“In order to ensure increased, stable production in 2025 and beyond that can keep up with rising market demand, we have decided to move forward the timeframe for a maintenance and repair shutdown,” CEO Hugues Jacquemin said in a release.
“Lac des Iles has the potential to produce more and for longer than anticipated when we acquired the mine in 2022,” he said. “We need to prepare as we look to open a new pit and increase throughput at the mill.”
China’s, the leading producer of graphite used in electric vehicle batteries, said in November last year it was curbing exports of the material. The Asian giant produces and processes most of the world’s graphite supplies.
Shares in Northern Graphite fell 4% on Monday afternoon to C$0.11 apiece, valuing the company at C$13.8 million.
Every day operation
The restart is planned for Jan. 6. During the closure, Northern will supply customers from inventories and from third…
