Graphite Stocks

POSCO Future M is a Korea Exchange-listed producer of battery and industrial materials within the POSCO group. Its graphite business supplies natural and synthetic anode materials to battery manufacturers, alongside a separate cathode-material business. It operates natural-graphite anode plants at Sejong and an artificial-graphite plant at Pohang in South Korea. The company approved a phased synthetic-graphite anode plant in northern Vietnam in March 2026, with mass production targeted for 2028. That project expands its planned overseas manufacturing footprint; its operating Korean plants remain the basis of current anode production.

Nouveau Monde Graphite is a Canadian developer building the Matawinie natural-graphite mine in Québec and planning a downstream battery-material plant at Bécancour. The company is listed on the Toronto and New York stock exchanges. Matawinie construction was underway in the second quarter of 2026 after the company assembled an equity financing package and confirmed its mine investment decision. The proposed first commercial stage at Bécancour would produce 13,000 tonnes of battery material annually. It remains subject to a separate investment decision, targeted for the second half of 2026, and its own funding process. The mine and downstream plant are at different stages of development.

Sovereign Metals is an ASX- and AIM-listed developer of the Kasiya rutile and graphite project in Malawi. It plans to recover natural rutile and flake graphite from the same near-surface deposit. The March 2026 ore reserve estimate, published with the definitive feasibility study on 16 April 2026, totals 536 million tonnes of proved and probable ore at 0.95% rutile and 1.56% total graphitic carbon, on a gross project basis.

Kasiya remains a proposed mine, with development dependent on approvals, financing and execution. Sovereign owns the project through its Malawi subsidiaries. The April 2026 study identified the government’s right to a negotiated equity interest under the mining legislation; it did not set a final state-ownership percentage. Graphite would be a co-product alongside rutile.

NanoXplore is a Toronto Stock Exchange-listed manufacturer of graphene and advanced materials based in Montréal. Its operating business produces graphene powder, graphene-enhanced plastics and composite components for transportation and other industrial customers. Its wholly owned VoltaXplore business develops silicon-graphene-enhanced lithium-ion battery cells. Battery development is separate from the group’s established industrial manufacturing revenue. NanoXplore offers exposure to graphene products and their commercial adoption, with additional battery-technology development, rather than ownership of a graphite mine.

Syrah Resources is an ASX-listed graphite company linking the Balama mine in Mozambique with the Vidalia anode-material facility in Louisiana. It owns 95% of Balama, whose concentrator has nameplate capacity of about 350,000 tonnes a year. Production has been organized in campaigns in response to customer demand and inventory levels. Vidalia is designed to process Balama concentrate into battery anode material, with initial nameplate capacity of 11,250 tonnes annually. In its July 2026 update, Syrah was still completing customer qualification and targeting commercial sales. Financing proposals involving US agencies and AustralianSuper remained subject to further agreement and conditions.

GrafTech International is a New York Stock Exchange-listed manufacturer of synthetic-graphite electrodes used in electric-arc-furnace steelmaking. Its Seadrift operation in Texas supplies petroleum needle coke, a key electrode feedstock. The group manufactures electrodes in France, Spain and Mexico. On August 31, 2026, it announced plans to close the Monterrey plant, with production expected to conclude early in the second quarter of 2027 and customer supply moving to Calais and Pamplona. St. Marys in Pennsylvania provides machining and distribution services while its electrode production remains idle. GrafTech’s established business serves metallurgical customers; battery-related carbon applications are a separate area of development.

Graphite One is a TSX Venture-listed developer of the Graphite Creek natural-graphite project near Nome, Alaska, and a proposed battery-material manufacturing site in Conneaut, Ohio. The Alaska project would supply natural graphite concentrate, while the Ohio development includes plans for synthetic graphite and subsequent natural-graphite products. The company secured the Ohio site and advanced engineering during 2026. In July, its air permit application passed administrative review and moved into technical assessment. Both projects remain under development, with further permitting, financing and construction required before commercial production.

Falcon Energy Materials is a TSX Venture-listed developer based in Abu Dhabi, formerly known as SRG Mining. It is pursuing a graphite anode-material plant at Jorf Lasfar in Morocco, with plans to use third-party concentrate as well as potential future feed from the Lola project in Guinea. Lola is subject to a title dispute following a Guinean revocation decree in May 2025. Falcon commenced international arbitration in March 2026 seeking compensation for alleged expropriation. On 9 July 2026, Falcon opened its pilot plant near Casablanca, with commissioning underway to produce customer-qualification samples. The separate commercial anode plant remains a development project.

