Offering some of the highest graphite deposits worldwide, Africa has emerged as a highly strategic investment opportunity for mining companies. Major mining developments - such as the 174 million-ton Nachu Project in Tanzania; the 119 million-ton Montepuez Mine in Mozambique; and the 76 million-ton Molo Mine in Madagascar – affirm the potential for large-scale graphite investments. CMA 2024 will spotlight these investment opportunities.

The Critical Minerals Africa 2024 summit on November 6 - 7 serves to position Africa as the primary investment destination for critical minerals. The event is held alongside the African Energy Week: Invest in African Energy 2024 conference on November 4 - 8, offering delegates access to the full scope of energy, mining and finance leaders in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting [email protected].

With global graphite demand projected to grow 500% by 2050, a surge of investment has begun to flow across graphite-rich markets in Africa. In Uganda, mining firm Blencowe Resources formed a joint venture (JV) with graphite marketer Triessence Limited and anode material producer SPG Partner to develop a graphite beneficiation facility. Triessence and the U.S International Development Finance Corporation will provide funding for the construction of the graphite processing facility, which aims to bolster commercial returns and strengthen revenue generation for the country. In Tanzania, steelmaker POSCO invested $40 million in Tanzanian firm Black Rock Mining in September 2024. The investment will be made in phases, with the second phase supporting the development of Module 1 of the Mahenge Graphite Project. The investment follows the signing of a $2.5 billion loan agreement between the country and South Korea in June 2024, which grants South Korea access to Tanzanian minerals.

Meanwhile, in Madagascar, battery materials development company NextSource Materials secured $91 million in financing in June 2024 from the International Finance Corporation to increase graphite production at the Molo mine. The financing will boost output from 17,000 tons per annum (tpa) to 150,000 tpa. Shortly thereafter, Australian company Triton Minerals brought in China’s Shandong Yulong Gold as a partner for its Nicanda Hill and West graphite projects in Mozambique. Madagascar and Mozambique represent the biggest graphite producers in the world after China, with new investment set to fuel production even further.

Recent investments across Africa’s graphite industry will not only support production growth but consolidate the continent’s position as a major, global exporter. CMA 2024 will spotlight these developments, showcasing Africa’s graphite projects and the investment opportunities they present for global stakeholders.