Graphite is one of the fastest growing metals and has been designated as a strategic mineral in the US, EU and Japan as automotive manufacturers around the world increasingly compete with Chinese manufacturers to secure supply. The graphite market has been predominantly driven by demand from the steel industry, but the EV sector is expected to account for a larger share of demand in the coming years.
Roskill predicts the graphite demand from battery makers will grow 23 – 27% each year through to 2028.
The need to increase graphite supply outside China to meet the uptick in EV production this year and beyond has accelerated investment in projects in Madagascar.
NextSource Materials has secured strategic investment led by Sir Mick Davis to fully fund construction of Molo Mine in Madagascar to the tune of US$29.5M. Tirupati has upscaled the Vatomina’s Graphite Production capacity by 50% to meet the market demand. PR Global Resources SARLU has completed their phase 2 exploration in the southern block of Anjamanga Graphite mine mapping 39 graphite schist layers covering an area of 673,340 sq. of High-Quality flaky graphite.