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Welcome to the February edition of the graphite miners news.
February saw strong progress by the graphite miners as well as news of Tesla’s off-take deal with graphite junior Magnis Energy Technologies.
Graphite price news
During the past 30 days the China graphite flake-194 EXW spot price was down 1.77%. The China graphite flake +195 EXW spot price was down 0.94%. Note that 94-97% is considered best suited for use in batteries; it is then upgraded to 99.9% purity to make “spherical” graphite used in Li-ion batteries. The spherical graphite 99.95% min EXW China price was down 1.24% the past 30 days.
On January 23, 2023 Fastmarkets stated:
Graphite prices got off to a slow start to 2023, with prices receding under the pressure of weakening demand, despite seasonally reduced graphite output. In China, while flake graphite prices are maintaining stability on lower supply in line with seasonal production outages, spherical graphite prices are declining in response to reduced demand from the EV battery sector.
Fastmarkets reported on January 23, 2023 that China graphite flake (94% C -100 mesh) prices were at ~US$830/t and Europe graphite flake (94% C -100 mesh) prices were at US$775/t. China spherical graphite (99.95% C, 15 microns, FOB) prices were US$2,500-2,800.
Fastmarkets flake graphite (94% C -100 mesh) [gold] and spherical graphite [purple] prices 2022 and January 2023 (source)
Fastmarkets
Note: You can read about the different types of graphite and their uses here.
Graphite demand and supply forecast charts
BMI graphite-market-balance benchmarkweek-2022 (source)
BMI
Trend Investing v IEA demand forecast for EV metals (Trend Investing) (IEA)
Trend Investing & IEA
2021 IEA forecast growth in demand for selected minerals from clean energy technologies by scenario, 2040 relative to 2020 – Increases Of Lithium 13x to 42x, Graphite 8x to 25x, Cobalt 6x to 21x, Nickel 7x to 19x, Manganese 3x to 8x, Rare Earths 3x to 7x, And Copper 2x to 3x
IEA
2022 – BMI forecasts graphite deficits to begin from 2022 as demand for graphite grows strongly
BMI
2022 – BMI forecasts we need 330+ new EV metal mines from 2022 to 2035 to meet surging demand – 97 new 56,000tpa natural flake graphite mines
BMI
Graphite market news
On February 15 Fastmarkets reported:
GreenRoc wins ERMA support for Amitsoq graphite project. The European Raw Materials Alliance (ERMA) has given its official support to GreenRoc Mining’s Amitsoq graphite project in southern Greenland with the intention of improving the security of graphite supply for the EU, which has categorized it as a critical material.
Note: GreenRoc trades as GreenRoc Mining [LSE:GROC]. Some details on their website.
On February 20 Investing News reported:
Top 10 graphite-producing countries (Updated 2023). According to Benchmark Mineral Intelligence, demand for graphite from the battery anode segment could increase by seven times in the next decade as surging electric car sales and the energy storage trend continue.
Note: From the article above the top 5 countries in order are China (850,000 tpa), Madagascar (170,000 tpa), Mozambique (110,000 tpa), Brazil (87,000 tpa), and South Korea (17,000 tpa).
Graphite miners news
Graphite producers
I have not covered the following graphite producers as they are not typically accessible to most Western investors. They include – Aoyu Graphite Group, BTR New Energy Materials, Qingdao Black Dragon, National de Grafite, Shanshan Technology, and LuiMao Graphite.
Note: AMG Advanced Metallurgical Group NV [AMS:AMG] [GR:ADG] (OTCPK:AMVMF) is also a “diversified producer”, producing graphite, vanadium, and lithium. SGL Carbon [ETR:SGL] (OTCPK:SGLFF) is a synthetic graphite producer and Novonix [ASX:NVX] (OTCQX:NVNXF) is commercializing their synthetic graphite product. Graphex Group Limited [HK:6128] (OTCQX:GRFXY) makes spherical graphite.
