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 a higher crystalline structure and offers better electrical and thermal conductivity than synthetic material. It is also an essential material in electric vehicle (EV) batteries, where it is used to make the anode—the part of the battery that stores and releases energy. In fact, graphite is the single largest component in a typical lithium-ion battery by weight, making it a key ingredient in powering EVs.

Learn more about graphite

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 2024. However, several other companies are actively advancing graphite projects. In 2024, Canada produced 11,697 tonnes of natural graphite, a significant increase from the 4,261 tonnes produced in 2023.

International context

Global production and demand for graphite are expected to rise primarily because of its use in EV batteries. In 2024, global graphite consumption reached 5.7 million tonnes, up from 5.2 million tonnes in 2023. Synthetic graphite accounted for about 70% of total graphite consumption, with most of this demand being from Asia. North America accounted for 3.8% of global natural graphite and 6.6% of synthetic graphite consumption.

Global graphite mine production reached 1.6 million tonnes in 2024, a 4% increase from the previous year. China was the world’s leading producer, accounting for 79.4% of total production. Canada ranked eighth, producing about 0.7% of the world’s natural graphite.

World mine production of graphite, by country, 2024

Ranking	Country	Thousand tonnes	Percentage of total
1	China	1,270	79.4%
2	Madagascar	89	5.6%
3	Mozambique	75	4.7%
4	Brazil	68	4.3%
5	India	30	1.7%
6	Tanzania	25	1.6%
7	Russia	20	1.3%
8	Canada	12	0.7%
9	South Korea	10	0.6%
10	North Korea	8	0.5%
	Other	19	1.1%
World total (rounded)		1,622	100.0%

World reserves of graphite

In 2024, global graphite reserves were estimated at 290 million tonnes. China holds the largest reserves, followed by Brazil and Madagascar, with these three countries collectively accounting for 63% of global reserves.

Canada ranked 10th, with an estimated 5.9 million tonnes, representing 2% of the global total.

World reserves of graphite, by country, 2024

Ranking	Country	Million tonnes	Percentage of total
1	China	81.0	27.9%
2	Brazil	74.0	25.5%
3	Madagascar	27.0	9.3%
4	Mozambique	25.0	8.6%
5	Tanzania	18.0	6.2%
6	Turkey	18.0	6.2%
7	Russia	14.0	4.8%
8	Vietnam	9.7	3.3%
9	India	8.6	3.0%
10	Canada	5.9	2.0%
	Other	9.0	3.1%
Total		290	100.0%

Trade

In 2024, Canada’s domestic graphite exports totaled $43.9 million, down 36% from the previous year, while imports rose 6% to $34.4 million.

Natural graphite accounted for 59% of export value and 30% of imports, with synthetic graphite making up the remainder.

The United States was the top destination, accounting for 78% of Canada’s natural graphite exports and 56% of synthetic graphite exports.

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.