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With the market for #graphite expected to drastically change as demand for the mineral significantly increases over the coming years, Canada and the US need to develop a stable, domestic supply.
“There’s a huge market that needs to be built for graphite in North America, that doesn’t exist,” according to Belinda Labatte, CEO of Lomiko Metals (TSXV:LMR, OTC:LMRMF, FSE:DH8C). “We’ve depended on supply coming or processed 100 percent through China.”
Lomiko is an exploration and development company currently focused on its flagship La Loutre graphite project in Quebec, Canada, with the goal of supplying the anticipated growth in demand for graphite in North America, largely brought on by the burgeoning electric vehicle (EV) market.
Calling it the “quiet mineral,” Labatte said graphite is an integral component in rechargeable batteries and energy storage. It is about 95 percent of the anode material in electric vehicle batteries and is the heaviest metal in an EV battery, making importing graphite into North America a costly undertaking. And yet, most of the supply is coming from outside North America.
“So, players like Lomiko that are developing a project to feed into that supply chain are positioned really well. And I say that because that market imbalance is going to be at a negative 8-million-ton-per-year position by 2040.
“And we see a great opportunity for us in southern Quebec,” Labatte said. That opportunity comes as the US Inflation Reduction Act incentive requirement states 80 percent of raw materials for batteries in the United States must come from a North American source.
Lomiko’s La Loutre graphite project is currently advancing from the preliminary economic assessment phase to the pre feasibility studies phase, according to the company CEO.
“Graphite has been the quiet mineral. Lithium has gotten all the attention, but wait for it, people are going to be talking about graphite and understanding how vital this is to the EV supply chain that we’re building,” Labatte said.
01:06 Lomiko Metals, explorer and developer of graphite and lithium in Quebec
02:30 The role of graphite in the EV market
04:49 La Loutre’s PEA shows great economics
06:14 Lomiko Metals’ future plans
07:15 Open to acquisition possibilities
09:06 Private placement is underway
10:59 Why investors should consider Lomiko Metals
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The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.