
May 04, 2025
Hazer Group Ltd ("Hazer" or "the Company") (ASX: HZR) is pleased to announce it has entered into a binding Alliance Agreement (the “Alliance”) with Kellogg Brown and Root LLC (NYSE: KBR, “KBR”) a global leader in technology and engineering solutions, for the commercial deployment and licensing of Hazer’s proprietary methane pyrolysis technology.
Highlights
- Binding strategic alliance with KBR (NYSE: KBR), a world-leading engineering group and global technology licensor set to supercharge Hazer’s commercialisation strategy
- Hazer is KBR’s exclusive partner for marketing and licensing of methane pyrolysis technology
- Clear revenue visibility targeting multiple license deals within 6 years, materially derisking Hazer’s business plan
- Capital-lite licensing model maintained; KBR A$3million work program contribution preserves Hazer’s robust funding position
- Strengthens Hazer’s market penetration into high-growth market segments of ammonia and methanol, and regions including North America and Middle East
- CEO Glenn Corrie and other members of the management team will be hosting a webinar on Wednesday, 07 May 2025 at 09:00am (AWST) / 11:00am (AEST). Details provided below
KBR – A Global Leader in Technology Licensing
KBR is a world-renowned engineering and technology company delivering engineering and cutting-edge technology licensing solutions to companies and governments across energy, chemicals, infrastructure and defence. KBR has licensed over 260 grassroots ammonia plants since 1943. Over 50% of the world’s ammonia is produced using KBR’s ammonia process.
KBR also brings a strong track record in commercialising breakthrough industrial technologies. Notable partnerships include ExxonMobil for next-generation catalyst development, and Mura Technology (including a US$100 million strategic investment) to scale its proprietary plastic recycling solution world-wide.
Under the Alliance, KBR will be Hazer’s exclusive global partner for the marketing, licensing and deployment of Hazer technology to customers in the ammonia and methanol markets. KBR and Hazer will also work closely to pursue licensing opportunities in decarbonizing hydrogen markets beyond these exclusive markets.
KBR’s President Sustainable Technology Solutions, Jay Ibrahim, said: “KBR's proven global expertise in deploying sustainable technology solutions complements Hazer's leading methane pyrolysis technology, making us ideal partners. Our market assessment and due diligence have highlighted Hazer's potential to decarbonize the global ammonia and methanol sectors. We are excited to partner with Hazer to provide a compelling low- carbon hydrogen production solution to meet growing global demand."
Hazer’s CEO and Managing Director, Glenn Corrie, said: “We are excited to be joining forces with KBR to commercialise Hazer’s world-leading clean hydrogen technology on the global stage. This is a transformational transaction for Hazer coming at a critical time when the world urgently needs affordable, low-emissions hydrogen to decarbonise legacy hard-to-abate industries. Building on the momentum of our successful Commercial Demonstration Plant and technology test program, which laid the foundations of commercialisation last year, this partnership represents a strong endorsement and the next logical step in delivering on our strategic roadmap and unlocking long-term value for shareholders.
KBR has the scale, capability and reputation to help accelerate the deployment of Hazer’s technology at industrial scale. We see immediate potential in the ammonia and methanol sectors – industries with significant CO2 footprints and strong demand for clean alternatives. KBR’s market leadership, global reach and execution strength make them an ideal partner to bring our vision to life.”
Strategic Alliance to Commercialise Hazer’s Leading Methane Pyrolysis Technology
Under the Alliance, Hazer and KBR will collaborate on the up-scaling, marketing and licensing of the Hazer technology for commercial deployment.
Under the terms of the agreement, KBR will be Hazer’s exclusive licensing partner for the ammonia and methanol markets while working closely in other hydrogen sectors. The initial term of the Alliance is six (6) years with an option to extend subject to the achievement of performance metrics. The parties have agreed to collaborate on the development of a design package for Hazer facilities targeting hydrogen capacities of 50,000+ tonne per annum as well as the global sales, marketing and licensing of Hazer’s technology. Hazer will be KBR’s exclusive methane pyrolysis technology provider.
The total cost of the Alliance work program is anticipated to be in the range A$3.0-5.0 million of which KBR will contribute approximately A$3.0 million over the work program period. The Alliance is underpinned by performance objectives with a target of securing multiple firm licensing opportunities during the initial term.
In respect of royalty and licensing fee sharing, the Company will keep the market informed as license arrangements are signed. Hazer’s pre-existing portfolio and opportunity pipeline is not subject to the terms of the Alliance. An incentive structure applies in the event KBR secures a license for the first commercial unit secured within three years. There is no financial impact at this stage as no client agreements are in place.
