Graphite is an important material in the fields of batteries and nuclear power, but it is not a very valuable material. The United States could import it at a low price, so it almost closed its domestic mines 70 years ago. Now that the United States is restarting graphite mining, Titan Mining Company from New York State has already conducted limited mining in its mining area and plans to achieve commercial production in 2028.
The project's production capacity after full production is approximately 40,000 tons of graphite concentrate, equivalent to about half of the current demand in the United States.This means that the United States can reduce its dependence on graphite imports by half.
The United States has increased investment in key mineral projects in recent years. In the past, it could rely on imports to expand production. Now it requires local independent production. Although it is not as important as rare earths and other stuck resources, this company's graphite production still receives support from U.S. funds.The Export-Import Bank of China has expressed its willingness to provide US$120 million in financing.
According to the official website of China Graphite Group, global graphite reserves in 2023 will be 280 million metric tons.
Among them, China's graphite reserves are 78 million metric tons, accounting for 27.86% of global reserves; Brazil's graphite reserves are 74 million metric tons, accounting for 26.43% of global reserves.
Global graphite production in 2023 will be 1.6 million metric tons,Among them, China's graphite production is 1.23 million metric tons, accounting for 76.87% of global production.
The main exporting countries of natural graphite are China, Mexico, Canada, Brazil, and Madagascar, and the main importing countries include South Korea, Japan, Germany, and the United States. In the past 30 years, China's graphite output has ranked first in the world.
