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Northern Graphite reopens North America鈥檚 only producing mine

The Lac des Iles mine in Quebec (LDI) is the only聽graphite producer in North America. (Image courtesy of )

Canada鈥檚 Northern Graphite (TSX-V: NGC) it had resumed processing ore at its Lac des Iles (LDI) mine in Quebec, which is North America鈥檚 only producing mine of the commodity.

The company said the decision follows rising market demand after聽. China, the world鈥檚 top graphite producer and exporter,聽said in October聽that exports of some types of natural and man-made forms of graphite would require permits from December 1.聽

Graphite is used in electric vehicles鈥 (EVs) battery anodes, which is the negatively charged portion of a battery.

The LDI mine and plant were placed on care and maintenance during the second and third quarters of this year, due to challenging market conditions and prices for its products. Northern Graphite continued to supply customers from stockpiled inventories during that time.

Sales at the mines increased more than 25% in the September quarter to 2,587 tonnes from 2,016 tonnes in the previous quarter.

鈥淲hat we saw starting in the third quarter was that customers were really coming off the sidelines to secure supply for the year after a hiatus in the first half,鈥 chief executive officer Hugues Jacquemin .

Jacquemin noted the company has immediate capacity available to supply the market. Northern Graphite also has the ability to scale quickly thanks to its Okanjande聽mine in Namibia.

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