In other terms, the agreement can terminate if licensing performance metrics are not met. Hazer retains full ownership of its existing intellectual property. The agreement otherwise contains terms customary for an arrangement of this kind.
Click here for the full ASX Release
This article includes content from Hazer Group Ltd, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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24 July
NextSource Materials
Investor Insight
NextSource Materials is an emerging leader in the global battery materials sector, backed by a world-class graphite resource and proven technology to produce high-performance anode material. With a focus on full vertical integration, the company is strategically positioned to supply critical materials essential to the global clean energy transition.
Overview
NextSource Materials (TSX:NEXT, OTCQB:NSRCF) is a Canadian-based battery materials development company focused on becoming a vertically integrated global supplier of critical minerals essential to the global clean energy transition. The company’s strategy spans the full value chain – from mining and upgrading high-quality flake graphite to producing advanced battery anode materials – positioning it as a key supplier to the rapidly growing electric vehicle (EV) and renewable energy storage markets.
NextSource’s core asset is the Molo graphite mine in Madagascar, one of the largest and highest-grade flake graphite deposits in the world. Commencing production in October 2024, the Molo mine has a resource base of more than 153 million tonnes and the exclusive source of NextSource’s trademarked SuperFlake® graphite.
Complementing the Molo graphite mine is the company’s downstream expansion through battery anode facilities (BAFs), which will convert its proprietary SuperFlake® graphite into spherical purified graphite (SPG) and coated SPG (CSPG), enabling direct supply to global battery and automotive manufacturers outside traditional Asian supply chains.
Global demand for flake graphite, valued at US$3.12 billion in 2024, is forecast to grow to US$5.48 billion by 2034, driven by a 6.1 percent CAGR. This growth is primarily fueled by the expansion of lithium-ion battery manufacturing for EVs and renewable energy systems, where graphite remains the dominant material used in battery anodes.
NextSource also owns the Green Giant vanadium project, an advanced-stage and strategically significant vanadium asset located near the Molo mine. With a large, sediment-hosted deposit suited for vanadium redox flow batteries (VRFBs), Green Giant provides additional exposure to the grid-scale energy storage market – a rapidly emerging segment of the clean energy landscape.
NextSource has assembled an impressive leadership team with a proven track record in mine operations and building shareholder value. With long-term offtake agreements in place, a scalable mine-to-anode business model, and strategic backing from Vision Blue Resources, led by former Xstrata CEO Sir Mick Davis, NextSource is positioned to deliver significant value as a secure and sustainable supplier of critical battery materials.
Company Highlights
- Molo Graphite Project: The Molo graphite project in Madagascar is among the world’s largest and highest-quality graphite resources and is the exclusive source of SuperFlake® graphite.
- First Commercial Shipments Completed: SuperFlake® shipments have been to multiple end-users and approved for high-demand applications for flake graphite, including battery anodes, refractory and graphite foils for fire retardants and consumer electronics.
- Long-term Offtake Agreements: One of the few graphite producers globally to secure long-term sales agreements with tier one partners, including a 20,000 tpa agreement with a leading Japanese trader that supplies intermediate anode material to the Japanese market, and a 35,000 tpa agreement with thyssenkrupp Materials Trading GmbH for SuperFlake® graphite concentrate.
- Mine Expansion Planned: With anticipated volume demands expected to quickly outgrow its Phase 1 volume capacity, NextSource updated its operational strategy to utilize Phase 1 for campaign production to focus on development of its Phase 2 mine expansion.
- Downstream Value-add Expansion: The company is executing a phased rollout of battery anode facilities to produce spherical purified graphite and coated SPG at commercial scale. These facilities will supply high-performance anode material directly to battery and automotive manufacturers outside traditional Asian supply chains.
- Strategic Shareholder Support: Vision Blue Resources, a battery materials investment fund led by former Xstrata CEO Sir Mick Davis, is NextSource’s corner-stone shareholder. Sir Mick Davis also serves as NextSource’s chairman, bringing decades of mine development and operational leadership to the company.
- Vanadium Exposure: NextSource also holds the Green Giant vanadium project in Madagascar, an advanced-stage NI 43-101 resource and one of the world’s largest known sedimentary vanadium (V2O5) deposits.
Key Projects
Molo Graphite Mine and Project
NextSource’s flagship Molo graphite project ranks as one of the largest-known and highest-quality flake graphite deposits in the world. The property spans more than 62.5 hectares, sits in the Tulear region of Southwestern Madagascar, and is located 11.5 kilometers east of the town of Fotadrevo. Phase 1 of the mine is currently in operation.
