Norge Mining announced its strategic acquisition of Skaland Graphite from Australia’s Mineral Commodities (MRC) for $11.75 million. This purchase includes the world’s highest-grade flake graphite mine. The deal marks a vital step in securing Europe’s critical raw materials for the energy transition.
Skaland Graphite: Europe’s Strategic Battery Material
Skaland Graphite, located on Senja Island in northern Norway, produces about 10,500 tonnes annually. The site holds 1.84 million tonnes of JORC-compliant ore, with an impressive 23.6% total graphite content (TGC). This equals roughly 434,000 tonnes of contained graphite.
This acquisition strengthens Norge Mining’s goal to build a vertically integrated battery materials supply chain in Europe. The company aims to reduce Europe’s dependence on graphite imports, especially from China, which currently meets most of the EU’s 100,000-tonne annual demand.
Skaland’s graphite mainly supports batteries and industrial uses. With electric vehicle demand rising rapidly, graphite’s role in anode production becomes a strategic focus.
EU Policy and Market Trends Boost Local Supply Efforts
Graphite joined the EU’s strategic raw materials list in 2023, highlighting its key role in renewable energy and EV technologies. Meanwhile, China’s recent export restrictions have heightened supply chain risks.
By acquiring Skaland Graphite, Norge Mining secures a sustainable, high-grade European resource at a critical moment. The company plans to improve production efficiency and expand output while collaborating with the local Norwegian workforce. This effort complements Norge’s other exploration projects, including Eigersund.
MRC, the seller, will focus on its Munglinup graphite project in Australia and its active anode development strategy, both vital for global battery markets.
The deal expects to close in Q1 2025, pending regulatory approval. SuperMetalPrice will monitor graphite markets and critical material supply chains closely.
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