ASX Announcement

Electricity Infrastructure Upgrades Commissioned
for Siviour Project

Renascor enters connection agreement with SA Power Networks to upgrade the existing electrical distribution network for proposed Siviour mine and processing plant

Highlights

• Renascor has entered into a connection agreement with SA Power Networks to upgrade the electrical distribution network for the Siviour mine and processing plant, the upstream portion of Renascor’s proposed Battery Anode Material (BAM) Project, a vertically integrated battery anode material manufacturing operation located wholly within South Australia.
• The connection agreement provides for the upgrade of SA Power Network’s existing substation located approximately 25km from the proposed Siviour mine and processing plant, with the construction of a new 33kV voltage regulator and transformer, as well as upgrades to portions of the existing overhead powerline network.
• The agreement with SA Power Networks follows Renascor’s previously announced procurement of the long-lead capital equipment necessary to undertake the upgrades to permit the connection between SA Power Network’s existing electricity grid connection and Siviour (see Renascor ASX announcement dated 9 May 2023).
• SA Power Networks has indicated that it will commence physical works next quarter and expects to complete the upgrades in approximately twelve months.
• This early commencement of the upgrades to the electrical distribution network is part of Renascor’s previously announced strategy to accelerate the upstream development and to minimise the construction period for the planned mining and processing operation.

Commenting on the agreement with SA Power Networks, Managing Director David Christensen said:

“The growth of the lithium-ion battery and anode markets continues to put pressure on the graphite market to meet increasing demand, with the graphite demand trend supporting the need for large, low-cost graphite mines like Siviour.
Our agreement with SA Power Networks to upgrade the existing electrical distribution network for Siviour permits us to move forward on a key critical path workstream for the project, as we seek to minimise the length of the construction phase for our planned Siviour mine to permit Renascor’s new supply to enter the market in alignment with forecasted near-term shortages of graphite.”