International Graphite Awarded $4.7M Australian Federal Government Grant

HIGHLIGHTS

• $4.7M awarded by Australia’s federal government under the national Critical Minerals Development Program
• The grant will be applied toward feasibility studies for the Company’s Western Australian graphite ‘mine-to-market’ development strategy – integrating the Springdale Graphite Project and the proposed Collie Graphite Battery Anode Materials Facility.
• Grants recognise early and mid-stage critical minerals projects that further Australia’s transition to net zero emissions and support economic development and jobs in regional communities
• The grant agreement is expected to be finalised by 31 May 2023 with funds available from 1 June 2023

Grant funding will be used to advance feasibility studies for the Company’s proposed graphite mine at Springdale, and advanced battery anode material manufacturing plant at Collie, as well as construction of a planned graphite micronising facility, also at Collie. The Company will contribute to the balance of the funding requirements for those activities over time.

IG6 Managing Director and CEO Andrew Worland said: “Australia has set its sights on becoming a critical minerals powerhouse and we are thrilled that the Federal Government has recognised our potential to contribute to that vision.

“This grant is an important vote of confidence in our business and confirmation that projects like Springdale and Collie are vital in meeting global decarbonisation targets.

“The world needs new graphite supply. Battery and electric vehicle manufacturers worldwide are searching for new graphite supplies, with high ESG values, to meet the unprecedented demand for batteries.

Figure 1: Taking battery anode material from mine to market – International Graphite’s Chief Financial Officer Robert Hodby, left, and Chief Technical Officer David Pass, with an EV on Perth foreshore.

“By moving from mining to downstream production, we ensure the full value of our natural resources stays here in Australia whilst generating local jobs, supporting regional communities and developing new forward facing industries and minerals processing technologies.

“We are proud to be partnering with both our Federal and State Governments to advance our Western Australian integrated graphite mine-to-market strategy.”

This announcement has been authorised for release by the Board of Directors of International Graphite Limited.

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