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Chains",{"filename":566},"https://a.storyblok.com/f/287943243085208/800x800/66d6674fb8/benjamin-roche.png","Benjamin is Benchmark's Editor for Energy Transition Supply Chains, covering both upstream products like critical minerals and downstream products including energy storage systems and electric vehicles. He has previous experience covering trade flows, tariffs and the effects of geopolitics on supply chains.","https://www.linkedin.com/in/benjaminrochecontent/",{"type":570,"content":571},"doc",[572,590,612,623,633,638,643,650,655,660,673,679],{"type":573,"attrs":574,"content":575},"paragraph",{"textAlign":49},[576,579,588],{"text":577,"type":578},"The Canadian government has signed an updated commercial agreement with ","text",{"text":555,"type":578,"marks":580},[581],{"type":582,"attrs":583},"link",{"href":584,"uuid":585,"anchor":49,"target":586,"linktype":587},"/article/oems-are-ready-to-pay-the-price-needed-to-finance-projects-qa-with-nouveau-monde-ceo-eric-desaulniers","5f570124-7f3b-4f3a-8f8d-a804a7d0ddb8","_blank","story",{"text":589,"type":578}," (NMG) for supply, storage and resale of its natural graphite concentrate from the company’s Matawinie Mine.",{"type":573,"attrs":591,"content":592},{"textAlign":49},[593,595,601,603,610],{"text":594,"type":578},"Together with the news that the US government is taking a ~20% stake in graphite producer ",{"text":552,"type":578,"marks":596},[597],{"type":582,"attrs":598},{"href":599,"uuid":600,"anchor":49,"target":586,"linktype":587},"/videos/syrah-resources-keynote-presentation","3202e6a7-cc22-4b89-8d26-d7c596d91acc",{"text":602,"type":578},", it highlights ",{"text":604,"type":578,"marks":605},"North American governments’ growing involvement ",[606],{"type":582,"attrs":607},{"href":608,"uuid":609,"anchor":49,"target":586,"linktype":587},"/article/north-americas-anode-push-accelerates-with-nouveau-monde-gm-deal","c2c4a5f4-d0c9-424f-87c7-dfe1623057b1",{"text":611,"type":578},"in a sector that remains heavily dominated by China in both supply and refining.",{"type":613,"attrs":614},"blok",{"id":615,"body":616},"b891e4f4-98de-4288-8dad-bb802293ca27",[617],{"id":618,"_uid":619,"type":620,"component":621,"fixed_height":622,"use_fixed_height":50,"fixed_height_mobile":622,"fixed_height_tablet":622},"28311807","i-fddc432a-ffbd-4796-b347-2e5d9c23920e","visualisation","ContentFlourish","",{"type":624,"attrs":625,"content":627},"heading",{"level":626,"textAlign":49},2,[628],{"text":629,"type":578,"marks":630},"New NMG agreement doubles previously planned volume",[631],{"type":632},"bold",{"type":573,"attrs":634,"content":635},{"textAlign":49},[636],{"text":637,"type":578},"The new take-or-pay deal commits the Canadian government to purchase 30,000 tonnes of flake graphite concentrate over seven years from NMG, double the 15,000 tonnes agreed under a previous version of the agreement signed in Q4 2025. NMG will be able to resell product covered by the agreement, sharing half of the upside with the Canadian government. The deal is binding, subject to customary conditions precedent, including governmental appropriations and NMG’s positive final investment decision (FID).",{"type":573,"attrs":639,"content":640},{"textAlign":49},[641],{"text":642,"type":578},"Canada’s government committed to support the development of the Matawine Mine with US$335m in financing from its Major Projects Office, which was created under the country’s Building Canada Act in 2025, contingent on securing a FID. The project sits alongside the Bécancour Battery Materials Plant, together forming what the government calls “a complete, domestic value chain for battery-grade