With the electric vehicle (EV) boom showing no signs of slowing, graphite is under big demand.
Used as an essential material used for producing the anode of lithium-ion batteries, it already made it onto the USGS list of 35 minerals considered critical to the U.S. “USGS also sees a major spike in U.S. demand for graphite when Tesla Motor’s Gigafactory, an enormous lithium-ion battery facility being constructed in Nevada, is fully operational.”
In addition, consider this. By 2030, the world will see 125 million EVs on the road, which means we’ll need a good deal of graphite, according to Mining News North. By 2025, according to UBS, one is six cars sold will be electric. But for that to happen, we need plenty of graphite.