NextSource has superior flake size distribution and well above the global average. The Molo asset is relatively unique for having almost 50 percent premium-priced large and jumbo flake graphite and can achieve up to 97 percent carbon purity with simple flotation alone. Molo SuperFlake® has been verified by end-users and meets or exceeds all criteria for the top demand markets for flake graphite; anode material for lithium-ion batteries, refractories, graphite foils and graphene inks.
Project Highlights
Geological and Resource Overview:
- Measured and indicated resources: 100.37 million tonnes (Mt) at 6.3 percent total graphitic carbon (C), based on a 2 percent C cut-off.
- Proven and probable reserves: 53.75 Mt at 6.2 percent C, based on a 3 percent C cut-off, including 21.33 Mt proven and 32.41 Mt probable.
- Over 300 km of continuous surface graphite mineralization has been delineated, enabling flexible, demand-driven production scale-up.
- The resource base supports more than 100 years of mine life at 17,000 tpa and 25+ years at 150,000 tpa production levels.
Operational Status:
- Phase 1 operations commenced production in October 2024, with the first commercial shipments of SuperFlake® graphite concentrate delivered to customers in Germany and the US in early 2025.
- In May 2025, NextSource transitioned Phase 1 to campaign production in order to preserve capital and prioritize the larger Phase 2 expansion, which is now the operational focus.
- Nameplate capacity for Phase 1 is 17,000 tpa, with modular Phase 2 plans targeting up to 150,000 tpa production capacity.
Strategic Sales Agreements:
- A 35,000 tpa SuperFlake® graphite offtake agreement with thyssenkrupp Materials Trading GmbH.
- A 20,000 tpa agreement with a leading Japanese trader that supplies anode material to major OEM supply chains (Tesla, Toyota).
Battery Anode Facilities
NextSource’s BAFs are value-added processing plants designed to convert smaller flake graphite into high-performance anode material, an essential component of lithium-ion batteries used in electric vehicles.
Project Highlights
Technology and Product Focus:
- Using a proprietary and proven processing technology, licensed exclusively by NextSource and currently supplying major OEMs, the BAFs will produce spherical purified graphite (SPG) and coated SPG (CSPG) through a process verified within, and currently being used by, the Tesla and Toyota supply chains.
- The CSPG production process involves micronizing flake graphite, shaping it into spheres (spheroidization), purifying it and applying a hard carbon coating to enhance durability and performance in battery applications.
Pilot to Commercial Progression:
- A pilot BAF in Mauritius successfully validated NextSource’s processing technology and facilitated advanced product qualification with Tier 1 EV and battery manufacturers.
- In 2025, the company redirected its BAF expansion focus from Mauritius to the Middle East, identifying Saudi Arabia and the UAE as ideal first locations due to favorable permitting, infrastructure, and access to global EV markets.
Strategic Plans and Economic Advantages:
- NextSource’s established technical process gives it a competitive advantage by significantly reducing the time and cost required for R&D and qualification phases.
- The modular BAF rollout strategy supports flexible scaling, with additional facilities planned for North America, Europe, and Asia to meet growing OEM demand.
- Feedstock will be sourced primarily from the Molo Mine, with provisions for qualified third-party graphite as needed.
Green Giant Vanadium Project
The Green Giant vanadium project is a 100-percent-owned, advanced-stage exploration asset located in south-central Madagascar, approximately 15 kilometers from the Molo Graphite Mine. It is one of the world’s largest known vanadium deposits and a potential future growth driver for NextSource.
Project Highlights
Resource Profile:
- NI 43-101 compliant resource of approximately 60 million tonnes, grading an average of 0.7 percent vanadium pentoxide at a 0.5 percent cut-off.
- The deposit is sediment-hosted, a rare geological profile seen in only about 5% of vanadium occurrences, and favorable for producing high-purity vanadium compounds.
Strategic Importance:
- Vanadium is a key material in vanadium redox flow batteries (VRFBs), which are emerging as a critical solution for long-duration grid-scale energy storage—a necessary component of the transition to renewable power.
- With increasing global focus on decarbonizing power systems, Green Giant provides long-term optionality in a growing adjacent market.
Development Status:
- Over US$20 million has been invested in exploration and development since acquisition in 2007.
- While currently on hold to maintain focus on graphite and anode material commercialization, the project remains a strategic asset for future energy storage market expansion.
Management Team
Hanré Rossouw - President and Chief Executive Officer, Director
Hanré Rossouw joins NextSource from his role as executive director and chief financial officer of Sasol Limited with extensive experience in the global natural resources industry over the last 25 years. A British and South African national, Rossouw has held senior positions in leading global mining and investment companies where his roles involved business development, M&A, capital markets, asset management and growth optimization.
