Tanzania: Barrick Urges Traders to Grab Opportunities in Mining Sector Lindi Jumbo Graphite Mine, Walkabout Resources Ltd. has made progress with the construction and commissioning of this mine Graphite, crucial for EV batteries, is at the center of significant international initiatives due to its strategic importance and China’s dominance in production, controlling 90% of the global supply. Recent actions by global leaders underscore the growing demand and strategic need to diversify supply sources:
U.S. Initiatives
President Biden’s Support: Announced up to a $150 million conditional loan to enhance graphite mining and processing in Mozambique, aiming to boost U.S. graphite supply chains as part of the broader energy transition strategy.
EU’s Strategic Investment
Infrastructure Development: Proposing funding for a railroad in the Lobito region, Africa, to facilitate resource connectivity between cobalt-rich Congo and copper-rich Zambia, enhancing mineral transport efficiencies including graphite.
Tesla’s Strategic Partnerships
Reducing Dependence on China: Contract with Syrah Resources to purchase natural graphite from Louisiana, aiming to diminish reliance on Chinese graphite. Expanding Sources: Agreement with Uranex, Tanzania to secure 17,500 to 35,000 tons of anode material annually starting February 2025, with conditions tied to the operational readiness of Magnis Energy Technologies’ facilities.