Australian and Canadian-listed companies have gained funding from multiple different outlets today (24 October), including Perenti (ASX:PRN), which has refinanced an existing syndicated debt facility with a new $650 million facility.
The new facility, which has improved pricing and terms, replaces the previous $445 million facility. The refinancing was oversubscribed, expanding Perenti’s banking group by new domestic and international banks, as well as maintaining established relationships.
Perenti, which has a market capitalisation of $2.6 billion, says the new facility complements its senior unsecured notes of US$350 million ($537 million) which is due to mature in April 2029.
CFO Michael Ellis says throughout the refinancing process, the company observed increased engagement and demand from banks.
“This reflects the growing confidence in Perenti’s financial resilience and predictability, driven by our history of robust free cashflow generation, consistent growth, and successful earnings diversification,” Ellis says.
European battery recycling consortium
Battery recycling company Iondrive (ASX:ION) has committed €265,000, as part of a €3.14 million ($5.59 million) in funding to build Europe’s circular battery supply chain, with a consortium led by PEM RWTH Aachen University.
The grant funds 60% of the costs incurred by Iondrive in operating its pilot plant in Germany, up to a maximum of €398,000. The pilot plant is being constructed at a University of Adelaide site, with 50% of eligible construction and other ancillary costs to be reimbursed up to a maximum of $3.9 million.
Commissioning of the pilot plant is expected to be completed in Q1 2026.
Other funding to the wider consortium supports the supply of feedstock to Iondrive at no cost, together with validation and other services to expedite the establishment of a recycled battery supply chain in Germany.
The consortium is backed by an award of €2.06 million grant from the Government of North Rhine-Westphalia together with €1.06 million committed by consortium participants.
Participants include Accurec Recycling, Iondrive, NEUMAN & ESSER Process Technology, Constantia Patz of Constantia Flexibles International, and PEM RWTH Aachen University.
Iondrive’s role in the consortium focuses on producing recycled metals from recycled batteries and further processing those metals to pCAM material for downstream manufacturing of battery cells.
Building lithium refining
Libertystream Infrastructure Partners (TSX-V:LIB) has been awarded a US$500,000 grant from the State of North Dakota to support the development of in-state lithium carbonate production for future battery cell manufacturing.
The grant is intended to advance regional lithium production capabilities and accelerate commercialisation of high-purity lithium for energy storage applications. Final confirmation of the grant is scheduled for 27 October 2025.
In conjunction, Libertystream is continuing to progress the installation of its lithium carbonate refining unit in Texas.
Once operational, the refining unit will be capable of producing up to 10 tonnes per year of lithium carbonate, engineered to meet the technical specifications of future customers across industrial-grade and battery-grade applications.
To support qualification and offtake discussions, bulk samples sourced from the Texas field site will be made available to prospective customers.
Bull River revenue generation
Canadian Critical Minerals (TSX-V:CCMI) has received a provisional payment of US$167,000, which will be used to offset costs associated with ongoing care and maintenance at the Bull River Mine in British Columbia.
The funds will also be used for costs associated with engineering studies required for and in support of completion of the final permit application to restart the mill and underground operations.
Once the company receives permission to restart the mine and mill, rejects from the sorting process will be stockpiled and provide an initial feed to the mill.
Canadian Critical Minerals has stockpiled fine mineralised material that was too small to be effectively processed through the sorter.
Write to Aaliyah Rogan at Mining.com.au
Images: Perenti, Iondrive, & Libertystream