Craig Scherba - Chief Development Officer, Director
Craig Scherba brings extensive operational and geologic experience, having discovered both the Molo and Green Giant deposits. He currently heads up development of NextSource’s downstream OEM offtake strategy and plans.
Jaco Crouse - Chief Financial Officer
Jaco Crouse brings over 20 years of experience in the global natural resources sector, with expertise in M&A, capital markets and financial strategy. He held senior positions at Glencore and Xstrata.
Brent Nykoliation - EVP, Strategy and Corporate Affairs
Brent Nykoliation joined the senior management team at NextSource Materials as vice-president in 2007 and leads strategy and corporate affairs for the company. In addition, he oversees all communications with graphite customers, institutional investors and analysts for the company.
He brings over 20 years of senior management experience, having held marketing and strategic development positions with several Fortune 500 corporations in Canada.
Dr. Tilo Hauke - EVP, Downstream Operations
Dr. Tilo Hauke leads the development of the company’s BAFs, focused on producing commercial-scale graphite anode material for lithium-ion batteries used in electric vehicles. He previously spent two decades at SGL Carbon SE, a global leader in carbon and graphite products, holding senior roles including SVP of Fuel Cell Components and Group VP of Technology and Innovation.
Danniel Stokes - VP, Special Projects
Daniel Stokes spearheads the project management aspects of the company, with significant experience across a diverse portfolio of projects in mining, infrastructure and nuclear industries.
Markus Reichardt - VP, Sustainability
Markus Reichardt is responsible for driving the company’s safety, health, environment, social, climate change and quality performance and initiatives. He has a 25-year track record in operational, senior corporate and advisory roles in the resources, agricultural and renewables sectors across the developing world.
Jean Luc Marquetoux - Country Manager
Jean Luc Marquetoux brings nearly three decades of experience in mining and project development in Madagascar and brings deep regional and governmental expertise in Madagascar.
Board of Directors
Sir Mick Davis - Chairman
Sir Mick Davis is the CEO of Vision Blue Resources and a highly successful mining executive accredited with building Xstrata plc into one of the largest mining companies in the world before its acquisition by Glencore plc.
Ian Pearce – Director
Ian Pearce is the former CEO of Xstrata Nickel, and was the former COO of Falconbridge Limited, which was acquired by Xstrata Plc in 2006. Xstrata Plc’s acquisition of Falconbridge was one of the largest mining takeovers globally and one of the largest takeover bids in Canadian history.
Brett Whalen — Director
Brett Whalen has over 20 years of investment banking and M&A expertise, spending over 16 of those years at Dundee Corporation. During his tenure at Dundee, Whalen was directly involved in completing approximately $2 billion in M&A deals and helped raise over $10 billion in capital for resource sector companies.
Christopher Kruba - Director
Christopher Kruba is vice-president and legal counsel to Nostrum Capital Corporation and several related corporations that are part of the Toldo Group.
Martina Buchhauser - Director
Martina Buchhauser is a globally recognized leader in the automotive industry, with deep expertise in sustainable mobility and the transition to low-carbon, responsible business practices. Her executive career includes senior roles in global procurement and supply chain management at General Motors, MAN, BMW, and most recently Volvo Cars.
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18 July
US Slaps 93.5 Percent Tariff on Chinese Graphite
The US government has imposed a 93.5 percent anti-dumping tariff on battery-grade graphite imports from China, targeting what officials have described as unfairly low-priced shipments.
They claim domestic producers have been undercut, and have cited concerns over critical minerals dependence.
The US Department of Commerce announced the duty on Thursday (July 17) after an investigation prompted by from US manufacturers, who argued that Chinese producers were flooding the market with underpriced graphite.
The new duty, when combined with existing countervailing tariffs, raises the total effective rate to around 160 percent, according to the American Active Anode Material Producers (AAAMP), the coalition that filed the complaint.
The move affects roughly US$347 million worth of Chinese graphite imports, according to commerce department estimates, and comes as US policymakers scramble to secure critical mineral supply chains.
“Commerce’s determination proves that China is selling [active anode material] at less than fair value into the domestic market,” Erik Olson, a spokesperson for AAAMP, said in a Thursday press release.
The department said final rulings on both anti-dumping and anti-subsidy investigations will be announced by December 5.
A separate ruling in May placed a 6.55 percent preliminary countervailing duty on most Chinese producers, but singled out Huzhou Kaijin New Energy Technology and Shanghai Shaosheng for exceptionally high rates — 712.03 percent and 721.03 percent, respectively.
Graphite's importance draws new scrutiny
While graphite rarely draws headlines like lithium or cobalt, it comprises up to 50 kilograms of every electric vehicle (EV) battery, forming the anode — a component as essential as the more widely discussed cathode.
