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Expert analysis across the global graphite ecosystem - from mine to anode.
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Australian developer focused on mine-to-anode graphite supply chains.
Operating and developing natural graphite assets in Africa and Europe.
NZ-based company developing biographite anode material from wood chips via catalytic graphitisation.
The leading vertically integrated natural graphite and anode material producer outside China.
China Natural Production
of global output (USGS 2025)
China Battery-Grade Graphite Supply
By 2030 (IEA 2025)
Cleantech Graphite Demand Growth
2021 to 2040 (IEA APS 2025)
International Graphite signed a binding JV with Alkeemia S.p.A. to build a graphite processing hub at Porto Marghera, Italy, targeting 10,000 tpa rising to ~15,000 tpa. It also received a Building Permit to begin earthworks at its Collie Micronising Facility, Australia’s first commercial micronising operation.
Blencowe Resource's updated Orom-Cross DFS lifted post-tax NPV10 by 15% to US$1.254bn. LE Minerals agreed to sell its Queensland graphite projects to M Battery Materials for $20 million, while Greenroc completed the anode mill circuit at its Denmark AAM pilot plant.
The Quad launched a US$20B critical minerals initiative across the US, Japan, Australia and India, and Tanzania formalised a graphite JV with Lindi Jumbo. Equity sentiment came in at +3.43%, remaining in neutral territory.
International Graphite signed a binding joint venture and shareholders’ agreement with Alkeemia S.p.A. to build a graphite processing hub at Alkeemia’s HF production facility in Porto Marghera, Italy. The JV (Alkeemia 51% / IG6 49%) targets an initial 10,000 tpa, rising to ~15,000 tpa within three years, with construction planned for Q3 2026 and first production in H2 2027, subject to a Final Investment Decision. The deal positions the partners as a low-opex European midstream hub.
Read the full announcement →
A Week in Graphite
Week ending 6 Feb 2026
Policy took centre stage as the Trump administration announced a US$12B critical minerals stockpile alongside coordinated pricing floors - the most significant U.S. intervention in graphite markets to date. The move signals a shift from passive support to active market shaping.
Ex-China supply chains continued to build momentum. NextSource locked in US$30M from JOGMEC and Hanwa for its UAE anode facility, Graphinex announced a Queensland-to-Japan natural graphite anode supply chain with Idemitsu, and Volt Resources expanded its Bunyu offtake from 12,000 to 90,000 tpa. Equity sentiment remained neutral at -3.73%.
Key Announcement of the Week
Week ending 6 Feb 2026
NextSource signs LOI with major Japanese anode processor for UAE facility
NextSource has secured a letter of intent with a major Japanese anode producer to supply multiple grades of anode active material from its UAE facility starting 2027. Combined with its existing 9,000 tpa Mitsubishi offtake, the deal would fully utilise and exceed Phase 1 capacity of 14,000 tpa — a strong validation of ex-China, vertically integrated supply chains.
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Developing an integrated mine-to-market graphite supply chain in Western Australia.
Company
Overview
International Graphite is developing the Springdale Graphite Project in Western Australia alongside a downstream processing platform spanning Collie (WA) and a 51:49 joint venture with Alkeemia at Porto Marghera, Italy, building a vertically integrated mine-to-market operation for industrial and battery anode markets.
A January 2024 Scoping Study confirmed globally competitive all-in sustaining costs of US$485/t, with two Springdale mining leases granted and a March 2025 FEED Study sizing Stage 1 of the Collie micronising plant at approximately 4,000 tpa, scalable to 7,500 tpa. Bench-scale purification testwork has achieved battery-grade purities of up to 99.97% TGC, comfortably exceeding lithium-ion anode specifications.
International Graphite has a non-binding MoU with Japan’s Marubeni Corporation covering potential spheroidised graphite supply and project financing, alongside the Alkeemia joint venture targeting 20,000 tpa of purified graphite by 2030. Australia’s first commercial graphite micronising plant is currently being commissioned at Collie, with first commercial production targeted for 2027.
Key facts
Location
Australia / Europe
Stage
Development
Strategy
Mine -> Processing
Focus
Vertically integrated mine-to-market
Market Cap
U$6.2M - 22 May 2026
Cash Position
A$1.1M - 31 March 2026
Reserve (MRE)
49.3Mt @ 6.5%
Production / Capacity
Multiple Assets - See Company Profile
Latest interview
Company
Overview
Northern Graphite (TSXV: NGC) is North America’s only natural graphite producer through its Lac des Iles (LDI) mine in Quebec, operating for over 30 years, anchoring a vertically integrated mine-to-battery strategy that spans multiple graphite assets across Canada and Namibia and a planned battery anode material (BAM) processing platform.
