International Graphite Limited (ASX: IG6) Secures $4M Grant
Grant Details
International Graphite Limited has secured a $4.0 million grant from the Western Australian Government through the Investment Attraction Fund. This funding supports the company’s strategy to commercialise and integrate battery graphite supply from the Springdale mine to market.
Operational Activities
Key activities funded by the grant include the bulk extraction of ore from the Springdale deposit for process design and customer offtake assessments. Additionally, the funds will be utilised for the installation of Australia’s first graphite spheroidiser at the Collie Graphite Processing and R&D Facility, enhancing product qualification capabilities.
Government Support
This grant adds to a total of $17.2 million in support from Australian state and federal governments, of which $12.2 million is yet to be drawn. The funding, announced by WA Premier Roger Cook, underscores the government’s commitment to establishing a reliable supply of battery graphite.
Executive Comments
Managing Director and CEO Andrew Worland expressed gratitude for the ongoing support from the WA Government, highlighting the significance of the grant in achieving a sovereign supply of battery graphite. He stated, “This grant acknowledges the critical importance of building a reliable, sovereign supply of battery graphite materials as quickly as possible and the opportunities this opens for WA to attract trade and investment from international markets.”
Motley Fool contributor Aaron Shaw has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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