Idemitsu Australia has reaffirmed its commitment to Graphinex by participating in its recent capital raise, continuing its support for the development of high-performance battery materials.
Idemitsu Australia branch chief executive officer (CEO) Steve Kovac said the company is pleased to continue its partnership with Graphinex.
“The company is committed to advancing technologies that will play a critical role in enabling electrification, energy storage and the transition to a carbon-neutral future,” Kovac said.
The Australian branch, which is a subsidiary of the Japanese parent company, has been operating in Australia since 1978, with operations including the Boggabri Coal Mine and Muswellbrook Coal Company (which ceased mining in 2022), producing around seven million tonnes per year of thermal, semi-soft and PCI coals for export.
The company has a dedicated “progressive rehabilitation” and “life of mine” approach it says is core to its endeavours, something it said Graphinex plays a part of with not just equipment performance, but also the reduction of emissions.
Graphinex managing director Art Malone said Idemitsu’s support and insights into downstream opportunities in Japan “add significant value to our plans and strengthen investor confidence in the long-term potential of our graphite project”.
“This support positions Graphinex for long-term success in the rapidly growing battery industry,” he said.
According to Graphinex’s website, its lithium-ion batteries depend on graphite as the fundamental material; and due to its lower cost of production and more favourable ESG credentials, the demand for graphite anode and its growth is something the company expects to outpace synthetic anodes.
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