Syrah Resources Limited [ASX:SYR][GR:3S7](OTCPK:SYAAF)(OTC:SRHYY)
Syrah Resources Limited owns the Balama graphite mine in Mozambique. Syrah is also working to become a vertically integrated producer of natural graphite Active Anode Material (“AAM”) at their Vidalia facility, Louisiana, USA.
On January 31 Syrah Resources announced: “Quarterly activities report for the three months ending 31 December 2022.” Highlights include:
- “…Demand growth for Balama natural graphite end uses, with global electric vehicle (“EV”) sales in December 2022 quarter up 63% versus the December 2021 quarter to ~3.7 million units1 and strong Chinese anode production.
- Balama production, C1 costs and sales impacted by illegal industrial action and a precautionary security measure.
- 28kt natural graphite sold and shipped with 35kt produced at Balama at 78% recovery during quarter – 19kt produced at 80% recovery in December with uninterrupted operations and logistics movements.
- Balama C1 cash costs (FOB Nacala/Pemba) of US$709 per tonne, impacted by operational interruptions and sustained high diesel costs through the quarter.
- Weighted average sales price increased to US$716 per tonne (CIF).
- Agreement on final specifications of AAM supply to Tesla, fulfilling a key condition to the 8ktpa AAM offtake obligation from the 11.25ktpa AAM Vidalia facility.
- Tesla option exercised for an additional 17ktpa AAM, for a total 25ktpa AAM5 – key customer commitment for the expansion of Vidalia to a 45ktpa AAM, inclusive of 11.25ktpa AAM, production capacity (“Vidalia Further Expansion”).
- MOU signed with LG Energy Solution to evaluate AAM supply from Vidalia.
- Detailed engineering on Vidalia’s initial expansion to 11.25ktpa AAM production capacity (“Vidalia Initial Expansion”) essentially complete.
- Construction of the 11.25ktpa AAM Vidalia facility advancing within the planned schedule and budget with a targeted start of production in the September 2023 quarter.
- Definitive Feasibility Study (“DFS”) on the Vidalia Further Expansion project nearing completion.
- Assessing potential development options for a large-scale AAM facility in Europe through partnership.
- Closed binding US$102 million loan from US Department of Energy (“DOE”) to support financing for the Vidalia Initial Expansion project with first advance expected in the March 2023 quarter.
- Progressing negotiation of ~US$220 million grant from DOE to fund a significant proportion of capital costs of the Vidalia Further Expansion project.
- Quarter end cash balance of US$90 million.”
You can view the latest investor presentation here.
Catalysts:
- September 2023 quarter – First Stage 11.25ktpa AAM Vidalia facility targeted to start production.
Ceylon Graphite [TSXV:CYL] [GR:CCY] (OTC:CYLYF)
Ceylon Graphite has ‘Vein graphite’ production out of one mine in Sri Lanka with 121 square kilometers of tenements.
On February 7 Ceylon Graphite announced:
Ceylon Graphite announces amended and restated agreement for acquisition of Sarcon Development…Under the Restated Agreement, the Company has agreed to issue to the Vendor an aggregate total amount of common shares (the “Common Shares”) of the Company equal to an aggregate sum of US$1,625,000…
Mineral Commodities Ltd. (“MRC”) [ASX:MRC]
Skaland Graphite is 90% owned by MRC. Skaland is the highest grade flake graphite operation in the world and largest producing mine in Europe; with immediate European graphite production of up to 10,000 tonnes per annum with regulatory approval to increase to 16,000. MRC plans to demerge its Norwegian graphite assets into a newly incorporated Norway company branded as Ascent Graphite.
On January 31 Mineral Commodities Ltd. announced: “Quarterly activities report–December 2022.” Highlights include:
- “MRC secured funding support for its Strategic Plan Growth Strategy through a Placement and Rights Issue, which were strongly supported by shareholders.
- MRC announced the appointment of a new Chairperson, Mr. Brian Moller.