China accounts for roughly 95 percent of global anode production, according to data from SNE Research.
Imports from China represented two-thirds of the 180,000 metric tons (MT) of graphite products shipped to the US in 2023, BloombergNEF data shows. Industry analysts say the new duties could significantly reshape market economics — especially for foreign battery suppliers that serve US automakers.
Supporters of the decision, including domestic producers and some lawmakers, argue the tariffs are a long-overdue corrective measure to level the playing field and stimulate US production.
“The decision today underscores the strategic importance of building a domestic supply chain for critical minerals, including synthetic graphite, in North America,” said Michael O’Kronley. “It affirms our business strategy as well as the diversification strategy of our customers to source critical battery materials and components locally."
O'Kronley is CEO of Novonix (ASX:NVX,NASDAQ:NVNXF), which is building one of the largest synthetic graphite facilities in North America with support from a US$750 million US Department of Energy loan.
Westwater Resources (NYSEAMERICAN:WWR), which is constructing a graphite plant in Alabama, said the ruling provides the policy clarity and market signals needed to accelerate domestic graphite production.
“These two rulings by the DOC are distinct from legislative-driven global trade tariffs,” said Chief Commercial Officer Jon Jacobs in a statement of support. “They reflect long-term support for US-based graphite production.”
The company expects to produce 12,500 MT of graphite in 2026 and ramp up to 50,000 MT annually by 2028.
Despite efforts to boost local production, US automakers and battery makers warn that domestic graphite supply remains years away from meeting commercial demand — either in scale or purity.
In filings with the commerce department, Tesla (NASDAQ:TSLA) cautioned that US producers have yet to demonstrate the technical ability to deliver the quality needed for EV batteries. Panasonic (OTC Pink:PCRFF,TSE:6752) echoed similar concerns, and both companies opposed the tariff earlier this year.
This leaves companies with a difficult choice: pay sharply higher prices for Chinese imports or risk shortages from an unproven local market.
Trade frictions add to supply chain strain
The timing complicates matters further. Just days before the US tariff announcement, China finalized new export controls on key battery technologies, including those used in lithium iron phosphate (LFP) cells — an area where China leads globally. The combination of trade restrictions on both sides is stoking fears of a wider resource standoff.
For US automakers, the downstream pressure is immediate. The tariff could wipe out up to 20 percent of the value of production tax credits under the Inflation Reduction Act, while added import costs may ripple through the supply chain.
Higher battery costs could also push EV sticker prices further upward, straining affordability and slowing adoption.
But experts caution that breaking China’s dominance in graphite will not be quick or easy. According to the International Energy Agency, developing alternative supply chains for battery materials could take years, if not decades — especially given the high purity and consistency required in EV-grade materials.
Still, supporters argue the short-term pain is worth the strategic payoff. “It’s a very strong signal that they are intent on fostering an ex-China supply chain,” Ben Lyons of Jarden told the Financial Times.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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14 July
Queensland Recognizes Graphinex’s Esmeralda Graphite Project
The Queensland Government is fast-tracking private company Graphinex’s Esmeralda graphite project with a Coordinated Project declaration.
In a July 11 statement, the government said that the declaration forms part of the Crisafulli Government’s move to partner with private companies and boost job-creating projects in Queensland.
“De-risking the delivery of projects like this through whole-of-government approval coordination is supporting more Queensland investment and creating more well-paying Queensland resource jobs,” commented Deputy Premier and Minister for State Development, Infrastructure, Local Government and Planning Jarrod Blejie.
Esmeralda is located south of Croydon and is expected to create around 233 jobs in north Queensland, 100 during construction and 133 during peak operations.
The project is said to be Queensland’s largest graphite deposit, measuring 3.5 million tonnes.
“(This declaration) streamlines approvals, cuts our development timeline by at least 12 months, and confirms the (Queensland) Government’s recognition of the project’s strategic importance to the state,” commented Graphinex Managing Director Art Malone.
According to the Queensland Treasury, Esmeralda holds a processing and testing capacity of 240 tonnes of graphite concentrate annually.
“(It) will shortcut delays associated with sending minerals overseas for testing,” the treasury highlighted.
Meanwhile, investors are responding to the Crisafulli Government’s moves, according to Minister for Natural Resources and Mines Dale Last.
“With a reported 25 million tonnes of graphite in this region – the third-largest deposit in the world – this project will help build Queensland’s critical minerals capability and strengthen domestic supply chains.”
“Investors are looking at jurisdictions that offer certainty, clarity and low sovereign risk,” he added.
Graphinex is also currently progressing a battery anode demonstration facility in Townsville, Queensland, which is set to be built in 2025.
