Graphite facts

Graphite is a non-metallic mineral that has properties similar to metals, such as a good ability to conduct heat and electricity. Graphite occurs naturally or can be produced synthetically. Purified natural graphite has higher crystalline structure and offers better electrical and thermal conductivity than synthetic material.

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Uses

Natural and synthetic graphite are used in various applications, including electrodes, refractories, batteries, lubricants and foundry products. Coated spherical graphite is used to manufacture the anode in lithium-ion batteries. High-grade graphite is also used in fuel cells, semiconductors, LEDs and nuclear reactors.

Production

The Lac des Iles mine in Quebec was the only active graphite-producing mine in Canada in 2023. However, several other companies are actively advancing graphite projects. In 2023, Canada produced 4,261 tonnes of natural graphite, a significant decrease from the 13,597 tonnes produced in 2022.

International context

Global production and demand for graphite are expected to rise primarily because of its use in electric vehicle batteries. In 2023, global graphite consumption reached 5.2 million tonnes, up from 4.7 million tonnes in 2022. Synthetic graphite was about 67% of total graphite consumption, with most of this demand in Asia. North America consumed about 4.1% of global natural graphite and 5.5% of synthetic graphite.

Global graphite mine production was 1.6 million tonnes in 2023, a 23% increase from the previous year. China was the world’s leading producer, accounting for 77% of total production. Canada ranked 11th, producing about 0.3% of the world’s natural graphite.

World mine production of graphite, by country, 2023

Ranking	Country	Thousand tonnes	Percentage of total
1	China	1,230.0	77.4%
2	Madagascar	100.0	6.3%
3	Mozambique	96.0	6.0%
4	Brazil	73.0	4.6%
5	Republic of Korea	27.0	1.7%
6	Russia	16.0	1.0%
7	India	11.5	0.7%
8	North Korea	8.1	0.5%
9	Norway	7.2	0.5%
10	Tanzania	6.0	0.4%
11	Canada	4.3	0.3%
	Other	9.4	0.6%
World total (rounded)		1,588.5	100.0%

World reserves of graphite

In 2023, global graphite reserves were estimated at 280 million tonnes. China holds the largest reserves, followed by Brazil and Mozambique, with these three countries collectively accounting for 63% of the world's graphite reserves.

Canada ranks ninth globally, with an estimated 5.9 million tonnes of graphite reserves, representing 2.1% of the global total.

World reserves of graphite, by country, 2023

Ranking	Country	Million tonnes	Percentage of total
1	China	78.0	27.9%
2	Brazil	74.0	26.4%
3	Mozambique	25.0	8.9%
4	Madagascar	24.0	8.6%
5	Tanzania	18.0	6.4%
6	Russia	14.0	5.0%
7	India	8.6	3.1%
8	Turkey	6.9	2.5%
9	Canada	5.9	2.1%
10	Mexico	3.1	1.1%
	Other	22.5	8.0%
Total		280.0	100.0%

Trade

In 2023, the value of Canada’s domestic graphite exports reached $32.0 million, marking an 11.1% decrease from the previous year. Conversely, imports rose by 26%, totaling $32.5 million.

Natural graphite accounted for 56.1% of Canada's graphite export value and 26.2% of graphite imports, while synthetic graphite made up 43.9% of exports and 73.8% of imports.

The United States was the leading destination for Canada’s graphite exports in 2023, receiving 83% of natural graphite and 62% of synthetic graphite. Additionally, Canada exported natural graphite to 21 other countries and synthetic graphite to 20 other countries.

Prices

The market price for graphite is not readily available because transactions for both natural and synthetic graphite are typically negotiated directly between buyers and sellers.

Natural graphite prices are influenced by several factors, including graphite content, flake size and impurity levels.

As the world’s largest producer, China has a significant impact on international prices, which are generally set by large, high-volume buyers and tend to be conservative. Smaller buyers often face higher prices.

Recycling

The market for recycled refractory graphite material is currently modest but growing because the recycled material is now used in products such as brake linings and thermal insulation.

Although graphite is not typically recovered from recycled lithium-ion batteries, a Quebec-based company is developing a hydrometallurgical process to reclaim most of the battery's raw materials, including graphite.