China rattled that market when it announced late last year it will require export permits for some graphite products in another bid to control critical mineral supply in response to challenges over its global manufacturing dominance.
China is the world’s top graphite producer and exporter. It also refines more than 90% of the world’s graphite into the material that is used in virtually all electric vehicle (EV) battery anodes.
There is only one graphite mine currently of significance in North America, Lac des Iles mine in Quebec, which is becoming depleted.
While there is a need for 200,000 tonnes of graphite to meet demand, the reality is, the current US supply capability is zero.
NMG aims to raise $1.2 billion to build its whole project, which it is advancing in three phases, with $725 million coming from debt and $475 million from equity. Its goal is to become North America’s first fully integrated source of natural…
