Deep sea mining puts $560 billion in land extraction at risk — report
Even in optimal scenarios, the activity would generate only $6.25 million in tax revenue for countries involved, says Planet Tracker.
Australia’s International Graphite on Monday announced the commissioning of a new A$12.5 million ($8.14 million) graphite processing plant at Collie, Western Australia, with a capacity to produce 200 metric tons of micronized graphite per year.
The company plans to use graphite concentrate from its Springdale graphite project in Western Australia to feed the plant’s downstream processing operations, it said.
The project is expected to generate over 100 jobs at Springdale and Collie.
Micronized graphite is the first stage in producing battery anode materials for electric vehicles and renewable energy storage. It is also critical for industrial products, such as lubricants, polymers, plastics, ceramics and refractory materials.
The plant has been funded by an A$2 million grant from the Western Australia government’s Collie Futures Industry Development Fund, the company said. Approval for construction of the plant is expected as early as mid-year.
($1 = 1.5363 Australian dollars)
(By Rajasik Mukherjee; Editing by Lisa Shumaker)
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