- Skaland achieved its FY2022 budgeted production and sales forecasts.
- Inland Strand primary concentration circuit upgrade construction project nearly complete.
- De Punt exploration drilling underway, targeting a JORC Code compliant maiden Mineral Resource…”
Tirupati Graphite [LSE:TGR] (OTCQX:TGRHF)
On February 20 Tirupati Graphite announced: “Production capacity reaches 30,000tpa with commissioning of new 18,000tpa facilities.” Highlights include:
Sahamamy Project, Madagascar
- “Construction, installation & commissioning of new facilities with a name plate capacity to produce 18,000 tons of flake graphite per annum has been completed and commercial production has commenced…
- The head grade feed to the preconcentrate plant was in the target range of 4 – 5% and the target product grade of >95% has been achieved.
- The mining and processing operations are fully commissioned and the Company will now ramp-up production and commercial sales.
- …operations are expected to reach the minimum stable output of 80% of name plate capacity by March 2023.
- The startup of these new facilities was delayed by three months owing to shipping delays and weather-related interruptions caused by cyclone Cheneso.”
Northern Graphite [TSXV:NGC][GR:ONG] (OTCQX:NGPHF)
Northern Graphite purchased from Imerys the Lac des Iles producing graphite mine in Quebec and the Okanjande graphite deposit/Okorusu processing plant in Namibia. They also own the Bissett Creek graphite project located 100km east of North Bay, Ontario, Canada and close to major roads and infrastructure. The Company has completed an NI 43-101 Bankable final Feasibility Study and received its major environmental permit.
On February 13 Northern Graphite reported:
Northern Graphite signs agreement to acquire ownership interest in NeoGraf Solutions…Under the terms of agreement, Northern has a six month option to acquire an effective 50.1% voting interest and a 33.3% equity interest in NeoGraf and also has an option to increase its interest up to 100% at a later date subject to the terms and conditions of the agreement… This investment will enable Northern to integrate downstream into the manufacturing of graphite products for a number of high-growth markets including lithium ion batteries/EVs, fuel cells, graphene and nanomaterials, thermal management in consumer electronics, smart building products and fire retardants…
You can view the latest investor presentation here and the very recent Trend Investing article on Northern Graphite here or a Trend Investing CEO interview here.
Graphite developers
NextSource Materials Inc. [TSX:NEXT] [GR:1JW] (OTCQB:NSRCF)
NextSource Materials Inc. is a mine development company based in Toronto, Canada, that’s developing its 100%-owned, Feasibility-Stage Molo Graphite Project in Madagascar. The Company also has the Green Giant Vanadium Project on the same property. The Molo mine is fully-funded and scheduled to commission in Q1 2023.
On February 21 NextSource Materials Inc. announced:
Construction of the processing plant for the Molo Graphite Mine is complete. President and CEO, Craig Scherba, commented: “We are now entering the final stages of development of Phase 1 and are fast approaching first production. We look forward to providing a more detailed update as we progress through commissioning.”
Investors can view the latest company presentation here or the latest Trend Investing article here.
Talga Group [ASX:TLG] [GR:TGX] (OTCPK:TLGRF)
Talga Group is a technology minerals company enabling stronger, lighter and more functional materials for the multi-billion dollar global coatings, battery, construction and carbon composites markets using graphene and graphite. Talga 100% owned graphite deposits are in Sweden, proprietary process test facility is in Germany.
On January 30 Talga Group announced: “Quarterly activities review for period ending31 December 2022.” Highlights include:
Commercial and project development
- “ACC continues to advance 60,000 tonne Talga anode offtake agreement.
- Battery maker Verkor enters LOI for Talga anode supply agreement post quarter end.
- Environmental permit hearing for Vittangi graphite mine commencing 31 January 2023.
- Permitting process for 19,500 tpa Luleå anode refinery advanced.”
