International Graphite has secured a mining lease from the WA Department of Energy, Mines, Industry Regulation and Safety for its Springdale graphite project.
The lease, identified as M74/0252, encompasses the graphite deposits at the company's wholly owned Springdale project site near Ravensthorpe and Hopetoun on WA's south coast.
Feasibility studies and mine planning are currently in progress, with construction expected to commence in 2024 following the receipt of necessary approvals.
The newly secured lease, alongside lease M74/0253, covers nearly the entirety of the identified mineral resources at the Springdale site.
International Graphite’s Springdale project is recognised as Australia's second-largest graphite deposit and ranks among the world's top 15, boasting an estimated 49.3 million tonnes at 6.5% total graphitic content.
Springdale holds significant potential for expansion, with only 10% of the tenement areas and 20% of exploration targets having been explored thus far.
The deposit's high-grade, fine flake composition, coupled with its metallurgical properties suited for battery anode material, makes it ideal for a shallow, long-life open-pit mining operation.
The project is poised to provide graphite concentrate for International Graphite's downstream processing operations in Collie, establishing a vertically integrated operation from mine to market.
In April this year, the WA Government earmarked A$4.5m ($2.8m) to support International Graphite in establishing a graphite processing plant in Collie.
Graphite is a vital material in the production of anode components for lithium-ion batteries, which are essential for powering electric vehicles and large-scale energy storage systems.
International Graphite is supported by government and community support including a A$8.5m investment from the WA Government and A$4.7m from Australia’s national Critical Minerals Development Programme.
The company aims to produce a fully purified and coated battery anode material using its own mined resources.
