Metallurgical testing of Renascor Resources’ (ASX: RNU) Siviour graphite has extracted a 99.99% pure spherical graphite which exceeds lithium-ion battery requirements.
The latest spherical graphite purity is more refined than the preliminary tests that Renascor reported in late January.
Earlier tests achieved between 99.97% and 99.98% spherical graphite, with the lithium-ion battery industry requiring a minimum 99.95% purity for use in the anode.
Last week, Renascor published a favourable scoping study into adding downstream spherical graphite processing to Siviour. The study revealed an integrated graphite concentrate and spherical graphite production could potentially provide Renascor with a A$2 billion net after tax profit.
The study allows for producing 123,000tpa of graphite concentrate with half to be processed further into spherical graphite and the rest sold as graphite concentrate.
With its metallurgical testing, Renascor is aiming to refine its processing to produce the purest spherical graphite product possible.
“Spherical graphite produced from Siviour continues to meet or exceed industry standards across all key parameters tested to date,” Renascor managing director David Christensen said.
“Our recently completed spherical graphite scoping study has highlighted the potential value of the spherical graphite market for Siviour, and this test work continues to demonstrate that Siviour graphite concentrates can be processed into a spherical graphite product that meets strict customer quality standards in the expanding lithium-ion battery anode sector,” Mr Christensen added.
Further spherical graphite testing will involve additional purification to optimise the production process flow sheet and then Renascor will test its performance in lithium-ion batteries.
Speaking with Small Caps earlier this month, Mr Christensen noted most spherical graphite is currently sourced from China.
He said the scoping study indicates the potential for Siviour to provide a source of spherical graphite that has been mined and processed within Australia.
The Siviour graphite project covers about 1,370 square kilometres of granted exploration licences in South Australia. The project is near to local towns and ports and has access to power, roads and rail.
According to Renascor, Siviour hosts one of world’s largest known graphite resources of some 80.6 million tonnes grading 7.9% total graphitic carbon for 2.2mt of contained graphite.
After an early morning run, Renascor’s share price settled at A$0.035 by mid-day – up almost 3%.