Product and technology development
- “Electric Vehicle Anode (EVA)qualification plant in Sweden achieves ISO 14001 accreditation.
- Silicon anode product, Talnode®–Si, commercialisation and tech development progressed.
- Talga announced opening of new battery Centre of Excellence…“
Corporate and finance
- “European Investment Bank appraising up to EUR300m loan for Vittangi Anode Project.
- A$32 million raised via institutional placement and Share Purchase Plan.
- Talga presenting and exhibiting at globally significant industry events.”
On February 1 Talga Group announced: “Vittangi environmental permit hearing commenced…“
On February 23 Talga Group announced: “Talga successfully completes A$40million institutional placement.”
On February 23 Talga Group announced: “Permitting advances for Swedish Battery Anode Project…“
You can view the latest investor presentation here.
Westwater Resources (NYSE:WWR)
Westwater Resources Inc. is developing an advanced battery graphite business in Alabama. The Coosa Graphite Plant (2023 production start) plans to source natural graphite initially from non-China suppliers and then from the USA from 2028.
No news for the month.
You can view the latest investor presentation here.
Magnis Energy Technologies Ltd [ASX:MNS] (OTCQX:MNSEF)
Magnis is an Australian based company that has rapidly moved into battery technology and is planning to become one of the world’s largest manufacturers of lithium-ion battery cells. Magnis has a world class graphite deposit in Tanzania known as the Nachu Graphite Project.
On January 27 Magnis Energy Technologies Ltd. announced: “Quarterly report for quarter endingDecember2022.” Highlights include:
- “Magnis’ Lithium-ion battery manufacturing facility operated by Imperium3 New York Inc (“iM3NY”) completed internal qualification of its commercially produced cells.
- Progress made for planned US active anode material facility with orders placed for key demonstration plant equipment and appointment of commercial real estate advisor JLL to locate a suitable site
- Construction of the Eco-village as part of the Resettlement Action Plan for the Nachu Graphite Project in Tanzania was largely completed with resettlement to occur in the third quarter FY23…
- Financial and legal advisers with extensive transactional experience in the mining and metals industry in Africa appointed to assist with funding for the Nachu Graphite Project.
- Continued negotiations on the framework agreement with the Government of Tanzania which is expected to be concluded during the third quarter FY23.”
On February 21 Magnis Energy Technologies Ltd. announced: “Magnis signs Offtake Agreement for North American anode active material production… with Tesla, Inc. (“Tesla”) for the supply of AAM beginning in February 2025 with fixed pricing. ” Highlights include:
- “Offtake Agreement signed for the supply of Anode Active Materials (AAM).
- Magnis to supply a minimum of 17,500 tonnes per annum (tpa) of AAM beginning in February 2025 for a minimum term of 3 years at a fixed price.
- The agreement contains a customer option to increase up to 35,000tpa.
- Magnis to commence large scale pilot plant development for both AAM and Nachu graphite concentrate immediately.”
Gratomic Inc. [TSXV:GRAT] [GR:CB82 ] (OTCQX:CBULF)
Gratomic’s Aukam Graphite Project is located in Namibia, Africa. The Project is undergoing ‘operational readiness’. Gratomic also 100% own the Capim Grosso Graphite Project in Brazil. Gratomic is also collaborating with Forge Nano to develop a second facility for graphite micronization and spheronization.
On January 25 Gratomic Inc. announced:
Gratomic announces LOI with Graphex Technologies to produce natural graphite anode material…Pursuant to the LOI, Gratomic and Graphex intend to diligently and in good faith negotiate the terms of a Joint Venture, including management and ownership structures, to jointly produce coated spherical graphite anode material for the EV/battery market…Gratomic intends to develop operating graphite concentrating facilities. Gratomic shall remain entitled to enter into supply agreements with third parties for raw material not committed to the Joint Venture.
On January Gratomic Inc. announced: “Gratomic announces closing of first tranche of $6 million Non-Brokered Private Placement.”