Talga Group is an ASX-listed developer of an integrated graphite mine and anode-material project in northern Sweden. Its plan links the Nunasvaara South mine near Vittangi with a refinery at Luleå producing its Talnode-C battery material. The proposed first commercial refinery line would produce 5,000 tonnes annually, with staged expansion toward 24,500 tonnes. Talga’s July 2026 update targeted an investment decision in early 2027. A non-binding letter of intent with Hanwa and public funding commitments support the development process, while commercial production remains prospective.

Renascor Resources is an ASX-listed developer of the Siviour graphite project in South Australia. It plans to combine a mine and concentrator on the Eyre Peninsula with a downstream purified spherical graphite facility at Bolivar, near Adelaide. The ore reserve estimate announced on 24 August 2023 included a proven component of 16.8 million tonnes at 8.2% total graphitic carbon; that component is not the total proven and probable reserve. A separate demonstration facility began processing graphite in June 2026 and opened in July. Its role is to test and demonstrate the purification process and supply material for customer evaluation. The planned commercial mine and downstream operation remain development projects, supported by a conditional Australian government loan facility.

EcoGraf is an ASX-listed developer combining the Epanko natural-graphite project in Tanzania with graphite shaping, purification and recycling technology. It holds 84% of Epanko through its Tanzanian project structure, with the government holding 16%. Epanko’s mineral resource estimate announced on 11 March 2024 totals 290.8 million tonnes at 7.2% total graphitic carbon, including inferred material. The company is arranging development financing and advancing its HFfree purification process and customer qualification work. Commercial mine and downstream capacity remain planned, with the financing process and a September 2026 share purchase plan supporting further development.

Quantum Graphite is an ASX-listed developer of the Uley graphite assets on South Australia’s Eyre Peninsula. Its July 2026 quarterly report reaffirmed a November 2019 Uley 2 ore reserve of approximately 4.0 million tonnes at 11.89% total graphitic carbon.

A binding agreement announced on 12 June 2026 makes Sunlands Pure Group the exclusive buyer of Uley mine production for an initial 20-year term. The structure places downstream processing and refining within Sunlands Pure, with a proposed processing plant near Uley and refinery at Al Buraimi in Oman. Those facilities are development plans, not operating capacity owned outright by Quantum.

The 30 July 2026 report said front-end engineering had begun and Oman environmental authorisations had been granted. The site-management agreement remained under negotiation and project financing was being structured. Uley remains a development project.

NOVONIX is an ASX- and Nasdaq-listed battery-materials company developing synthetic graphite production at Riverside in Chattanooga, Tennessee. It manufactures graphite from carbon feedstocks for use in lithium-ion battery anodes and also operates a battery-testing technology business. Riverside is producing qualification material for battery customers, with commercial mass production targeted for the second half of 2027. Proposed expansion and government financing arrangements remain subject to their respective conditions. The Nasdaq security is an American depositary share representing 40 ordinary shares following an August 2026 ratio change; the selected ASX line represents ordinary shares.

Westwater Resources is a NYSE American-listed developer of the Kellyton graphite-processing plant and Coosa graphite deposit in Alabama. Kellyton is designed to make battery anode material, initially using purchased feedstock, with Coosa intended as a future domestic source. Coosa’s indicated mineral resource estimate, effective 30 November 2022, is approximately 26 million short tons at 2.89% graphitic carbon. A qualification line supplies material for customer trials while the main plant remains under development. In August 2026, the US Export-Import Bank approved a US$25 million loan, subject to final documentation and conditions. FCA US, part of Stellantis, terminated its offtake agreement on 3 November 2025, and SK On terminated its procurement agreement on 31 March 2026. Westwater is pursuing other customers and supplying qualification samples. Commercial plant completion still depends on financing and execution.

Zentek is a TSX Venture-listed technology company developing graphene-based coatings and materials, alongside aptamer-based therapeutic technology through Triera Biosciences. Its graphene applications include antimicrobial and corrosion-resistant products. The company also owns the Albany hydrothermal graphite project in Ontario through Albany Graphite Corp. Albany remains undeveloped; an August 2026 preliminary economic assessment examined ultra-high-purity graphite for specialty markets. Its June 2026 US joint venture is 90% owned by Zentek USA and focuses on commercial development of Albany graphite. The Albany deposit remains in the wholly owned Albany Graphite Corp. Zentek’s exposure combines technology commercialization with a graphite development asset; it is not an operating graphite miner. Nasdaq trading was suspended on 2 September 2026; US quotation moved to OTCQX under ZTEKF, while TSXV:ZEN continued.

Blencowe Resources is a London Stock Exchange Main Market-listed developer of the Orom-Cross natural-flake graphite project in northern Uganda. It owns the project and holds a mining licence covering its planned development. A May 2026 update reported a mineral resource of 64.3 million tonnes at 6.03% total graphitic carbon. The company completed a definitive feasibility study in December 2025 and updated its commercial model in May 2026. It is advancing project financing, processing testwork and customer evaluation for concentrate and downstream products. Orom-Cross remains a pre-production development.