LDI currently produces approximately 15,000 tpa of graphite concentrate against installed nameplate capacity of 25,000 tpa, and was placed on temporary care and maintenance in November 2025 to address a mill bearing failure and accelerate development work ahead of the 2026 pit expansion. Northern’s wider asset base includes the near-construction-ready Bissett Creek project in Ontario, the fully permitted Okanjande mine in Namibia (currently on care and maintenance), and the Mousseau property in Quebec.
The company is developing a planned 200,000 tpa BAM facility at Baie-Comeau, Quebec, alongside the BMI Group at the Norderra brownfield hub, with modular phased build-out and first production targeted for 2027. Additional partnerships include a purification agreement with Alkeemia in Italy and a US$200M BAM plant term sheet with the Al Obeikan Group in Saudi Arabia.
Key facts
Location
Canada/Namibia/Saudi Arabia
Stage
Development/Production
Strategy
Mine -> BAM
Focus
Ex-China graphite supply
Market Cap
U$18.1M - 22 May 2026
Cash Position
CAD$2.5M - 31 Dec 2025
Reserve (MRE)
Multiple Assets - See Company Profile
Production / Capacity
Multiple Assets - See Company Profile
Latest interview
Company
Overview
Titan Mining (TSX: TI, NYSE-A: TII) is positioning itself as the only fully integrated end-to-end U.S. producer of natural flake graphite, developing the Kilbourne Graphite Project co-located within its 100%-owned Empire State Mine zinc complex in upstate New York and leveraging that site’s existing infrastructure, utilities and skilled workforce.
Titan commenced graphite processing at its 1,200 tpa Kilbourne demonstration facility in December 2025 and produced its first concentrate in January 2026, marking the first domestic natural flake graphite production in over 70 years. The December 2025 Kilbourne Project Study confirmed strong economics, with an after-tax NPV7% of US$513M, 37% IRR, 2.7-year payback and initial capex of US$156M, against an average 40,000 tpa nameplate at 95% Cg concentrate grade.
Titan has secured substantial U.S. government backing, including a US$15.8M EXIM Bank credit facility under the Make More in America initiative and a non-binding Letter of Interest for up to US$120M in project financing. The company recently uplisted to the NYSE American (ticker: TII), broadening its U.S. investor base ahead of the project’s commercial scale-up.
Key facts
Location
USA
Stage
Commissioning
Strategy
Mine -> Concentrate
Focus
US domestic graphite supply
Market Cap
U$225.9M - 22 May 2026
Cash Position
U$17.5M - 31 Dec 2025
Reserve (MRE)
Reserve (MRE)
Production / Capacity
40,000 TPA Concentrate
Latest interview
Company
Overview
Renascor Resources (ASX: RNU) is developing the Siviour Battery Anode Material (BAM) project in South Australia, a vertically integrated operation designed to mine graphite, produce concentrate, and manufacture purified spherical graphite (PSG) for lithium-ion battery anodes, all within a single jurisdiction.
The August 2023 BAM Study confirmed globally competitive operating costs for PSG, with primary mining approvals (PEPR) secured and South Australian ministerial approval received for a BAM manufacturing facility capable of producing up to 100,000 tpa of PSG. The Australian Government approved a A$185M loan facility in April 2024 to fund the Siviour graphite concentrate operation, and Renascor reported approximately A$95M in cash as at 31 March 2026.
Renascor moved its PSG demonstration plant in Adelaide into full-plant commissioning in April 2026, trialling a continuous, hydrofluoric acid-free purification process intended to differentiate Siviour PSG on cost and environmental footprint. Strategic cooperation and offtake agreements are in place with Mitsubishi Chemical, POSCO and Hanwa, alongside MOUs with major Asian anode and trading groups, underpinning the company’s positioning as a single-jurisdiction, non-Chinese mine-to-PSG supplier.
Key facts
Location
Australia
Stage
Development
Strategy
Mine -> Concentrate -> PSG
Focus
Australian battery supply chain
Market Cap
U$111.3M - 22 May 2026
Cash Position
A$95M - 31 March 2026
Reserve (MRE)
123.6Mt @ 6.9%
Production / Capacity
100,000 TPA PSG
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ONEJOON is a global provider of high-temperature industrial furnace and kiln systems, with over 125 years of expertise and operations spanning South Korea, Germany, the USA, China, and Poland. A leader in thermal processing for anode and cathode active material production, ONEJOON plays a direct role in the graphite-to-battery supply chain.
