Renascor Resources (ASX:RNU) said it received early contractor involvement submissions from its engineering, procurement, and construction contractors for its proposed upstream graphite mining and processing operation in South Australia, according to a Friday filing with the Australian bourse.

It is reviewing the submissions to select a preferred contractor, the filing said.

The process includes incorporating design improvements to the comminution, flotation, and re-grind circuits.

The capital cost estimate of the mineral processing plant rose by 4.7%, or 2.8% of the overall pre-production estimate for the stage one upstream operation of AU$214.5 million compared with its 2023 battery anode material definitive study, per the filing.

The cost increases are primarily due to design improvements, inflation, and foreign exchange assumptions.

Its shares rose 4% on market close on Friday.