Black Rock Mining [ASX:BKT] (OTCPK:BKTRF)
No news for the month.
Nouveau Monde Graphite [TSXV:NOU] (OTCQX:NMGRF) (NYSE:NMG) and Mason Graphite [TSXV:LLG] [GR:M01] (OTCQX:MGPHF)
Nouveau Monde Graphite (“NMG”) own the Matawinie graphite project, located in the municipality of Saint-Michel-des-Saints, approximately 150 km north of Montreal, Canada. NMG (51%) and Mason Graphite (49%) have agreed to JV (subject to approvals) on the Lac Guéret Project.
On February 10 Nouveau Monde Graphite announced:
NMG obtains financial levers of up to CA$3.6 million to further develop its advanced transformation processes for environmentally friendly anode material.
You can view the latest investor presentation here.
Greenwing Resources Limited [ASX:GW1] (OTCPK:BSSMF)
On January 31 Greenwing Resources Limited announced: “Quarterly activities report – December 2022 quarter 31 January 2023.” Highlights include:
Corporate
- “The Company has made considerable progress executing its strategy to become an integrated green metals producer with exposure to lithium, graphite and advanced materials.
- Fundamentals for both lithium and graphite concentrates remain strong as the global economy transitions toward a lower carbon economy intensifies.
- A$12m strategic funding transaction with NIO Inc. approved by shareholders on 19 December 2022 and after quarter-end the transaction was completed in January 2023…
- This funding provides Greenwing with a robust financial platform to pursue its strategy.
- NIO’s nominee Mr. Alan Zeng has been appointed as a non-executive director effective 13 January 2023.“
Graphmada Graphite Mining Complex, Madagascar
- “Study activities continued using the updated Graphmada Mineral Resource (61.9 million tonnes (Mt) at 4.5% Fixed Carbon (FC)).
- Material increases in graphite concentrate prices support the continued investment in this project.”
You can view the latest company presentation here.
Triton Minerals [ASX:TON][GR:1TG] (OTCPK:TTMNF)
Triton Minerals Ltd. engages in the acquisition, exploration and development of areas that are highly prospective for gold, graphite and other minerals. The company was founded on March 28, 2006 and is headquartered in West Perth, Australia. Triton has two large graphite projects in Mozambique, not far from Syrah Resources Balama project.
On January 31 Triton Minerals announced: “Quarterly activities report for period ending 31 December 2022.” Highlights include:
- “Triton recommits to development of Ancuabe Project on large scale basis (60ktpa of high purity large flake graphite concentrate)…Decision was based on strong and increasing demand for graphite from both battery and industrial applications and the potentially exceptional returns from the project, as well as the strong support of its proposed cornerstone shareholder, Shandong Yulong.
- DFS Update – commenced an update of the 2017 DFS – focused on refreshing the key inputs such basket pricing, upfront capital expenditure, operating expenditure and sustaining capital expenditure.
- Ancuabe Project Approvals – gained approval of the DUAT (land use agreement) and RAP (site land user relocation agreement) and submitted the application for approval of the environmental license by the Mozambique cabinet.
- New Chairman – appointment of Mr Zhang as Non-Executive Chairman.
- Approval of Strategic Placement for a Cornerstone investment of A$5M – during the quarter progress made on approvals such as FIRB, Chinese Outward Investment, Triton shareholder, due diligence by Shandong Yulong (satisfied via the site visit).
- Cash on hand as at 31 December 2022 – A$3M with conditional commitments for a further A$5M from Tranche Two of Capital Raising.“
You can view the latest investor presentation here and the latest article on Trend Investing here.
SRG Mining Inc. [TSXV:SRG] [GR:18Y] [Formerly SRG Graphite Inc.] (OTCPK:SRGMF)
SRG is focused on developing the Lola graphite deposit, which is located in the Republic of Guinea, West Africa. The Lola Graphite occurrence has a prospective surface outline of 3.22 km2 of continuous graphitic gneiss, one of the largest graphitic surface areas in the world. SRG owns 100% of the Lola Graphite Project.
