Renascor Resources Limited
1
1
Why is Siviour Becoming the Largest Graphite Ore Reserve Outside of Africa?
Renascor Resources has announced an updated JORC Ore Reserve estimate for its Siviour Graphite Project in South Australia. This new estimate confirms Siviour as the largest reported total Ore Reserve of graphite outside of Africa and the second largest Proven Reserve of graphite in the world.
Highlights:
Siviour has a Proven Reserve of 16. 8Mt at 8. 2% total graphitic carbon (TGC) for 1. 4Mt of contained graphite.
Siviour also has Probable Reserves of 45.
Story Continues.. after this ad because we need some dollarydoos
0Mt at 6. 6% TGC for 3. 0Mt of contained graphite.
In total, the Ore Reserve estimate for Siviour stands at 61. 8Mt at 7. 0% TGC for 4. 3Mt of contained graphite.
These updated figures represent a 13% increase in total Reserves and an 8% increase in Proven Reserves, providing greater confidence in the size and quality of the Siviour deposit.
The Siviour deposit is expected to be a consistent source of high-quality graphite for over 40 years.
Renascor Resources based their updated Ore Reserve estimate on their recently completed Battery Anode Material Study (BAM Study). This study estimates that the Siviour ore body can deliver a globally competitive gross operating cost for Purified Spherical Graphite. Over the first 10 years, the estimated operating cost is US$1,782 per tonne, and over the life of the mine, it is estimated to be US$1,846 per tonne.
Managing Director David Christensen expressed his satisfaction with the results, stating that they confirm Siviour's significance in the graphite industry. The project has already attracted conditional funding support from the Australian Government and non-binding commitments from leading anode manufacturers. The upgraded Ore Reserve estimate, especially the significant Proven Reserve, provides added confidence in Siviour. Renascor Resources looks forward to utilizing these results to secure binding offtake agreements, funding, and to advance the construction and operation of this important new supply line for the lithium-ion battery industry.
Overall, the updated Ore Reserve estimate for Siviour solidifies its position as one of the world's most significant graphite deposits outside of Africa, with the potential to meet the growing demand for graphite in various industries.
Promote your business on our growing investor platform: Advertise With Us
Trending