NextSource Materials is a TSX-listed graphite producer operating the Molo mine in Madagascar and developing an anode-material facility in Abu Dhabi. Molo produces natural-flake concentrate through periodic campaigns; the proposed larger mine expansion is separate from current operations. In May 2026, NextSource approved the first UAE facility stage subject to financing conditions and staged funding gates. A July feasibility study assessed expansion of Molo to 150,000 tonnes annually, but no production decision for that expansion had been made. The study also disclosed potential Malagasy state participation, whose project-specific percentage remained undetermined.

Leading Edge Materials is a Canadian-listed developer of European mineral assets. Its graphite exposure is the Woxna mine and concentrator in Sweden, an existing facility currently on care and maintenance while the company considers restart and downstream processing options.

The portfolio also includes the Norra Kärr rare-earth project in Sweden and exploration at Bihor Sud in Romania. These projects make the company diversified across critical minerals. Woxna’s infrastructure provides a potential route back to production, but a restart remains dependent on an executable operating and financing plan.

Greenwing Resources is an ASX-listed explorer and developer with graphite exposure through the Graphmada complex in Madagascar. Graphmada has produced natural-flake concentrate in the past and is on care and maintenance while the company evaluates further development.

Its June 2026 tenement schedule records a 45% interest in the San Jorge lithium-brine permits in Argentina, with options to acquire up to 100%. Greenwing also holds the Que River polymetallic project in Tasmania. The portfolio combines several commodities, with a future Graphmada restart dependent on technical work, financing and a development decision.

Focus Graphite is a TSX Venture-listed developer of the Lac Knife and Lac Tétépisca graphite projects in Québec. Work at Lac Knife focuses on environmental assessment, permitting and infrastructure planning for a proposed natural-flake graphite mine. A May 2026 update enlarged the reported resource at Lac Tétépisca, which is a separate development asset. The company also carries out graphite processing and qualification work for prospective customers. Neither project is an operating commercial mine.

LE Minerals, formerly Lithium Energy, is an ASX-listed exploration company with graphite exposure through the Burke, Mt Dromedary and Corella projects in Queensland. The projects are held through Axon Graphite. On 26 May 2026, it agreed to sell the graphite projects to M Battery Materials for A$5 million in cash and A$15 million in buyer shares. The 29 July 2026 update continued to describe the proposed sale, which remains conditional on the buyer’s proposed ASX flotation and relevant shareholder approvals, including distribution of the consideration shares. LE Minerals also pursues exploration outside graphite.

South Star Battery Metals is a TSX Venture-listed company operating the first modular phase of the Santa Cruz graphite project in Bahia, Brazil. The plant produces natural-flake concentrate and the company announced its first commercial purchase order after customer qualification on 7 August 2026. The order followed sample shipments and covered 36 tonnes, with dispatch still being arranged at that announcement date. South Star plans further Santa Cruz expansion and also has a graphite development interest at BamaStar in Alabama. The initial Santa Cruz operation is much smaller than its proposed expanded capacity, with later stages dependent on development execution and financing.

Black Rock Mining is an ASX-listed developer with an 84% interest in the Mahenge natural-flake graphite project in Tanzania. The Tanzanian government holds the remaining 16% through the project structure. As at 30 June 2025, Mahenge had a reported mineral resource of 213.1 million tonnes at 7.8% total graphitic carbon and a probable ore reserve of 70.5 million tonnes at 8.5%. These are gross project estimates; Black Rock holds 84%. Mahenge is planned as a staged mine and concentrator development. The company has progressed preparatory work and financing discussions, including a July 2026 extension of the financial-close deadline to 30 November 2026. Main project construction remains dependent on completing funding arrangements and an investment decision.

Lincoln Minerals is an ASX-listed explorer focused on South Australia’s Eyre Peninsula. Its current exploration program emphasizes copper and base metals at Minbrie, including the Eagle Ridge prospect.

The company also retains the Kookaburra graphite development project. Kookaburra has been the subject of a pre-feasibility study and purification testwork, and Lincoln has entered a collaboration to assess potential graphite uses in reactor moderator materials. Kookaburra remains undeveloped. Lincoln reported no work on the project during the June 2026 quarter; the collaboration has not established a commercial reactor-material supply business.

GCM Corporation, formerly Green Critical Minerals, is an ASX-listed developer of graphite products and mineral assets. Its 31 July 2026 quarterly report records an 80% earn-in stake in the McIntosh graphite project in Western Australia. The 9 March 2026 interim report disclosed that litigation with NH3 Clean Energy had prevented execution of the formal joint venture agreement.

