Renascor Resources Limited (ASX: RNU) (Renascor) is pleased to announce that the Early Contractor Involvement (ECI) phase for its upstream graphite operation is underway with market leading Engineering, Procurement and Construction (EPC) contractors, GR Engineering Services Limited (GR Engineering) and Primero Group Limited (Primero)
Renascor has commenced a competitive Early Contractor Involvement (ECI) process with leading engineering, procurement and construction (EPC) firms GR Engineering Services Limited and Primero Group Limited for its proposed Siviour Mine and Concentrator, the upstream portion of Renascor's planned vertically integrated Battery Anode Material graphite mine and manufacturing operation in South Australia (BAM Project).
The ECI phase is focussing on the progression of engineering and maturation of design of the minerals processing plant and non-processing infrastructure (Project Works) and will include process design improvements adopted following the completion of the Battery Anode Material Study in August 20231.
The ECI process provides a collaborative framework for the ECI contractors to bid for the execution of the Project Works under a competitive environment, culminating in an executable EPC contract, comprising a fully priced offer, agreed commercial terms, finalised Project Works scope, technical specifications and performance parameters.
The commencement of the ECI process is part of Renascor's strategy to accelerate the upstream development and minimise its construction period to reduce the time to first production of graphite to coincide with projected near-term supply shortfalls.
The Australian Government, through Export Finance Australia (EFA), has conditionally approved a A$185 million loan facility (Loan Facility)2 from the Australian Government's $4 billion Critical Minerals Facility to support Renascor's BAM Project, with EFA recently confirming that the Loan Facility has been approved to be utilised to fast track the development and operation of the upstream operation3.
In parallel with the ECI works on the upstream, Renascor is in discussions with lithium-ion battery market participants regarding both potential binding offtake terms, as well as potential equity investments to help meet the BAM Project's initial capital requirements.
Commenting on the agreement, Renascor's Managing Director, David Christensen stated: '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% Australianmade graphite.'
The ECI phase is focussing on the progression of engineering and maturation of design of the minerals processing plant and non-processing infrastructure (Project Works) for the upstream portion of Renascor's planned vertically integrated Battery Anode Material graphite mine and manufacturing operation in South Australia (BAM Project). The Project Works will build upon work undertaken as part of Renascor's definitive feasibilitylevel Battery Anode Material Study (BAM Study) completed in August 20234 and will include process design improvements identified following the completion of the BAM Study. These improvements include adjustments to the flowsheet parameters of the mineral processing plant to increase the production of size fractions greater than 150 microns (+100 mesh) by approximately 60% from a projected 17% to 27% of total production5. The ECI structure provides a collaborative framework for the ECI contractors to bid for the execution of the Project Works under a competitive environment, culminating in an executable EPC contract, comprising a fully priced offer, agreed commercial terms, finalised Project Works scope, technical specifications and performance parameters. The priority on the advancement of design during the ECI phase by the ECI contracting partners is intended to refine cost estimates by achieving greater definition and certainty in plant design, labour hours, bulk materials and major procurement items, whilst minimising change during execution. The engineering design activities undertaken during this ECI phase are aligned with those activities performed under a front-end engineering design phase, with the ECI process also including an executable EPC contract. The ECI process is expected to be completed in late Q4 2024 and follows an extensive tendering and evaluation phase. This ASX announcement has been approved by Renascor's Board of Directors and authorised for release by Renascor's Managing Director David Christensen
Contact:
David Christensen
James Moses
Managing Director
Tel: +61 8 8363 6989
Email: info@renascor.com.au
RENASCOR RESOURCES LIMITED 
