China announced last month it will require export permits for some graphite products in another bid to control critical mineral supply in response to challenges over its global manufacturing dominance.
China is the world’s top graphite producer and exporter. It also refines more than 90% of the world’s graphite into the material that is used in virtually all EV battery anodes. Benchmark Mineral Intelligence sees demand for graphite over the next decade growing at an annual compound rate of 10.5% but supply will lag, it says, expanding at only 5.7% per year.
While there is a need for 200,000 tonnes of graphite to meet demand, the reality is, the current US supply capability is zero.
Northern Graphite this month reopened North America’s only producing graphite mine, Lac des Iles in Quebec, Canada, after placing it on care and maintenance during the second and third quarters of this year due to challenging market conditions and prices for its products.
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