Sunrise Energy Metals Limited (ASX:SRL) has been awarded Commonwealth Government Major Project Status for its Sunrise Battery Materials Complex in New South Wales.
CEO, Sam Riggall, said the award of Major Project Status formally recognises the significance of the Sunrise Project to the Australian economy and regional communities in New South Wales.
He said the Sunrise Project is Australia’s largest and most advanced battery materials project with contained nickel and cobalt to support a 50-year operating life.
Mr Riggall said the project is sustainably designed to operate on 100% renewable power with industry-leading carbon footprint, water re-use and responsible waste management.
Other highlights include:
- Exceptional project economics with Life of Mine (LOM) revenue of US$16.3 billion, LOM EBITDA of US$10.8 billion, average free cash flow (post-tax) of US$308 million pa and NPV8 of US$1.2 billion
- Construction ready with A$250M invested in pre-development capex with all key permits and land secured
- Creation of over 1,800 direct jobs during construction with an estimated 400 ongoing full-time jobs created
We are grateful to the Australian Government and its agencies for the award of Major Project Status to the Sunrise Project,” Mr Riggall said.
‘It confirms the government’s on-going commitment to Australia’s critical minerals sector, most recently recognised in the establishment of the A$2 billion Critical Minerals Facility.
“As national and state policies evolve to support Australia’s critical minerals sector, large, long-life and low-cost assets like Sunrise will be key to building reliable and sustainable regional supply chains.”
The award of Major Project Status was announced in by the Australian Minister for Industry, Energy and Emissions Reduction, the Honourable Angus Taylor MP in a joint media release with Minister for Resources and Water the Hon Keith Pitt MP and Member for Parkes the Hon Mark Coulton MP.