No news for the month.
You can view the latest investor presentation here.
Leading Edge Materials [TSXV:LEM] (OTCQB:LEMIF)
Leading Edge Materials Corp. is a Canadian company focused on becoming a sustainable supplier of a range of critical materials. Leading Edge Materials’ flagship asset is the Woxna Graphite Project and processing plant in central Sweden. The company also owns the Norra Karr REE project, and the 51% of the Bihor Sud Nickel-Cobalt exploration stage project in Romania.
On January 25 Leading Edge Materials Corp. announced: “Leading Edge Materials reports fiscal 2022 results…”
Investors can view the latest company presentation here.
Renascor Resources [ASX:RNU] (OTC:RSNUF)
Renascor Resources Ltd. is an Australian exploration company, which focuses on the discovery and development of economically viable deposits containing uranium, gold, copper, and associated minerals. Its projects include graphite, copper, precious metals, and uranium.
On January 31 Renascor Resources announced: “Quarterly activities report for the period ended 31 December2022.” Highlights include:
- “Renascor received approval from the South Australian Department of Energy and Mining [DEM]for the Program for Environment Protection and Rehabilitation [PEPR] for its proposed Siviour Mine and Concentrator in South Australia1, the upstream component of Renascor’s proposed vertically integrated Siviour Battery Anode Material [BAM] Project in South Australia. The PEPR approval permits Renascor to process up to 1.65 million tonnes per annum, which would allow Renascor to produce up to 150,000 tonnes of Graphite Concentrates per year…“
You can view the latest investor presentation here.
EcoGraf Limited [ASX:EGR] [FSE:FMK] (ECGFF)
On January 31 EcoGraf Limited announced:
Quarterly activities report. Epanko positions to support vertically integrated lithium-ion battery anode material supply chains…
On February 16 EcoGraf Limited announced:
Epanko Graphite Project. In conjunction with completion of approval processes to enable signing of the Framework Agreement, EcoGraf and the Government of Tanzania (GoT) have agreed to commence registration of Duma TanzGraphite Limited (Duma meaning cheetah in Swahili) as the new Tanzanian mining entity that will develop and operate the Project. The Company is pleased to be working with the Government as a key stakeholder in the development of Epanko, a world class graphite project which is forecast to make an inter-generational contribution to economic, industrial and social development in Tanzania.
You can view the latest investor presentation here.
Lomiko Metals Inc. [TSXV:LMR] (OTCQB:LMRMF)
Lomiko has two projects in Canada – La Loutre graphite Project (flagship) (100% interest) and the Bourier lithium Project (70% earn in interest).
On February 6 Lomiko Metals Inc. announced:
Lomiko Metals’ La Loutre Graphite Pre-Feasibility Level Flotation Optimization Studies produce consistent high-grade flotation concentrates grading up to 99.7% C[T]…
On February 21 Lomiko Metals Inc. announced: “Lomiko identifies 55 new prospective targets in the Grenville Graphite Mineral Belt and updates exploration on Bourier Lithium Project.” Highlights include:
- “1518-line kilometers of heliborne magnetic and time-domain electromagnetic surveys completed over the six Grenville graphite properties (Figure 1).
- 55 targets prospective for graphite mineralization identified.
- Targets to be ground tested with Beep-Mat prospecting and sampling.”
Focus Graphite [TSXV:FMS][GR:FKC] (OTCQB:FCSMF)
On February 1 Focus Graphite announced:
Focus Graphite reports 92.42 m grading 14.28% Graphitic Carbon (CG) in hole LT-22-131; 86.66 m grading 15.00% Cg in hole LT-22-130; and 91.83 m grading 13.84% Cg in hole LT-22-132 from the 2022 Definition Drilling Program at Lac Tétépisca, Québec…
Metals Australia [ASX:MLS] (OTCPK:MTLAF)
On January 31 Metals Australia announced: “Quarterly activities report, 31 December 2022.” Highlights include:
Lac Rainy Graphite Project, Quebec, Canada:
- “Spherical graphite and battery testwork on a high-grade graphite concentrate sample from the Lac Rainy Graphite Project is well advanced. High-quality spherical graphite has been produced and the final stage of purification, targeting “battery grade” 4, is nearing completion.
