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GRAPHITE MARKET
WEEKLY UPDATE:
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| Highlights from 12 - 16 January, 2026 |
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WEEKLY SUMMARY
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This week in the graphite market, Northern Graphite signed a term sheet with Saudi Arabia's Al Obeikan Group for a US$200 million battery anode material plant in Yanbu, with 25,000 tpy Phase I capacity forecast for 2028. Novonix announced that mass production of anode material for Panasonic has been delayed to H2 2027, though industrial grade graphite production is still expected this year. International Graphite appointed Aidan Nania as Executive Director - he was previously a director and significant shareholder of Skaland Graphite AS, Europe's largest natural graphite producer.
On the policy front, President Trump signed a Section 232 proclamation on processed critical minerals (including graphite), directing negotiations with trading partners to address national security risks from import reliance. |
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Turning to the wider market, Britain's Transport Ministry has rejected auto industry requests to relax subsidy rules that effectively bar Chinese-made EVs from receiving up to £3,750 per car in taxpayer grants, citing a lack of independent assessment in proposed alternative emissions standards.
Meanwhile, Ford is in negotiations with BYD to source batteries for its hybrid vehicles, as the American automaker pivots away from pure EVs - the companies already have existing ties through Ford's Chinese joint venture and the BYD-powered Bronco PHEV.
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KEY UPDATES FROM GRAPHITE COMPANIES
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TSXV: NBM: NEO Battery Closes Book on Fully Subscribed Private Placement Offering
TSXV: GEL: Graphano Energy Ltd. Completes Airborne Geophysical Survey at Black Pearl
ASX: NVX: Operations Update Panasonic Energy Offtake
ETR: SGL: Long-term graphite agreement strengthens X-energy supply chain
LSE: BRES: European Purification Testwork Confirms Highest Purity Graphite Products
ASX: HZR: Hazer Collaborates with Kemira on Industrial Applications
ASX: EVG: US House passes support for AGOA
TSXV: NGC: Northern Graphite & Al Obeikan Term Sheet for US$200M BAM Plant
TSXV: FMS: AI-Enabled Graphite Flake Sizing Technology Validated
ASX: BKT: Mahenge Graphite Project Early Works Progress
ASX: IG6: Board appointment – graphite industry leader
TSXV: FCI: Airborne EM & Magnetic Surveys + Land Expansion
TSX: NEXT: Term Sheets Executed to Advance UAE Battery Anode Facility
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| TOP 5 GAINERS OF THE WEEK |
| Titan Mining: |
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42% |
| NextSource Materials: |
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35% |
| Elcora Advanced Materials: |
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30% |
| Northern Graphite: |
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24% |
| Evolution Energy Minerals: |
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20% |
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| TOP 5 DECLINERS OF THE WEEK |
| Novonix: |
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-25% |
| Volt Carbon Technologies: |
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-14% |
| Focus Graphite: |
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-13% |
| Volt Resources: |
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-10% |
| Syrah Resources: |
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-6% |
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GraphiteHub: China Trip |
Just returned from a week in China visiting some of the biggest names in the graphite, anode materials, and equipment industry: BTR New Material Group Co, Yulong, Xinde Materials Co - along with consultants and technical experts across the sector.
From touring an anode coating material facility, to walking through a graphite purification plant, to visiting BTR's R&D centre, there's nothing like seeing it firsthand.
Invaluable discussions on the graphite industry, coating technology, and the realities of building anode supply chains ex-China.
Insights to come.
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| Hydrofluoric Acid in Graphite Purification: Alkeemia |
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In our latest episode, I spoke with Yoshi Uenishi, Chief Strategy Officer at Alkeemia.
Alkeemia is an Italian chemicals company producing hydrofluoric acid (HF). Leveraging its expertise, permits, and track record in HF handling, Alkeemia is now integrating a commercial-scale HF-based graphite purification plant.
We cover:
- Why Alkeemia is committed to HF-based purification
- The biggest misconceptions around HF and how it can be safely handled
- Where purification sits in the graphite processing flow
- Why alternative purification methods haven’t yet scaled commercially
- Growing inbound interest in HF purification
- Alkeemia’s partnerships with Northern Graphite and International Graphite
- Expansion plans
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Northern Graphite and Al Obeikan Group for Investment Company Sign Term Sheet for US$200 Million Battery Anode Material Plant in Kingdom of Saudi Arabia
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A major move from Northern Graphite this week.
The company has signed a term sheet with Obeikan Investment Group to develop a US$200M battery anode material plant in Yanbu, Saudi Arabia.
Key points:
- 25,000 tpa BAM Phase 1 capacity starting 2028
- JV ownership: 51% Obeikan / 49% Northern Graphite
- Debt financing to be sourced locally in Kingdom of Saudi Arabia, backed by government lenders
- Advanced talks underway on long-term offtake for the initial 25kt
- JV will secure up to 50,000 tpy of concentrate supply from Okanjande, helping accelerate its restart
- Northern to receive royalty on BAM sales in addition to its 49% equity stake
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Adjusting Imports of Processed Critical Minerals and Their Derivative Products Into the United States |
Trump holds off on critical minerals tariffs - but signals price floors could be coming
The White House released its Section 232 findings on processed critical minerals on Wednesday. The Commerce Department concluded that America's dependence on foreign processing, particularly for materials essential to defense and critical infrastructure, poses a threat to national security.
But rather than impose tariffs immediately, the administration is pursuing negotiations with trading partners to secure reliable supply and reduce import dependence. If those talks fall short within 180 days, tariffs and minimum import prices remain on the table.
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| Canada, China reach initial trade deal on electric vehicles |
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Canada just announced a deal allowing 49,000 Chinese EVs into the market at just 6.1% tariff (down from 100%).
This represents a major headwind for non-Chinese EV makers already struggling to compete.
It also comes at a time when North American EV production is under pressure and market share is being squeezed.
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GENERAL EV MARKET NEWS
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| Britain slams door on subsidies for Chinese electric cars
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Britain's Transport Ministry has rejected auto industry requests to relax subsidy rules that effectively bar Chinese-made electric vehicles from receiving up to £3,750 per car in taxpayer grants.
The Department for Transport concluded that three alternative emissions reporting standards proposed by carmakers "are not compatible" with government principles, as these disclosure frameworks lack independent assessment.
Current rules require vehicles to meet Science Based Targets Initiative standards for manufacturing emissions - criteria that exclude Chinese production due to the country's grid carbon intensity.
The decision comes as PM Keir Starmer prepares to visit China later this month to pitch investors on setting up UK factories.
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| Read Here |
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| Ford in talks with BYD for battery supply deal
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Ford is in negotiations with BYD to source batteries for some of its hybrid vehicle models, according to The Wall Street Journal.
One option under consideration involves Ford shipping BYD-supplied batteries to manufacturing facilities outside the United States, though the deal has not yet been finalised.
The potential partnership aligns with Ford's recent strategic pivot away from pure EVs toward hybrids, with a target of having hybrid, PHEV, and electric vehicles account for half of global sales by 2030.
The companies have existing ties - Ford has used BYD batteries in its Chinese joint venture vehicles since 2020, and the recently launched Ford Bronco PHEV uses batteries from BYD subsidiary Findreams.
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| Read Here |
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