International Graphite (ASX:IG6) has secured another mining lease from the Western Australian Department of Energy, Mines, Industry Regulation and Safety, for the Springdale Project in Western Australia.
On 7 November 2024, the $11.41 million market capitalised company secured an initial mining lease which covers the Mason Bay deposit within Springdale.
Together, both mining leases cover nearly the entire existing mineral resources at the Springdale Project, which totals 49.3 million tonnes at 6.5% total graphitic content for 3.2Mt of contained graphite.
International Graphite says granting of the mining leases is an “important” part of the permitting process for Springdale.
To date, the company has completed flora and fauna assessments and mapping work, with surveys confirming the project area is cleared for agriculture and proposed mining activities would have little impact on natural vegetation or wildlife.
A light detection and ranging drone survey was completed in the third quarter of this year and will be used to support hydrology assessment, including drill planning for early next year.
The Springdale Project is among the “largest” graphite deposits globally and is expected to supply graphite concentrate to feed International Graphite’s downstream processing operations at Collie.
Feasibility studies and mine planning are underway and the company anticipates mine construction to begin once all necessary approvals are in place.
International Graphite is an emerging supply of processed graphite products, including active anode materials for lithium-ion batteries in EVs, defence applications and global energy transformation.
Last notes of mine only talked about a final investment decision on mining and processing graphite to be made in the first half of 2025. The grant of these permits and the noise coming out of HQ suggests to me that we might get a decision in the first quarter of 2025.
