Global analysts estimate that by 2030, it will take 5 to 6 million metric tons of graphite per year to fill lithium battery demands. This is roughly four times the 1.3 million metric tons mined globally, according to the U.S. Geological Survey’s Mineral Commodities Summaries 2023.
In its highest demand projection, DOE forecasts that global graphite demand could be more than eight times current production by 2035.
“In 2035, flake graphite demand for energy applications will account for 91% of the total demand, and EV batteries will account for 74% of the total demand,” the U.S. Energy Department inked in its Critical Materials Assessment.
Silicon and other materials could be used as lithium battery anodes, “but complete substitution is unlikely due to technological challenges and performance concerns,” according to the DOE.
Tirupati Graphite PLC (LON:TGR) is a fully integrated specialist graphite and graphene producer, with operations in Madagascar and India. The Company is delivering on this strategy by being fully integrated from mine to graphene. Its global multi-location operations include primary mining and processing in Madagascar, hi-tech graphite processing in India to produce specialty graphite, and a state-of-art graphene and technology R&D center to be established in India.