The company is developing a graphite mining and concentrate production operation at Springdale, on Western Australia's south coast along with the BAM facility in Collie.
The Springdale mine will provide graphite concentrates to the downstream facility in Collie, where it will be turned into BAM.
While an initial scoping study was done in April 2023 this latest scoping study was based on using concentrates produced at Springdale instead of imported graphite feedstock.
The study shows Springdale's concentrator will have a 500,000 tonnes per annum throughput for average concentrate production of 45,000tpa.
The capital cost to develop Springdale is $76 million, with all-in sustaining cash operating costs of $736/t of concentrate.
At the Collie site uncoated spherical purified graphite production is expected to reach 20,000tpa with coated spherical purified graphite production of 18,600tpa.
A USPG plant at Collie will cost $124 million to build while a CSPG plant will cost an extra $217 million.
AISC for the USPG plant will be $2433/t, while AISC for the CSPG plant will be $4096/t.
Project net present value will be $375 million at an internal rate of return of 35.8% for just a USPG project, with figures rising to NPV of $603 million at an IRR of 30.5% for a CSPG project.
International Graphite managing director and chief executive officer Andrew Worland said the company was confident Springdale would be a project of global significance for Australia in the critical battery minerals supply chain.
"We now have a clear economic and financial view of the breadth of the Springdale-Collie mine to market strategy," he said.
"Springdale compares exceptionally well with its industry peers across a range of measures, particularly the forecast mine capital and operating costs."
Worland said a mineral resource estimate released last year provided a compelling argument for expanding future operations.
"Less than 15% of the Springdale MRE has been scheduled and modelled so far and the production plan has yet to be optimised at this early stage of investigation," he said.
"Our immediate focus is to move rapidly through the definitive feasibility phase for Springdale and to accelerate further infill resource and exploration drilling at Mason Bay, one of the newest graphite finds at Springdale, so we can continue expanding and upgrading the MRE."
Worland said the company had received strong support from state and federal governments and the local communities of Hopetoun, Ravensthorpe and Collie.
"Graphite for batteries is fast becoming the centre of geopolitical tensions and highly sought after, particularly after the Chinese government's recent decision to restrict the export of its graphite products," he said.
"This leaves the global battery supply chain highly exposed."