The facility is regarded as “Australia’s first fully integrated demonstration-scale plants for processing graphite concentrate in Townsville.”
It is supported through Queensland’s Critical Minerals and Battery Technology Fund.
Environmental approval processes for Esmeralda will now commence following the declaration.
Construction for the project is set for 2027, while operations are expected towards the latter half of 2028.
Don’t forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.Keep reading...Show less
18 June
ASX Graphite Stocks: 5 Biggest Companies in 2025
Graphite isn’t just used for pencils — it's also a key lithium-ion battery component due to its high conductivity and quick-charging capacity.
This means the graphite sector could experience tailwinds from rising demand for electric vehicles and energy storage systems in the coming years.
Australian investors searching for ways to get exposure to the graphite industry can look to the ASX, which is home to a slew of companies focused on the graphite market.
When learning about an industry, it's often a good idea to start with key players. Here the Investing News Network has compiled a list of the largest graphite-focused companies on the ASX by market cap. Data was collected using TradingView's stock screener on June 12, 2025.
Read on to learn about Australia's largest graphite companies.
1. Sovereign Metals (ASX:SVM)
Market cap: AU$472.27 million
Sovereign Metals is focused on advancing on its Kasiya rutile-graphite project in Malawi.
The company believes the graphite from its project has the potential to be used to supply spherical purified graphite for the lithium-ion battery anode market. Kasiya's graphite co-product ore reserve is 538 million tonnes at 1.66 percent graphite, for 8.9 million tonnes of contained graphite.
Major miner Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) has made a series of strategic investments in Sovereign Metals of more than AU$60 million, giving it a 19.99 percent stake in the company.
With this funding and Rio Tinto's technical expertise, Sovereign is advancing Kasiya toward a definitive feasibility study (DFS). In April, the company announced that extensive geotechnical investigations are underway at key infrastructure locations at the project, which will support layout and engineering design for the DFS slated for completion in Q4 2025. An updated mineral resource estimate is expected to be out during Q2 2025.
2. Syrah Resources (ASX:SYR)
Market cap: AU$297.04 million
Syrah Resources is an industrial minerals and technology company with a vision of becoming a leading global supplier of graphite and battery anode products. The company's two main focuses right now are its flagship Balama graphite project in Mozambique and its Vidalia anode materials facility in Louisiana, US.
Syrah started production at the Vidalia facility early last year, making it the first integrated graphite processor outside of China. The plant has an annual production capacity of 11,250 tonnes of active anode material, and Syrah stated in its March 2025 quarterly report it is considering expanding Vidalia’s production capacity to 45,000 tonnes per year. The final investment decision is dependent on sales of the product and customer and financing commitments.
Syrah’s Balama operation has a projected lifespan of over 50 years, and its combined mining and processing operations allow for the production of 94 to 98 percent pure carbon graphite concentrate. The company reached a milestone in April 2024 with the sale of 10,000 tonnes of natural graphite fines from Balama to Indonesia BTR New Energy Materials.
Syrah inked a binding offtake agreement with electric vehicle maker Lucid Group (NASDAQ:LCID) in February 2025 for the supply of natural graphite active anode material from Vidalia totalling approximately 7,000 tonnes in aggregate over a three-year term kicking off at the start of 2026.
The company also has binding offtake agreements with South Korea's Posco Future M (KRX:003670), Tesla (NASDAQ:TSLA), Westwater Resources (NYSEAMERICAN:WWR) and Graphex Technologies, a wholly owned subsidiary of Graphex Group (NYSEAMERICAN:GRFX,HKEX:6128).
3. Talga Group (ASX:TLG)
Market cap: AU$181.84 million
Talga Group is a vertically integrated battery anode and materials company, meaning it mines its own graphite and also produces anodes. It has operations in Sweden, Japan, Australia, Germany and the UK.
As of June 2025, all the necessary permits are now in place for its wholly owned Nunasvaara South mine at its Vittangi anode project in Sweden, which will feed its fully permitted Luleå anode refinery. Once the refinery is in operation, it is expected to produce 19,500 tonnes of Li-ion battery anode annually.
The mine and refinery together have been designated as a strategic project under the European Commission’s Critical Raw Materials Act and the Net-Zero Industry Act.
The month prior, Talga secured a binding offtake agreement with battery charging technology company Nyobolt that includes a multi-year supply of Talga's Talnode-C graphite anode from the Vittangi anode project.
4. Quantum Graphite (ASX:QGL)
Market cap: AU$160.42 million
Quantum Graphite is advancing the Uley 2 flake graphite project in South Australia, which includes the past-producing Uley mine and the Mikkira deposit. The company bills it as “one of the largest high-grade natural flake deposits in the world.”
