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GRAPHITE MARKET
WEEKLY UPDATE:
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| Highlights from 27 - 31 October, 2025 |
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WEEKLY SUMMARY
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Graphite received strong backing this week as the Government of Canada announced $6.4 billion in critical minerals investments, with Nouveau Monde Graphite, Vianode, Focus Graphite, and Northern Graphite among the recipients.
Titan Mining received NYSE American pre-clearance for a potential U.S. listing. Greenwing Resources announced the commencement of a Stage 2 Scoping Study for its Madagascar graphite mine, and Westwater Resources progressed permitting for mine development at the Coosa Deposit in Alabama.
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| Graphite prices in China remained flat this week.
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Turning to the wider EV market, General Motors (GM) will cut 1,750 U.S. jobs across its EV and battery sites amid slower demand and regulatory shifts. Production at its Ultium Cells plants in Ohio and Tennessee will pause from early 2026, while quarterly profit fell 57% to US$1.32 billion as GM adjusts capacity following the expiry of federal EV tax credits.
Meanwhile, China’s BYD posted a 33% drop in quarterly profit to 7.82 billion yuan as price wars and weaker local demand hit margins. Deliveries dipped 1.8%, but overseas sales surged 160%, led by Europe and Latin America. BYD is boosting R&D and high-end models, targeting a 2026 rebound as Beijing moves to rein in aggressive price competition. |
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KEY UPDATES FROM GRAPHITE COMPANIES
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Not Listed: Vianode: Vianode to build large-scale clean synthetic graphite plant in Ontario in support of Canada’s contribution to the G7 Critical Minerals Production Alliance
TSX: NOU: NMG Finalizes Multiple Offtake Agreements for its Phase-2 Graphite Production Demonstrating Strong Support from Canadian Government and Customers
TSX: NOU: NMG and Traxys Finalize Offtake and Marketing Agreement for Natural Flake Graphite for Refractory Markets in North America and Europe
TSX: NOU: NMG and Panasonic Energy Update Their Commercial Agreement; Plan to Launch a Dedicated Initial Capacity of Active Anode Material Production
TSXV: BMR: Battery Mineral Resources Announces Appointment of Chief Financial Officer
LSE: BRES: Final Infill Results Confirm Continuity and Scale at Orom-Cross
ASX: VRC: Trading Halt
TSX: TI: Titan Mining Receives NYSE American Pre-Clearance for U.S. Listing
ASX: SGA: Key DFS Contracts Awarded
TSX: NEXT: NextSource Materials Announces Upsizing of Funding Facility from Vision Blue Resources to Advance UAE Anode Facility Development
ASX: GW1: Graphmada Graphite Mine – Stage 2 Scoping Study commenced
ASX: NVX: Drawdown of Additional Tranche of Convertible Debentures
ASX: SVM: Kasiya Unaffected by Malawi Raw Minerals Export Order
TSXV: NBM: NEO Battery Closes Book on Fully Subscribed Non-Brokered Private Placement Offering
TSX: TI: Titan Mining Advances Toward NYSE American Listing
NYSE: WWR: Westwater Resources Progresses Permitting Process for Mine Development at the Coosa Deposit
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TOP 5 GAINERS OF THE WEEK
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| Volt Carbon Technologies: |
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50% |
| Global Li-Ion Graphite: |
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33% |
| NextSource Materials: |
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29% |
| Northern Graphite: |
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22% |
| Titan Mining: |
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21% |
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TOP 5 DECLINERS OF THE WEEK
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| GrafTech: |
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-21% |
| EcoGraf: |
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-18% |
| Novonix: |
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-17% |
| Argyle Resources: |
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-17% |
| Westwater Resources: |
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-16% |
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IMARC 2025 | International Graphite: Funding, Partnerships & Downstream Development
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I spoke with Andrew Worland, Managing Director and CEO of International Graphite, live from the International Mining and Resources Conference (IMARC) 2025 in Sydney.
