Renascor Resources (ASX: $RNU) ECI phase underway

Renascor Resources Limited (ASX: $RNU) has initiated the Early Contractor Involvement (ECI) phase with GR Engineering Services Limited and Primero Group Limited for its proposed Siviour Mine and Concentrator, as part of the Battery Anode Material graphite mine and manufacturing operation in South Australia. The ECI process aims to progress engineering and design of the minerals processing plant and non-processing infrastructure, with a focus on accelerating upstream development and reducing time to first production of graphite.

Renascor's Managing Director, David Christensen, on ECI phase

The ability to partner with leading engineering and construction firms GR Engineering and Primero in a collaborative and competitive early engagement process is part of our commitment to accelerate the development of the BAM Project, commencing with our planned upstream graphite mining operation. Both GR Engineering and Primero have proven themselves to be highly effective contractors through ECI processes and have each demonstrated the ability to successfully transition from ECI into EPC delivery of major projects in Australia. We are confident that, with the quality of the BAM Project, combined with the capability, track record and technical expertise of our ECI partners, we are well positioned to become a competitive, long-term source of secure 100% Australian-made graphite.

Renascor Resources (ASX: $RNU) ECI phase summary

Renascor Resources has commenced the competitive Early Contractor Involvement (ECI) process with GR Engineering Services Limited and Primero Group Limited for its proposed Siviour Mine and Concentrator, as part of the Battery Anode Material graphite mine and manufacturing operation in South Australia. The ECI phase aims to progress engineering and design of the minerals processing plant and non-processing infrastructure, with a focus on accelerating upstream development and reducing time to first production of graphite. The company is also in discussions with lithium-ion battery market participants regarding potential binding offtake terms and potential equity investments to meet the BAM Project's initial capital requirements. Renascor's strategy is aligned with the Australian Government's support through Export Finance Australia, which has conditionally approved a A$185 million loan facility to fast track the development and operation of the upstream operation. The ECI process is expected to be completed in late Q4 2024, and the company aims to become a competitive, long-term source of secure 100% Australian-made graphite.