The project is fully permitted and development ready, with a binding offtake agreement with a major European trading group for 50 percent of its production for a minimum of five years.
Through its Sunlands Power joint venture with Sunlands Energy, Quantum Graphite plans to manufacture coarse-natural-flake-based thermal storage media sourced from the Uley mine to be fitted within Sunland Energy’s patented TES Graphite Cells technology for grid-connected, long-duration energy storage.
In early March, the Australian government granted major project status to the Uley 2 flake graphite property together with Sunland's associated facilities.
5. Renascor Resources (ASX:RNU)
Market cap: AU$150.04 million
Renascor Resources has honed its efforts on helping to power the future with clean energy resources.
While the company has five projects, most of its activities are focused on its two fully owned projects in South Australia: the Siviour battery anode materials project and the Carnding gold project.
Last year, the Australian government approved a AU$185 million loan facility to help advance its planned vertically integrated battery anode material graphite mine and manufacturing operation. The company was also awarded a AU$5 million grant under the Australian government’s International Partnerships in Critical Minerals Program to help fund a AU$10 million demonstration plant. Both of these initiatives have helped to fast track Siviour.
Renascor says it’s on track for planned commissioning of the demonstration processing plant in Q3 2025. The plant will produce battery-grade purified spherical graphite.
FAQs for investing in graphite
What is graphite?
Graphite is a naturally occurring form of the mineral carbon and is composed of many layers of graphene. The other naturally occurring form of carbon is diamonds, although the two minerals look entirely different due to their molecular structure. Graphite is fragile, but it has a very high heat resistance.
Graphite comes in three forms: amorphous, flake and vein, with flake being the most used. There is also synthetic graphite.
What is graphite used for?
The first thing that may come to mind when thinking of graphite applications is pencil lead. In fact, it is that industry that gave graphite its name — its moniker is derived from the Ancient Greek "graphein," which means to write. However, pencils make up a small percentage of overall graphite consumption.
A popular up-and-coming graphite use is as a component of lithium-ion batteries, which are used in everything from smart phones to EVs. It is a primary material in battery anodes — in fact, in the average electric passenger car, there are about 66 kilograms of graphite.
Other graphite uses include lubricants and consumer electronics; the commodity is also used as a refractory material in the manufacturing industry and in the creation of graphene sheets.
Is graphite found in Australia?
Even though there are no large-scale producing graphite mines in Australia (yet), the country sits on 5 million tonnes of ore reserves, and 7.97 million tonnes of economic demonstrated resources, as per government data published in 2022. These reserves and resources are shared between three states: Queensland, South Australia and Western Australia.
Article by Melissa Pistilli; FAQs by Lauren Kelly.
Don't forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.
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16 June
CSIRO Backs Graphite with AU$400,000 R&D Grant Program
Australia’s Commonwealth Scientific and Industrial Research Organisation (CSIRO) has launched a new graphite research and development (R&D) program geared at assisting small- to medium-sized enterprises.
The initiative will allow grant recipients to collaborate with CSIRO scientists and access quality facilities.
“(It) comes at a crucial time,” said CSIRO Principal Research Scientist Adam Best.
“As global supply chains face disruptions, countries are looking to diversify their sources of critical minerals. Australia is well-positioned to become a key supplier of battery-grade graphite.”
Eligible enterprises can receive up to AU$50,000 per project, with the funds assisting them in project areas such as graphite spheronisation and purification, electrochemical testing and recycling and reuse.
According to CSIRO, Australian graphite currently has a "limited" presence in global battery supply chains, but the grant program is looking to change that. The country currently does not produce any graphite.
Still, several companies have been making advancements concerning the metal.
In January, International Graphite (ASX:IG6) was awarded AU$4 million under Western Australia's Investment Attraction Fund. The amount will be dedicated to bulk ore extraction from the company’s Springdale deposit in Western Australia.
The state historically produced 219 tonnes of graphite, and an article published by the Geological Survey of Western Australia calls the battery metal “Western Australia’s unsung resource."
Lincoln Minerals (ASX:LML) is aiming to be Australia's newest graphite miner via its Kookaburra project in South Australia. It released a prefeasibility study in 2024 and is targeting a Stage 1 final investment decision in late 2026.
While the graphite market has faced challenges in recent years, its long-term outlook remains strong. The Australian Mining Review notes that “in a 2050 net zero scenario, graphite demand increases by four times by 2040.”
CSIRO's new graphite grant is part of the federal government’s Batteries Research and Development Program, which supports the National Battery Strategy, Critical Minerals Strategy and the Future Made in Australia agenda.
“By bolstering domestic research and production, we can contribute to more resilient supply chains and unlock new economic opportunities,” Best added.