- Electrochemical (battery) testwork will immediately follow to confirm lithium-ion battery anode charging qualities and durability.
- Following the battery testwork drilling will commence, to grow the high-grade graphite resource base and to generate further graphite concentrate to provide to potential offtakers.”
You can view an August 2022 Metals Australia update video here.
Sovereign Metals [ASX:SVM] [GR:SVM][LSE:SVML] (OTCPK:SVMLF) – Plan to demerge graphite assets to a 100% owned subsidiary NGX Limited
On January 31 Sovereign Metals announced: “December 2022 quarterly report… Sovereign to demerge standalone graphite projects
- “Sovereign plans to demerge its standalone Graphite Projects (being the Nanzeka, Malingunde, Duwi and Mabuwa Projects) into a 100%-owned subsidiary, NGX Limited, then do an in-specie distribution.
- The Demerger seeks to unlock the value of the Graphite Projects for Sovereign shareholders and separate its Kasiya Rutile Project and its standalone Graphite Projects into two distinct companies.”
You can view the latest investor presentation here.
Sarytogan Graphite [ASX:SGA]
Sarytogan Graphite has a 209mt @ 28.5% TGC Inferred Resource (60mt contained graphite) in Central Kazakhstan.
No significant news for the month.
Evion Group NL [ASX:EVG] – (Formerly BlackEarth Minerals [ASX:BEM])
On January 17 Evion Group NL announced: “Highly successful quarter positions Evion to be key graphite supplier to lithium battery industry. Evion advances strategy to mine graphite, sell concentrate and supply battery anode material.” Highlights include:
Project Highlights
- “During the Quarter, the Company completed and published its Definitive Feasibility Study (“DFS”) for its wholly owned Maniry Project.
- The DFS demonstrates compelling financial returns and found the graphite produced will be suitable for a range of value-added products, including the EV industry.
- The DFS also supports Madagascar as an optimal location for graphite processing with recent reports indicating that Madagascar has the potential to be the largest producer of graphite outside China.
- Detailed Environmental & Social Impact Study (ESIA) program is underway with completion due in the short term – the ESIA will underpin final Mining Licence approvals.
- Development of Expandable Graphite JV in India gains momentum as tenders for long lead items are considered with commissioning planned for mid-2023.”
Corporate Highlights
- “…the Company changed its name to Evion Group NL (ASX:EVG).
- During December 2022, the Company signed a non-binding Offtake Agreement with Urbix Inc., (Urbix) to supply 15,000 metric tonnes per annum of product from its Maniry Plant immediately upon the commencement of production, scheduled for Q4 2024.
- The partnership with Urbix will expand to include a range of testing and other development initiatives. These, together with the supply agreement, perfectly position Evion to become a major contributor in the EV and alternative green energy sectors.
- Independent tests further established that Evion’s Maniry product is highly suitable for lithium-ion batteries…
- Subsequent to the Quarter ended, the Company delivered the BAM Scoping Study. The Scoping Study reveals a BAM plant in Europe validates Evion’s Maniry product is highly suitable for lithium-ion batteries and will generate robust returns. This study is a precursor to a Pre-feasibility Study.
