Siviour confirmed a second largest proven reserve of graphite in the world

An update to the mineral ore reserve estimate confirms Renascor Resources’ (ASX:RNU) Siviour graphite project as the second largest reported proven reserve of graphite in the world.

Further, it confirms Siviour as the largest reported total ore reserve of graphite outside of Africa.

This update includes a 13% increase in total reserves and an 8% increase in proven reserves and provides additional confidence in the size and quality of Siviour as a consistent source of high-quality graphite.

The updated ore reserve includes proven reserves of 16.8Mt at 8.2% total graphitic carbon (TGC) for 1.4Mt of contained graphite, probable reserves of 45Mt at 6.6% TGC for 3Mt of contained graphite and total reserves of 61.8Mt at 7% TGC for 4.3Mt of contained graphite.

The ore reserve was prepared by independent mining consultancy Optima Consulting and Contracting.

Managing director David Christensen commented on the update.

“These results confirm Siviour’s status as amongst the most significant graphite deposits in the world, as underscored by our recently completed battery anode material study that delivered a globally competitive estimated operating cost for producing purified spherical graphite from Siviour,” he said.

“The upgraded ore reserve announced today, and, in particular, the significant proven reserve, adds further confidence to Siviour.

“We look forward to using these results to assist in securing binding offtake and funding and advancing into construction and operation of an important new supply line for the lithium-ion battery industry.”