International Graphite Ltd (ASX:IG6) is preparing to begin construction at the Collie Micronising Facility in Western Australia after entering into a funding agreement with the WA Department of Jobs, Tourism, Science and Innovation (JTSI) for $4.5 million.
The agreement, made on behalf of the State Government of Western Australia, will be drawn down over the project construction period as milestones are achieved.
IG6 expects to use about $2 million of the grant for the first stage of construction, building a 3,000-tonne-per-year micronising facility at a total estimated capital cost of about $4 million – Stage 1 is already fully funded to mechanical completion.
The remaining $2.5 million will be applied to the second stage of facility expansion, which is set to double production capacity to about 10,000 tonnes per year.
Mine-to-market strategy
“We are excited to be pushing ahead with the construction of the new plant at Collie,” International Graphite managing director and CEO Andrew Worland …