Meeting the Graphite Demand Curve

PERSPECTIVES No.16  |  August 4, 2026

The shape of global graphite demand is changing.

As governments race to establish secure critical-minerals supply chains, graphite is taking the spotlight for its central role in applications ranging from lithium-ion batteries and energy storage to advanced manufacturing and national security. It is an essential material in defence systems including aircraft, submarines, missiles, artillery and military vehicles.

Demand from established industrial applications, from steelmaking to automotive manufacturing, electronics and friction products, remains substantial. At the same time, growth in batteries and other emerging markets is creating a much larger supply requirement. According to analysis published by Benchmark Mineral Intelligence and subsequently reported widely in mainstream media, natural graphite demand will increase by 140 percent by 2030, requiring approximately 1.7 million tonnes of additional production capacity, the equivalent of roughly 30 new mines.

Meeting that demand in a world where graphite mining and processing are dominated by China will require more than discovering new graphite deposits. The market needs reliable production that can expand as demand grows, together with new capacity to process natural graphite into battery anode material (“BAM”).

Northern Graphite is addressing both sides of that challenge through an integrated strategy spanning Canada, Namibia, Saudi Arabia and Europe.

Canada: Production Today, Capacity for Tomorrow

Northern’s Lac des Iles (“LDI”) mine in Quebec anchors the strategy in an established operation with processing infrastructure and North American customer relationships developed over more than 35 years.

Northern is working toward restarting operations at LDI and advancing a pit extension that could add as much as eight years to the mine life. As demand grows, the Company’s advanced-stage Bissett Creek project in Ontario provides an additional opportunity for relatively rapid, scalable production expansion in Canada.

Northern also plans to move further along the value chain through a BAM facility in Baie-Comeau, Quebec. Designed to expand in line with market demand, the facility would process graphite from Canadian mines and serve battery and energy-storage customers in North America and global markets.

Together, LDI, Bissett Creek and Baie-Comeau provide the foundation for a Canadian mine-to-market supply chain.

Namibia: Scalable Supply for Growing Markets

Northern’s Okanjande mine in Namibia represents the next potential source of production growth.

The fully permitted, former-producing mine has a large battery-grade graphite resource and the potential for modular expansion to substantially higher production levels. Northern has completed the relocation of processing equipment to the mine site and is targeting a restart in late 2027, subject to financing.

Initial production is expected to supply Northern’s planned BAM facility in Yanbu, Saudi Arabia. As Okanjande expands, it is also intended to provide feedstock for the Company’s planned BAM facility in France, creating a dedicated supply chain serving European battery markets.

With access to the deep-water port at Walvis Bay, Okanjande is well positioned to connect scalable African mine production with value-added processing in the Middle East and Europe.

A Replicable Model for Battery Materials

In Saudi Arabia, Northern and Obeikan Investment Group are advancing plans for a US$200 million BAM facility in Yanbu. Forecast to begin production as early as 2028, the plant would process Okanjande graphite into higher-value battery material while taking advantage of Saudi Arabia’s industrial infrastructure, strategic location and financing ecosystem.

Yanbu is also intended to provide the technical, commercial and financing blueprint for Northern’s future BAM facilities in Baie-Comeau and France.

The Baie-Comeau facility would support North American and global markets using graphite from Northern’s Canadian assets. In France, Northern’s planned facility, which has been designated a Strategic Project under the European Union’s Critical Raw Materials Act, would process graphite from Okanjande for European battery makers.

The result is a flexible, regionally diversified model: mines capable of expanding as demand develops, connected to scalable BAM facilities serving the world’s major battery markets.

The graphite demand curve will not be met by mines or processing plants alone. It will require reliable resources, expandable production and value-added capacity, connected by a coherent strategy.

Northern Graphite stands ready to partner with western governments to realize a key aspect of their critical mineral strategies by providing secure access to ex-China graphite.

Let’s Make it Happen!