International Graphite on target with Springdale project
International Graphite (ASX: IG6) is continuing to take giant strides with its proposed development of its world-class Springdale graphite project in Western Australia.
Managing director and chief executive officer Andrew Worland has told shareholders that Springdale is on target to be Western Australia’s first vertically integrated producer of graphite anode materials (BAM) for lithium-ion batteries.
“Recognition of the Springdale graphite project as a deposit of international significance was the highlight of the September 2023 quarter,” Mr Worland stated in releasing the company’s latest quarterly report.
High-quality MRE
This was reinforced by International Graphite’s mid-September reveal of a mineral resource estimate (MRE) for Springdale of 49.3 million tonnes of 6.5% total graphitic carbon (TGC), which placed the project in the top 15 JORC reporting resources globally.
Notably, International Graphite says there is significant upside in the project area with a substantial amount of exploration potential still to be tested.
“The graphite mineralisation at Springdale is fine flake meaning 100% of the concentrate produced there will cater for the high growth lithium-ion battery market – this is a unique advantage that makes Springdale a standout graphite development,” Mr Worland said.
Scoping study advancing
A critical scoping study is now underway, which International Graphite’s technical team is looking to wrap up by the end of the year.
This follows the release of a scoping study in April for proposed Collie Graphite BAM Facilities that will process Springdale concentrates.
The 100%-owned Springdale graphite project is located near the south coast town of Hopetoun, while International Graphite has established a pilot scale graphite micronising and spheroidising plant and R&D facility, at Collie, 200km south of Perth.
Growing market interest
The graphite market has attracted significant interest in recent years thanks to its importance in the make-up of lithium-ion batteries and the booming electric vehicle market.
In his statement to the company’s shareholders, Mr Worland noted that China’s recent decision to impose significant graphite concentrate export constraints has led to Springdale and the Collie project attracting increasing worldwide attention.
“We are actively pursuing discussions with interests in Korea, Japan, the US and Europe, who are seeking supply to meet the raw material demands of the global gigafactory build out,” he said.
“The location of our assets, all in the Tier 1 resource jurisdiction of Western Australia, means we are ideally placed to provide graphite customers with unparalleled certainty, quality and reliability of supply.”
“The next 12 months are set to be exciting and rewarding.”