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Lincoln Minerals (ASX: LML) is exploring the supply of graphite from its Kookaburra project in South Australia to the nuclear small modular reactor (SMR) market. The company has partnered with SCN Canada to investigate the use of high-purity graphite in SCN's reactors, which utilize high-temperature gas-cooled technology for improved stability and safety.

Kookaburra has a resource of 12.8 million tonnes at 7.56% total graphitic content and is positioned for low-cost development. A pre-feasibility study indicated a potential net present value of $114 million over a 16-year mine life with a $29 million upfront capital expenditure. This collaboration follows another partnership with Revera Energy for a scoping study on magnetite processing in South Australia, aiming for feasibility studies completion by the end of 2026.