Andrew shares insights into International Graphite’s progress across its integrated operations - from the Springdale Graphite Project in Western Australia to the Collie micronising facility and expandable graphite venture in Germany. He also discusses the company’s funding initiatives, government partnerships, and how it is positioning to become a key supplier to ex-China markets.
We cover:
- How International Graphite is advancing downstream integration through its Collie and Germany projects
- The critical role of government partnerships and strategic capital in funding graphite projects
- How China’s export restrictions are reshaping demand and creating opportunities for Australian suppliers
- The company’s approach to qualification and why it remains one of the toughest hurdles in the graphite industry
- What to expect next at Springdale and the milestones ahead for International Graphite
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| Canada unlocks 26 new investments and partnerships with 9 allied countries to secure critical minerals supply chains |
The Government of Canada has announced 26 new investments and partnerships under the Critical Minerals Production Alliance, accelerating $6.4 billion in projects across graphite, lithium, scandium, and rare earths.
Key highlights for the graphite sector include:
- Nouveau Monde Graphite Expanded support from Canada, Japan, and Panasonic to develop North America’s largest integrated natural graphite operation.
- Vianode: LOIs totalling up to US$800 million from Canada and Germany for its synthetic graphite facility in Ontario.
- Northern Graphite: LOI with Italy’s Alkeemia for toll processing and technology collaboration at its Porto Marghera pilot plant, supporting planned anode facilities in France and Quebec.
- Focus Graphite Inc.: Conditionally approved $14.1 million in R&D funding for a chemical-free purification process in collaboration with Ukraine’s TMEC and U.S.-based AETC.
- Northern Graphite × Rain Carbon Inc.: Awarded $860,000 through the Canada-Germany Collaborative R&D Program to upcycle natural graphite from mining waste into high-performance anode material for fast-charging, long-life lithium-ion batteries.
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IMARC 2025 | Black Rock Mining: Financing, Partnerships & the Path to First Graphite Production
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I spoke with John De Vries, Managing Director and CEO of Black Rock Mining, live from the International Mining and Resources Conference (IMARC) 2025 in Sydney.
John shares insights into Black Rock’s progress at the Mahenge Graphite Project in Tanzania, one of the world’s largest advanced natural graphite developments, and discusses the company’s partnership with POSCO, its strategy for financing, and how it plans to supply the growing ex-China graphite market.
We cover:
- The path to first production and Mahenge’s role in strengthening the global graphite supply chain
- How partnerships like POSCO enable end-to-end integration without stretching capital resources
- The impact of China’s graphite export restrictions and how they are accelerating diversification
- Why collaboration and supply chain resilience are essential to building a sustainable graphite industry
- How Black Rock’s focus on simplicity, profitability, and execution sets it apart in a crowded market
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GENERAL EV MARKET NEWS
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| GM to cut US EV and battery jobs amid weaker demand
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General Motors (GM) announced plans to cut 1,750 U.S. jobs across its EV and battery production sites, citing slower electric vehicle demand and an evolving regulatory environment. Production will also be temporarily halted at its Ultium Cells battery plants in Ohio and Tennessee from early 2026, affecting about 1,550 workers, while additional layoffs hit Detroit and Michigan facilities. The company blamed the expiry of the U.S. $7,500 EV tax credit and weaker sales growth, reporting a 57% drop in quarterly net income to $1.32 billion as it realigns capacity to stabilize long-term profitability. |
| Read Here |
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| BYD profit slumps again as pressure piles up for China EV giant
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BYD reported a 33% fall in third-quarter profit to 7.82 billion yuan as China’s EV price war and weaker domestic demand weighed on results, while revenue slipped 3% to 194.98 billion yuan, missing expectations. Vehicle deliveries dropped 1.8% year-on-year to 1.15 million units, though overseas sales surged 160% across Europe and Latin America. The company has cut its 2025 sales goal to 4.6 million units amid intensifying competition from Geely and Changan. BYD is boosting investment in R&D and luxury brands such as Yangwang and Fangchengbao, expecting a rebound in 2026 as new models launch. |
| Read Here |
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