graphite in Quebec”.",{"type":624,"attrs":644,"content":645},{"level":626,"textAlign":49},[646],{"text":647,"type":578,"marks":648},"US also seeking to boost graphite supply",[649],{"type":632},{"type":573,"attrs":651,"content":652},{"textAlign":49},[653],{"text":654,"type":578},"The US and Canada are both making efforts to increase access to ex-China graphite supply. On 26 March, the US government’s International Development Finance Corporation (DFC) announced it will be swapping a loan to Australian graphite producer Syrah Resources to a 20% stake.",{"type":573,"attrs":656,"content":657},{"textAlign":49},[658],{"text":659,"type":578},"DFC CEO Ben Black emphasised at the announcement of DFC’s Syrah stake that “economic security is national security”.",{"type":573,"attrs":661,"content":662},{"textAlign":49},[663,665,671],{"text":664,"type":578},"Benchmark’s Graphite & Anode Service shows that China supplied 73% of the world’s mined natural graphite supply in 2025, ",{"text":666,"type":578,"marks":667}," ",[668],{"type":669,"attrs":670},"textStyle",{"color":622},{"text":672,"type":578},"whilst North American domestic supply accounted for just 0.6% – well short of its own domestic demand.",{"type":613,"attrs":674},{"id":615,"body":675},[676],{"id":677,"_uid":678,"type":620,"component":621,"fixed_height":622,"use_fixed_height":50,"fixed_height_mobile":622,"fixed_height_tablet":622},"28312328","i-2691d8d8-1552-4f8b-a76c-f852fac4b2f9",{"type":573,"attrs":680,"content":681},{"textAlign":49},[682,684,691],{"text":683,"type":578},"The stake means the DFC will be the second-largest shareholder in Syrah. Its Balama site in Mozambique is among the world’s largest flake graphite mining facilities, and is expected to supply more than any other by 2030, according to ",{"text":685,"type":578,"marks":686},"Benchmark’s Graphite & Anode Service",[687],{"type":582,"attrs":688},{"href":689,"uuid":49,"anchor":49,"target":49,"linktype":690},"https://www.benchmarkminerals.com/natural-graphite","url",{"text":692,"type":578},".","The Canadian government has signed an updated commercial agreement with Nouveau Monde Graphite (NMG) for supply, storage and resale of its natural graphite concentrate from the company’s Matawinie Mine.",[695],{"slug":696,"name":697,"content":698},"tony-alderson","Tony Alderson",{"job_title":699,"image":700,"bio":702,"linkedin":703,"markets_covered":261},"Research Manager - Anode",{"filename":701},"https://a.storyblok.com/f/287943243085208/800x800/f521ccb976/tony-alderson.jpeg","Tony is a Research Manager at Benchmark Mineral Intelligence, specialising in forward-looking models that encompass supply, demand, and pricing dynamics for anode materials. He has over 3 years experience in the battery supply chain, previously working as a Price & Data Analyst, for LiB raw materials. His background is in renewable and sustainable energy technologies, having completed an MSc at Northumbria University, Newcastle.","https://www.linkedin.com/in/tony-alderson-b370b7170/","article","Canadian government signs graphite deal with NMG",[707,710,712],{"slug":708,"name":709},"graphite","Graphite",{"slug":711,"name":189},"natural-graphite",{"slug":713,"name":714},"critical-minerals","Critical Minerals","private",{"id":49,"alt":49,"name":622,"focus":49,"title":49,"source":49,"filename":622,"copyright":49,"fieldtype":717,"meta_data":718},"asset",{},{"id":720,"alt":622,"name":622,"focus":622,"title":622,"source":622,"filename":721,"copyright":622,"fieldtype":717,"meta_data":722,"is_external_url":50},129070413258975,"https://a.storyblok.com/f/287943243085208/2cdc671404/bm-north-american-lithium.jpg",{},"Apr 01, 2026","1st April 2026",[],[],1780500912238]