The global graphite resource base has significantly expanded, with over 3.7 billion tonnes added in recent years from regions spanning Alaska to Australia. The European Advanced Carbon and Graphite Materials Association (ECGA) estimates worldwide identified resources contain over 350 million tonnes of graphite. Despite a growing number of graphite mines under development across multiple continents, China remains the dominant supplier, accounting for approximately 70% of global production. Brazil, Canada, India, North Korea, Mozambique, and Tanzania collectively contribute to the remaining 30% of the market.
Benchmark Mineral Intelligence forecasts a 140% surge in natural graphite demand by 2030, necessitating the development of an estimated 30 new natural graphite mines and 12 new synthetic plants globally. E-Power Resources, a Canadian exploration company, aims to contribute to this supply with its Tetepisca Flake Graphite Project in Québec. E-Power Resources’ mission is to provide graphite now, focusing on easily mined graphite suitable for manufacturing needs. Graphite One, another North American company, is focused on developing its Graphite Creek Project in Alaska to boost the US graphite supply chain.
Competition within the graphite market remains intense, with China striving to maintain its dominance. The International Energy Agency (IEA) projects the global graphite market to grow from US$8.32 billion in 2025 to US$13.35 billion by 2032. Western countries are concerned that China is manipulating the global market by flooding it with less expensive, heavily subsidised synthetic graphite, which is seen as an effort to eliminate foreign competition. The North American Graphite Alliance (NAGA) was formed to advocate for intervention to protect the region’s nascent graphite industry.
Northern Graphite Corporation, touted as North America’s only flake graphite producer, plans to build one of the region’s largest active anode material (AAM) plants in Baie-Comeau, Québec. The company aims to support a secure and sustainable graphite supply chain for North America as the market continues to develop. Graphite is a crucial component in lithium-ion batteries, forming almost the entire anode side. According to E-Power CEO James Cross, graphite has exceptional heat resistance, conductivity, and lubricating properties, with no substitute available for batteries.
