(Adds details, context on Australian government grants in paragraphs 3-5, shares in last paragraph)
April 17 (Reuters) - Alumina producer Alpha HPA (A4N) and graphite producer Renascor Resources (RNU) will receive aggregate A$585 million ($375.63 million) in loans from the Australian government under its critical minerals strategy.
Under the government's A$4 billion Critical Minerals Facility, Alpha HPA will receive A$400 million to develop a construction facility, while Renascor will get A$185 million for its anode material manufacturing operations, the companies said in separate filings on Wednesday.
The loans would be drawn from Export Finance Australia and Northern Australia Infrastructure Facility.
The funding would enable Alpha HPA to establish a full-scale commercial aluminium purification facility, while Renascor would utilise funds for the construction of an upstream portion at its BAM Project which includes the Siviour graphite project in South Australia.
The Australian government is offering low-interest loans and related grant programmes to speed up the development of critical minerals project, with the aim of becoming a key global supplier of battery chemicals and metals.
Shares of Alumina supplier Alpha HPA rose as much as 15.2% to hit their highest level since September, while graphite explorer Renascor Resources surged as much as 32.5%, their highest level since October.
($1 = 1.5569 Australian dollars)
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