【Graphite Reserves】Top 10 Graphite-Producing Countries Worldwide (Updated 2023)

In recent years, despite several rounds of price adjustments in natural graphite, the price of this essential metal has received strong support from supply constraints and increasing demand. The interest in graphite mining has mainly arisen from the rise of lithium-ion batteries, and with the ongoing trends in the electric vehicle and energy storage industries, graphite demand is expected to continue to grow, and the releated production information of graphitized petroleum coke.

The latest data from the United States Geological Survey (USGS) reveals the top 10 graphite-producing countries globally in 2022:

1. China

Production: 850,000 tons

China is the world's largest graphite producer by a significant margin. According to data from the USGS, China's graphite production in 2022 accounted for 65% of the global total. About three-quarters of China's graphite production in 2022 was flake graphite, and the majority of global spherical graphite processing also occurs in China.

2. Madagascar

Production: 170,000 tons

African nation Madagascar jumped from being the world's fifth-largest graphite producer in 2021 to the second spot in 2022. It also holds the fourth-largest graphite reserves globally. Madagascar is witnessing active graphite exploration and development projects, with initiatives like NextSource Materials' (TSX: NEXT, OTCQB: NSRCF) Molo graphite mine commencing commercial production of SuperFlake graphite concentrate in June 2023, targeting an annual processing capacity of 17,000 tons.

3. Mozambique

Production: 110,000 tons

Mozambique has two major graphite mining companies: Syrah Resources (ASX: SYR, OTC Pink: SYAAF) and Triton Minerals (ASX: TON). Sydney-based Syrah Resources' Balama project is the world's largest integrated natural graphite mining and processing asset. The USGS noted increasing graphite exploration activity in Africa, with projects underway in Madagascar, Mozambique, Namibia, and Tanzania.

4. Brazil

Production: 87,000 tons

Brazil's graphite production increased by 5,000 tons from the previous year, reaching 87,000 tons in 2022. However, it did not retain its position as the world's second-largest graphite producer. Brazil is also the second-largest country in terms of graphite reserves and the third-most important jurisdiction for battery metals. The largest graphite producer in Brazil is a private company, so information about graphite mining in the country is limited. Nevertheless, Brazil is a hotspot for graphite exploration and development, with South Star Battery Metals' (TSXV: STS, OTCQB: STSBF) Santa Cruz flake graphite project currently in the first construction phase, with plans to begin commercial production in the fourth quarter of 2023.

5. South Korea

Production: 17,000 tons

South Korea's graphite production increased significantly from 10,500 tons in 2021 to 17,000 tons in 2022, placing it among the world's major graphite producers. The country's government aims to become a leader in the global battery market and reduce its dependence on China for graphite supply, leading to a substantial boost in graphite production.

6. Russia

Production: 15,000 tons

Russia's graphite production in 2022 remained the same as the previous year, sharing the sixth spot globally with Canada. Prior to the Russia-Ukraine conflict, two investment projects in Russia, Dalgraphite and Uralgraphite, were progressing, with expected substantial production increases over the next few years.

7. Canada

Production: 15,000 tons

Canada's graphite production increased by 3,000 tons in 2022 compared to the previous year. In recent years, interest in Canadian graphite resources has grown due to Tesla's plans to source lithium, graphite, and cobalt for its North American lithium-ion battery Gigafactory. The Lac des Iles mine is the only producing graphite mine in Canada, but several graphite projects are in development.

8. Norway

Production: 10,000 tons

Norway's graphite production increased from 6,290 tons in 2021 to 10,000 tons in 2022. All of the country's graphite deposits contain flake graphite and are generally of low tonnage. Nonetheless, many of these deposits are strategically located, such as near the coast or close to the power grid.

9. India

Production: 8,300 tons

India's graphite production increased by 1,300 tons from 2021 to reach 8,300 tons in the previous year. Graphite reserves in India vary significantly, with Arunachal Pradesh holding almost half of the country's graphite reserves. India has eight major producers, including Tirupati Carbons & Chemicals, Chotanagpur Graphite Industries, and Carbon & Graphite Products. HEG (NSE: HEG, BSE: 509631) is a small but leading graphite electrode producer in India.

10. North Korea

Production: 8,100 tons

North Korea's total graphite production in the previous year remained at 8,100 tons, unchanged from 2021. The country has graphite reserves of 1.8 million tons. However, information on graphite mining in North Korea is extremely limited.

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