Highlights

  • The Western Australian Government and Italian export Credit agency SACE have formalised cooperation on critical minerals through a memorandum of understanding.
  • International Graphite is preparing to commission a graphite purification pilot plant in Italy with joint venture partner Alkeemia.
  • Altamin holds a portfolio of base metals, lithium and battery minerals projects across several Italian regions.

Western Australia's critical minerals sector continues to build international partnerships as governments seek secure Supply chains for the energy transition. Within the broader universe of Metal and Mining Stocks on the ASX, the state's latest step involves Italy, with the Western Australian Government and Italian export credit agency SACE signing a memorandum of understanding to support trade, Capital flows and cooperation across the critical minerals value chain. The agreement builds on a joint communiqué signed in August. A pair of ASX-listed companies with Italian operations, International Graphite Ltd (ASX:IG6) and Altamin Limited (ASX:AZI), illustrate the existing links between Western Australian companies and the Italian market, although neither is named as a party to the agreement.

From Communiqué to Memorandum

In August, Western Australia's Agent General in Europe, Rebecca Tomkinson, signed a joint communiqué with SACE at a state trade promotion event in Europe, attended by SACE chairman Guglielmo Picchi. According to the state government, the communiqué expressed an intent to encourage engagement and information exchange between Western Australian and Italian stakeholders, with a focus on critical minerals, the energy transition and battery industries.

The relationship has now been formalised through a memorandum of understanding aimed at encouraging new trade opportunities for businesses in both jurisdictions and supporting cooperation along the critical minerals value chain. Premier Roger Cook said the state was focused on secure, resilient and sustainable supply chains, and that Western Australia is uniquely positioned to play a leading role in the global energy transition.

Export credit agencies such as SACE provide guarantees and insurance that can help companies access financing for international projects and trade, which makes the relationship potentially relevant to developers seeking European partners.

Europe's Supply Security Context

Europe consumes a large share of global raw materials but produces relatively little of many critical minerals domestically. The European Union has sought partnerships with resource-rich allies to secure supply for batteries, defence and clean energy manufacturing, and Australia has been an active partner in those discussions.

For Western Australia, which hosts significant lithium, nickel, rare earths and other critical mineral operations, agreements of this kind can open pathways to European customers and financiers. Italy has a substantial Manufacturing base, including automotive, machinery and chemicals industries, which creates Demand for processed minerals and battery materials.

International Graphite: Building a Processing Presence in Italy

International Graphite has formed a joint venture with Italian chemicals company Alkeemia to develop a graphite processing hub in Italy. The company is preparing to begin commissioning a graphite purification pilot plant towards the end of this year, has committed to a significant share of the pilot plant's capacity, and reports that equipment installation is complete with final electrical works nearing completion.

Purified graphite is a key material for battery anodes, and Europe has limited domestic processing capacity. A pilot plant is an early step, and commercial-scale processing would require further studies, funding and offtake.

Altamin: A Portfolio Across Italian Regions

Altamin holds several Italian projects. Its Gorno project in Lombardy is a brownfield zinc, lead and silver redevelopment with historical workings and existing infrastructure, which the company hopes could eventually supply concentrates to European smelters.

The Lazio project sits within a geothermal field and is prospective for lithium, boron and sulphate of potash, with testwork and technical studies progressing. The Punta Corna project in Piedmont is prospective for cobalt, nickel, copper and silver, with further reconnaissance and drilling under consideration. Exploration at Punta Corna remains at an early stage, and results to date do not establish an economic deposit.

Risks and Considerations

Memoranda of understanding are typically non-binding and do not guarantee financing or commercial outcomes. Company-level risks include funding, permitting in Italy, technical performance of pilot facilities and Commodity price volatility. The value of the arrangement will depend on whether it leads to concrete financing support, trade flows or project partnerships, which may take time to emerge. Market Participants are also likely to watch how the agreement interacts with broader Australia and European Union cooperation on critical raw materials.

Strengthening the Australia-Europe Minerals Link

The memorandum between Western Australia and SACE formalises cooperation that began with the August communiqué, focusing on trade and critical minerals supply chains. International Graphite and Altamin show how Western Australian companies are already active in Italy across processing and exploration. The development reflects the broader push by Australian governments to position the country as a trusted supplier to European markets.