- The Company held cash reserves of $2.37m as at 31 December 2022 and is due a R&D tax credit of circa $600,000 in the current quarter.“
Zentek Ltd. [TSXV:ZEN] (ZTEK)
On February 6 Zentek Ltd. announced: “Zentek announces final results of HVAC Phase 2 testing…”
On February 15 Zentek Ltd. announced:
Zentek and 1329307 BC Ltd. Sign Letter of Intent to spin out Albany Graphite Deposit…“With significant production shortfalls anticipated in the next decade, and the limited number of producing mines and graphite deposits in geopolitically stable countries, the importance of North American graphite and our Albany Deposit is growing by the day,” said Greg Fenton, CEO of Zentek. “Amidst this backdrop, we believe our strategy of using a separate entity to move Albany forward and pursuing funding directly for it gives us a compelling pathway to help unlock the value of our wholly-owned deposit for shareholders in the near and longer term.”
Other graphite juniors
Armadale Capital [AIM:ACP], DNI Metals [CSE:DNI] (OTC:DMNKF), Eagle Graphite [TSXV:EGA] [GR:NJGP] (OTC:APMFF), Elcora Advanced Materials Corp. [TSXV:ERA] (OTCPK:ECORF), Electric Royalties [TSXV:ELEC], Graphite One Resources Inc. [TSXV:GPH] [GR:2JC] (OTCQX:GPHOF), Green Battery Minerals Inc. [TSXV:GEM] (OTCQB:GBMIF), Infinity Stone Ventures [CSE:GEMS] (OTCQB:GEMSF), International Graphite [ASX:IG6], New Energy Metals Corp. [ASX:NXE], Volt Resources [ASX:VRC] [GR:R8L], South Star Battery Metals [TSXV:STS] (OTCQB:STSBF), Walkabout Resources Ltd [ASX:WKT].
Synthetic Graphite companies
- SGL Carbon (ETR:SGL)
- Novonix Ltd [ASX:NVX](OTCQX:NVNXF)
Graphene companies
- Archer Materials [ASX:AXE]
- Black Swan Graphene Inc. [TSXV:SWAN]
- Elcora Advanced Materials Corp. [TSXV:ERA](OTCPK:ECORF)
- First Graphene [ASX:FGR] (OTCQB:FGPHF)
- Graphene Manufacturing Group Ltd [TSXV:GMG]
- NanoXplore Inc. [TSXV:GRA] (OTCQX:NNXPF)
- Strategic Elements Ltd [ASX:SOR]
- Zentek Ltd. [TSXV:ZEN] (ZTEK)
Conclusion
February saw slightly lower flake graphite prices and slightly lower spherical graphite prices.
Highlights for the month were:
- BMI: Demand for graphite from the battery anode segment could increase by seven times in the next decade.
- Top producing countries are China, Madagascar, and Mozambique.
- GreenRoc wins European Raw Materials Alliance (ERMA) support for Amitsoq graphite project in Greenland.
- Syrah Resources construction of the 11.25ktpa AAM Vidalia facility advancing, targeted start of production in the September 2023 quarter.
- Tirupati Graphite production capacity reaches 30,000tpa with commissioning of new 18,000tpa facilities at their Sahamamy Project in Madagascar.
- Northern Graphite signs agreement to acquire ownership interest in NeoGraf Solutions.
- NextSource Materials construction of the processing plant for the Molo Graphite Mine is complete and fast approaching first production.
- Talga successfully completes A$40million institutional placement.
- Magnis signs Offtake Agreement for North American anode active material with Tesla beginning Feb. 2025.
- Gratomic announces LOI with Graphex Technologies to produce natural graphite anode material.
- Lomiko Metals’ La Loutre Graphite Pre-Feasibility Level Flotation Optimization Studies produce consistent high-grade flotation concentrates grading up to 99.7% C.
- Metals Australia – High-quality spherical graphite has been produced & the final stage of purification, targeting “battery grade”, is nearing completion.
- Zentek and 1329307 BC Ltd. Sign Letter of Intent to spin out Albany Graphite Deposit.
As usual all comments are welcome.
Editor’s Note: This article discusses one or more securities that do not trade on a major U.S. exchange. Please be aware of the risks associated with these stocks.