Lomiko Metals CEO Says Graphite is Poised for Prime Time
“Graphite has been the quiet mineral … but wait for it, people are going to be talking about graphite and understanding how vital this is to the EV supply chain," said Belinda Labatte, CEO of Lomiko Metals.
Lomiko Metals CEO says graphite is poised for prime timeyoutu.be
With the market for graphite expected to drastically change as demand for the mineral significantly increases over the coming years, Canada and the US need to develop stable, domestic supply.
“There's a huge market that needs to be built for graphite in North America that doesn't exist,” said Belinda Labatte, CEO of Lomiko Metals (TSXV:LMR,OTCQB:LMRMF,FWB:DH8C). “We've depended on supply coming or being processed 100 percent through China.”
Lomiko is an exploration and development company currently focused on its flagship La Loutre graphite project in Quebec, Canada. Its goal is to supply the anticipated growth in demand for graphite in North America, largely brought on by the burgeoning electric vehicle (EV) market.
Calling it the “quiet mineral,” Labatte said graphite is an integral component in rechargeable batteries and energy storage. It is about 95 percent of the anode material in EV batteries and is the heaviest metal in an EV battery, making importing graphite into North America a costly undertaking, and yet most of the supply is coming from outside North America.
“Players like Lomiko that are developing a project to feed into that supply chain are positioned really well. And I say that because that market imbalance is going to be at a negative 8 million tonne per year position by 2040," Labatte said. “And we see a great opportunity for us in Southern Quebec. That opportunity comes as the US Inflation Reduction Act incentive requirement states 80 percent of raw materials for batteries in the US must come from a North American source."
Lomiko’s La Loutre graphite project is currently advancing from the preliminary economic assessment phase to the prefeasibility study phase, according to the company CEO.
“Graphite has been the quiet mineral. Lithium has gotten all the attention, but wait for it — people are going to be talking about graphite and understanding how vital this is to the EV supply chain that we're building,” Labatte said.
Watch the full interview with Belinda Labatte, CEO of Lomiko Metals.
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