Renascor Resources’ Siviour graphite project in South Australia continues to gain ground, with the company securing an option for a key facility.
The option agreement gives Renascor the right to purchase a parcel of farmland located within the Cleve region in South Australia. The land, which has been earmarked for an accommodation facility, is within 31km of the Siviour mine, but also within close reach of local Eyre Peninsula amenities, including a hospital and pharmacy services, grocery store, hotel, and banking infrastructure.
The deal provides Renascor with the right to complete the sale at any time over the three-year option period. The current owners will continue to use it for agriculture, but have agreed to provide Renascor with immediate access for its preliminary investigations.
Renascor managing director David Christensen said the option agreement was developed in line with the company’s low capital commitment, and aims to provide site security while avoiding significant upfront expenditure.
“In addition to offering a practical, strategic solution to our accommodation needs, the option agreement further advances our strategy of completing key long-lead procurement and site activities to reduce project delivery risk,” he said.
“(It will) enable Siviour to be among the first ex-China graphite projects that will offer secure, long-term supply to meet the needs of western battery and defence supply chains.”
The new agreement follows on from Renascor’s successful acquisition of the mine site land, and a further option agreement to lease a site in Bolivar, South Australia, for the full-scale commercial purified spherical graphite facility.
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