Expressions of interest are open until March 30, 2026.
Don’t forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
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02 June
NextSource Materials Shifts Battery Anode Facility Plans to Middle East for Accelerated Growth
NextSource Materials Inc. (TSX:NEXT)(OTCQB:NSRCF) ("NextSource" or "the Company") announces an update to its Battery Anode Facility (BAF) strategy, withdrawing from its Mauritius option to focus on accelerated, larger-scale opportunities in the Middle East.
Since November 2022, NextSource has been working closely with its project stakeholders to establish a world-class BAF in Mauritius. The Company leased a potential BAF site and invested in upgrading existing processes to ensure compliance with local regulations and to minimize any environmental impact. Throughout the extensive Environmental Impact Assessment (EIA) review process, the Company continually and promptly met all requests for information.
Due to the prolonged and costly nature of the process, along with the remaining risk of post-approval contestation of Minister-approved EIAs, the Company has decided to exercise its option to terminate the lease agreement at the end of May and withdraw its EIA application at no further cost. This strategic decision minimizes financial exposure while leveraging the transportable BAF processing equipment, ensuring cost-efficient redeployment and installation at any suitable new location.
The Company is now prioritizing the development of a larger-scale BAF in the Middle East, targeting prospective sites in the Kingdom of Saudi Arabia and the United Arab Emirates. These locations offer streamlined permitting processes, robust infrastructure, and strategic proximity to global EV manufacturers ("OEMs"), enabling the Company to accelerate its timeline and meet growing demand for high-value graphite anode material.
NextSource has made steady progress to advance discussions with potential OEMs to secure an offtake agreement, currently under negotiation. These negotiations are centered on meeting the specific requirements of OEMs supported by positive feedback from product qualification trials. The development of larger-scale BAFs aligns with the Company's broader strategy of ensuring a secure and sustainable supply chain of active anode material for global OEM customers.
Hanré Rossouw, President and CEO commented,
"NextSource continues to progress our commitment to a sustainable and scalable supply chain for battery anode materials. While the decision to terminate our lease in Mauritius has not come lightly, we are excited to pursue larger-scale opportunities in the Middle East, leveraging our expertise and assets to meet global demand more efficiently."
A move to the Middle East also aligns with navigating evolving global trade dynamics, including favorable tariff structures in regions like the UAE, which currently faces a 10% US reciprocal tariff compared to markedly higher tariffs on Chinese graphite anode materials.
Battery Anode Facilities are value-added processing facilities that are capable of converting smaller size fraction graphite concentrate into a high-value graphite anode product, which is a critical and major component to the battery anode material that is assembled along with cathode material into lithium-ion batteries used in electric vehicles.
About NextSource Materials Inc.
NextSource Materials Inc. is a battery materials development company based in Toronto, Canada that is intent on becoming a vertically integrated global supplier of battery materials through the mining and value-added processing of graphite and other minerals.
The Company's Molo graphite project in Madagascar is one of the largest known and highest-quality graphite resources globally, and the only one with SuperFlake® graphite. The Molo mine has begun production through Phase 1 mine operations.
The Company is also developing a significant downstream graphite value-add business through the staged rollout of Battery Anode Facilities capable of large-scale production of coated, spheronized and purified graphite for direct delivery to battery and automotive customers, in a fully transparent and traceable manner.
NextSource Materials is listed on the Toronto Stock Exchange (TSX) under the symbol "NEXT" and on the OTCQB under the symbol "NSRCF".
For further information about NextSource, please visit our website at nextsourcematerials.com
Investors may contact: Brent Nykoliation, Executive Vice President +1.416.364.4911 brent@nextsourcematerials.com
Cautionary Note
This press release contains statements that may constitute "forward-looking information" or "forward-looking statements" within the meaning of applicable Canadian and United States securities legislation. Readers are cautioned not to place undue reliance on forward-looking information or statements. Forward looking statements and information are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "potential", "possible" and other similar words, or statements that certain events or conditions "may", "will", "could", or "should" occur. Forward-looking statements include any statements regarding, among others, the filing of an Updated Feasibility Study and the timing thereof; the completion of offtake agreements and certain other business and operational plans of the Company; the rollout of Battery Anode Facilities including the capabilities, permitting and the timing thereof; and the outlook in Graphite markets. These statements are based on current expectations, estimates and assumptions that involve a number of risks, which could cause actual results to vary and, in some instances, to differ materially from those anticipated by the Company and described in the forward-looking statements contained in this press release. No assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do so, what benefits the Company will derive there from. The forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements, whether because of new information, future events or otherwise, except as may be required by applicable securities laws. Although the forward-looking statements contained in this news release are based on what management believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with them. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release.
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