Lincoln Minerals Targets SMR Market with Kookaburra Graphite Collaboration with SCN Canada
ASX-listed Lincoln Minerals has entered into a collaboration agreement with Canada-based SCN Canada to jointly evaluate the use of graphite from its Kookaburra graphite project in South Australia for small modular nuclear reactor (SMR) applications.
The company said the agreement aligns with its strategy to identify high-value end uses for graphite from the Kookaburra project, which hosts a 12.8-million-tonne mineral resource grading 7.56% total graphitic carbon. Lincoln added that it remains primarily focused on advancing its Minbrie copper project.
SCN, operating as StarCore Nuclear, is developing SMRs based on high-temperature gas-cooled reactor (HTGR) technology.
The company aims to deliver small-scale, safe, and carbon-free power solutions for remote communities in Canada and international markets.
High-purity graphite blocks are a critical component in HTGR systems, acting as neutron moderators that enhance reactor stability and long-term operational safety.
Under the agreement, Lincoln and SCN will work collaboratively to identify potential areas of cooperation, including the supply of graphite for SMR applications.
The parties will also assess the technical suitability of Kookaburra material through additional metallurgical and product qualification testwork.
Lincoln chief executive officer Chris Wilcox said global investment in nuclear energy is accelerating as countries seek to meet rising energy demand while reducing carbon emissions.
“SMRs provide a reliable, always-on source of clean energy that complements intermittent renewables such as solar and wind, helping to stabilise energy supply and pricing,” Wilcox said.
He added that the collaboration offers a pathway to unlock value from Lincoln’s graphite assets without diverting focus from its copper development strategy.
“There is significant latent value in Lincoln’s 100% owned Kookaburra graphite project. Partnering with SCN allows us to build on the detailed technical studies already completed and explore a pathway toward commercialisation,” Wilcox said.
The agreement establishes a 12-month framework for collaboration, during which the parties will seek alignment on key development parameters, including flowsheet design, product mix, and potential commercial structures.
Any binding arrangements would be subject to due diligence, metallurgical testwork, feasibility studies, and the execution of definitive agreements.
Lincoln said that, should both parties elect to proceed, scoping and feasibility studies for a joint development concept could be completed by the end of calendar year 2026.
The Kookaburra graphite project is located on South Australia’s Eyre Peninsula, approximately 35 km north of Port Lincoln. The project benefits from near-surface mineralisation, established infrastructure access, and a high-grade core.
A pre-feasibility study completed in 2024 outlined a 16-year mine life, upfront capital expenditure of $29-million, and an after-tax net present value of $114-million. Subsequent testwork has demonstrated purification levels exceeding 99.95% total graphitic carbon, meeting specifications for battery anode material.
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