Graphite will come from the company’s Molo mine in Madagascar and the processed product will be shipped from Port Louis, the country’s capital located in the freeport zone.
The quest to bring graphite projects to fruition has become more urgent since China announced in October it will require export permits for the kind of graphite used for electric vehicle batteries.
African-mined graphite could help the car industry meet requirements under Washington’s Inflation Reduction Act, which encourages auto makers to be less reliant on Chinese components.
Growing demand for lithium-ion batteries is expected to boost graphite consumption, according to the US Geological Survey. The raw material is the primary ingredient used in the production of EV batteries by weight. It amounts to over half of every battery and more than 95% of a battery’s anode.
“Graphite demands are on…
