establishing a micronising business in Collie has been an important step in our development plans. Critically it will establish the Company as a producer in the graphite industry and build further our technical skills as we progress our Springdale mine to market battery anode material strategy.”

Stage 1 of the JTSI Grant is available to be drawn down progressively over the project construction period as milestones are achieved. The balance of Stage 1 funding is to be met through funding awarded to the Company under the Australian Government Critical Minerals Office grant2, existing cash reserves and additional Company contributions over the construction period, including future R&D rebates.

The balance of the JTSI Grant of $2.5 million will be applied towards expansion of the facility in Stage 2. Ultimately, the Company envisages expanding the Collie Micronising Facility to around 10,000 tpa capacity. It is expected to produce 95% total graphitic content (TGC) and 99% TGC micronised products from graphite concentrates produced at the Company’s 100% owned Springdale Graphite Project, on the south coast of Western Australia, once the mine is in production.

“At those production levels, our Collie facility will be amongst the most significant global producers of micronised graphite outside of China”, Mr. Worland said.

A front-end engineering and design (FEED) study is expected to be completed over the coming months which will confirm the implementation schedule and forecast economics for Stage 1.

The critical path items for the project include local building approvals, construction of new buildings and connection to services, including to the electricity grid, on new development lots adjacent to the Company’s existing facilities in Collie.

Building the project in two stages has been made possible, in part, by the operating experience gained from the Collie Graphite Processing & R&D Facility. Opened in 2022, the exiting facility includes pilot scale micronising and spheroidising equipment and a qualification scale micronising plant.

The facility has been instrumental in optimising equipment selection, vendor assessment, operating conditions and scaling of Stage 1 production capacity to achieve lower unit capital costs than was envisaged in the original 2023 feasibility study.

Click here for the full ASX Release

This post appeared first on investingnews.com

previous post
Auking Wins Bid for Saudi Gold Exploration Licence
next post
Drilling Commenced at Ferke Gold Project, Cote d’Ivoire

You may also like

New High-Grade Gold Discovery at Golden Ridge, NE...

July 20, 2024

Tech 5: Bitcoin Drops Below US$100,000, Micron Guidance...

December 22, 2024

High Grade Rock Chip Assays Confirm New Gold...

November 9, 2024

Grid Battery Metals Update – Drilling Completed on...

October 28, 2024

Altech Batteries Ltd$4M Placement to Advance Battery Projects

November 15, 2024

Troy Minerals Strengthens Leadership Team

November 7, 2024

Gold and Silver Prices Gain as Fed Holds...

August 1, 2024

Appointment of Mr Serge Hayon as Managing Director

September 26, 2024

Gold Price Rises as Powell Signals “Time Has...

August 24, 2024

Heliostar Delivers Strong Shallow Oxide Gold Hits at...

January 30, 2025

Recent Posts

  • Starmer says UK to recognize Palestinian state if Israel doesn’t agree to ceasefire, Hamas must ‘disarm’
  • ‘Critical’ closed-door congressional huddle focuses on growing antisemitism in US, Mamdani’s rise
  • Trump’s CDC pick confirmed—but her pro-vaccine stance may clash with RFK Jr.’s agenda
  • Trump pick Emil Bove confirmed as federal judge after furious Democrat walkout, whistleblower complaints
  • From Gaza to Greenland, Macron breaks with Trump on global flashpoints

    Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (845)
    • Investing (2,651)
    • Politics (3,267)
    • Stock (4)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sightfulinvest.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 Sightful Invest. All Rights Reserved.