GCM also manufactures very high density graphite products for thermal management in electronics and data centres. It reported initial DigiKey product revenue in the June 2026 quarter, although sales were not yet financially material. A June 2026 joint development agreement with ALVC covers combining GCM heat sinks with ALVC vapour chambers. Customer qualification and product development continue alongside the undeveloped mineral project.

E-Power Inc., formerly Sunrise New Energy, is a Nasdaq-listed holding company with interests in Chinese graphite anode-material operations. Its businesses manufacture synthetic graphite material for lithium-ion battery customers in Guizhou and Anhui. Its 2025 annual report lists approximately 39.35% company equity interests in Sunrise Guizhou and Sunrise Anhui, plus 1.45% held through its variable-interest entity. That contractual interest is distinct from direct equity ownership. Consolidated plant and revenue figures are therefore not wholly attributable to the listed company’s shareholders. Graphite anode materials generated almost all reported revenue in 2025. The annual report disclosed substantial doubt about the group’s ability to continue as a going concern. The company announced a move toward AI data-centre microgrid solutions in 2026, while graphite remained its established revenue business.

Sarytogan Graphite is an ASX-listed developer of the Sarytogan microcrystalline graphite deposit in Kazakhstan. The mineral resource update announced on 16 February 2026 reported 225 million tonnes at 29.2% total graphitic carbon. Its mineral texture differs from the flake deposits held by most natural-graphite developers. A 2024 pre-feasibility study assessed a staged operation producing industrial graphite and higher-purity products. The company is advancing further drilling, process development and a definitive feasibility study. Mining and commercial processing remain prospective.

Northern Graphite is a TSX Venture-listed company with graphite mining assets in Canada and Namibia and battery-material development in Europe. Lac des Îles in Québec entered care and maintenance in November 2025. An August 2026 update said its restart remained delayed by mining-lease issues, financial constraints and market conditions. Okanjande in Namibia is also on care and maintenance. Processing equipment has been relocated to the mine site toward a proposed late-2027 restart, subject to financing. The group’s Frankfurt laboratory develops and qualifies anode materials separately from those mine restart plans.

GreenRoc Strategic Materials is an AIM-quoted developer of the Amitsoq natural-graphite project in southern Greenland. A 30-year exploitation licence was awarded on 8 December 2025. Mine studies, environmental and social assessments, and a downstream anode-material processing strategy remain in development. The company also operates a pilot facility in Denmark for graphite shaping and process development. Pilot material supports technical work and customer evaluation, while the proposed mine and commercial anode facility remain development projects.

International Graphite is an ASX-listed processor and developer with graphite activities in Western Australia and a planned Italian processing venture with Alkeemia. The JV agreement provides for IG6 to hold 49%, with profits shared equally. Its Collie qualification facility produces material for process development and customer testing. The company is constructing a separate commercial micronizing plant at Collie, with a first-stage capacity of 4,000 tonnes a year and mechanical completion targeted for the second quarter of 2027. Initial feed would be purchased concentrate. Its Springdale graphite deposit near Hopetoun is a separate potential long-term source that remains undeveloped.

Total Graphite, formerly Tirupati Graphite, is a London-listed graphite company with mines in Madagascar and development assets in Mozambique. Vatomina produced graphite during the year ended March 2026 before operations were paused for drilling and plant optimization. Sahamamy is also on care and maintenance. A July 2026 update targeted a Vatomina restart from January 2027 at more than 1,000 tonnes a month. That timetable remains prospective while optimization and resource work continue. The group’s Mozambique assets provide additional development exposure rather than current production.

Graphex Group is a Hong Kong-listed group with graphite-related products, landscape architecture services and an electric-vehicle business. Graphene products accounted for approximately 64% of revenue in the first half of 2026, with landscape architecture contributing about 32% and electric vehicles about 4%. The company has pursued graphite processing and anode-material development in China and the United States. The company described the proposed US subsidiary disposal in its circular dated 29 January 2026, and shareholders approved it on 20 March 2026. Interim results released on 28 August 2026 said completion remained pending the buyer’s approval procedures.

Triton Minerals is an ASX-listed explorer with a retained 30% interest in the joint venture companies holding its Mozambique graphite assets, including Ancuabe. NQM Gold 2 acquired the majority interest under a transaction that had been delayed by payment disputes. Triton also pursues the Aucu gold-copper project in Mozambique.

On 20 August 2026, Triton confirmed receipt of the final A$5.5 million consideration, following the share transfers reported the previous day. It instructed its legal advisers to discontinue the related Western Australian proceedings. Its graphite exposure is now through the minority joint venture interest, alongside its gold and copper exploration activities.