International Graphite (ASX:IG6) has received an AU$4.0 million grant from the Western Australian Government's Investment Attraction Fund to support commercialization and integration activities at its Springdale graphite project and Collie downstream processing plant, according to a Wednesday filing with the Australian bourse.
The funding will aid bulk ore extraction from the Springdale deposit, process development, and the installation of spheroidizing equipment at Collie, which is also the center of the company's research and development program for battery anode material, the filing said.
A two-year financial assistance agreement has been signed, with funds to be drawn as the company meets project milestones, the filing added.
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