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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)
Erftcarbon announced a graphite electrode price increase, with tight needle coke and pet coke feedstock the likely driver as synthetic input costs continue to bite. Nouveau Monde Graphite closed its US$96.5M equity public offering, the final tranche of the US$297M package, fully funding Phase-2 Matawinie through to FID.
Sovereign Metals delivered the Kasiya DFS, a 25-year Malawi project with pre-tax NPV8 of US$2.2B and 275ktpa graphite output. Hazer Group and KBR completed a 30,000tpa process design package for methane pyrolysis. Focus Graphite added former Canadian Chief of the Defence Staff General Wayne Eyre to its advisory board.
In China, Shanshan's controlling shareholder restructuring was approved, Donghua Energy signed a 1Mtpa Maoming graphite deep processing project, and a 60,000 tonne anode project nears production. Equity sentiment rose to +3.22%, remaining in neutral territory.
Sovereign Metals announced the Kasiya DFS, outlining a 25-year rutile-graphite operation in Malawi with a pre-tax NPV8 of US$2.2B, 23% IRR, US$727M initial capex to first production, and steady-state annual EBITDA of US$476M. Kasiya is positioned to become the world's largest natural flake graphite producer at 275ktpa and the world's largest natural rutile producer at 222ktpa, with graphite production costs of approximately US$216/t placing it at the low end of the global cost curve outside China. The study was completed with Rio Tinto technical oversight.
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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Services
Technical and commercial support for graphite companies - from anode coating material supply and ore-to-anode test work to coin cell testing
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Developing an integrated mine-to-market graphite supply chain in Western Australia.
Company
Overview
International Graphite is advancing a Western Australian graphite strategy focused on building credible, ex-China supply through staged development and customer-aligned product specifications.
The company’s approach is designed to move beyond a simple “mine story” and toward a deliverable pipeline: consistent concentrate, downstream-ready material pathways, and a qualification roadmap aligned with battery and industrial end-users.
Near-term priorities typically centre on de-risking permitting and development milestones, progressing metallurgical and processing workstreams, and demonstrating commercial readiness through offtake-style engagement and market validation.
For investors, the key lens is execution: permitting progress, tangible technical outcomes, and the ability to translate project milestones into bankable financing and long-term customer demand.
Key facts
Location
Australia / Europe
Stage
Development
Strategy
Mine -> Processing
Focus
Vertically integrated mine-to-market
Market Cap
U$7.6M - 10 April 2026
Cash Position
A$1.4M - 31 Dec 2025
Reserve (MRE)
49.3Mt @ 6.5%
Production / Capacity
Multiple Assets - See Company Profile
Latest interview
Company
Overview
Northern Graphite is a natural graphite producer through its Lac des Iles (LDI) mine in Quebec, which has been producing for over 30 years. The company is pursuing a mine-to-battery strategy underpinned by multiple graphite assets across Canada and Namibia, with downstream battery anode material (BAM) development.
LDI currently produces approximately 15,000 tpa of graphite concentrate with installed nameplate capacity of 25,000 tpa. The mine was placed on temporary care and maintenance in November 2025 to address equipment issues and accelerate preparations for the 2026 pit expansion.
Beyond LDI, Northern holds the near-construction-ready Bissett Creek project in Ontario, the fully permitted Okanjande mine in Namibia (on care and maintenance), and the Mousseau property in Quebec. The company is also developing a planned 200,000 tpa BAM facility in Baie-Comeau, Quebec, in collaboration with the BMI Group. Other partnerships include a purification agreement with ALKEEMIA in Italy and a US$200M BAM plant term sheet with 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$19.2M - 10 April 2026
Cash Position
CAD$0.6M - 30 Sep 2025
Reserve (MRE)
Multiple Assets - See Company Profile
Production / Capacity
Multiple Assets - See Company Profile
Latest interview
Company
Overview
Titan Mining is positioning itself as the only fully integrated end-to-end U.S. producer of natural flake graphite, leveraging existing infrastructure at its Empire State Mine zinc operation in upstate New York. The company commenced graphite processing at its Kilbourne demonstration facility in December 2025 and produced its first concentrate in January 2026, marking the first domestic natural graphite production in over 70 years.
The December 2025 PEA confirmed strong project economics (after-tax NPV7% of US$513M, 37% IRR, 2.7-year payback) with initial capex of US$156M. 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 also recently uplisted to the NYSE American (ticker: TII), broadening its investor base.
Key facts
Location
USA
Stage
Commissioning
Strategy
Mine -> Concentrate
Focus
US domestic graphite supply
Market Cap
U$275.7M - 10 April 2026
Cash Position
U$4.3M - 30 Sep 2025
Reserve (MRE)
Reserve (MRE)
Production / Capacity
40,000 TPA Concentrate
Latest interview
Company
Overview
Renascor Resources 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 company completed its BAM study in August 2023, confirming globally competitive operating costs for PSG. Renascor has secured primary mining approvals (PEPR) and received South Australian ministerial approval for its BAM manufacturing facility, capable of producing up to 100,000 tpa of PSG. In April 2024, the Australian government approved a A$185M loan facility to fund development of the Siviour graphite concentrate operation.
Renascor’s financial position is notably strong for a pre-production company, with approximately A$97.2M in cash as of 31 Dec 2025, providing substantial runway to advance the project through detailed design and early construction phases.
Renascor has secured a range of non-binding strategic cooperation and offtake agreements with global industry participants, including Mitsubishi Chemical and POSCO, alongside MOUs with major Asian anode and trading groups.
Renascor is currently commissioning of its PSG demonstration facility. The project benefits from supportive Australian government policy, existing infrastructure proximity, and Renascor’s unique single-jurisdiction, mine-to-PSG value chain.
Key facts
Location
Australia
Stage
Development
Strategy
Mine -> Concentrate -> PSG
Focus
Australian battery supply chain
Market Cap
U$120.6M - 10 April 2026
Cash Position
A$97.2M - 31 Dec 2025
Reserve (MRE)
123.6Mt @ 6.9%
Production / Capacity
100,000 TPA PSG
Latest interview
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Founder – GraphiteHub
Founder – GraphiteHub
Harry founded GraphiteHub after identifying a lack of reliable, independent graphite market intelligence while investing in the space. What began as a personal research initiative has evolved into a full-time venture. Harry leads market intelligence and client engagement, drawing on a deep network of relationships built across the global graphite and anode ecosystem - from miners and processors to anode producers and end users. He drives GraphiteHub's interviews, market commentary, and strategic analysis, positioning the platform as a trusted, independent voice for investors and industry stakeholders navigating a rapidly evolving supply chain.
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Consulting Lead
Shaw leads GraphiteHub Consulting, with core focus areas spanning anode coating material, ore-to-concentrate processing, graphite sourcing and coin cell testing. Shaw is very familiar with the anode coating material field, handling evaluation, test work, and product benchmarking on behalf of our clients. His extensive network across China's graphite and anode material industry is central to what he delivers - providing Western clients with strategic introductions to key Chinese players in the anode and graphite space.
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European anode producer
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.
