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funding highlights Tanzania’s growing role in graphite supply chain ","mahenge-funding-highlights-tanzanias-growing-role-in-graphite-supply-chain","article/mahenge-funding-highlights-tanzanias-growing-role-in-graphite-supply-chain",{"_uid":557,"date":558,"tags":559,"editor":569,"content":579,"excerpt":712,"featured":51,"reporter":713,"_editable":717,"component":718,"seo_title":553,"categories":719,"visibility":726,"author_company":49,"featured_image":727,"seo_description":712,"author_full_name":49,"author_job_title":49,"formattedDate":731,"formattedArticleDate":732},"a629539d-1755-4a08-bb89-fc11d0356d9f","2024-09-24 00:00",[560,563,566],{"slug":561,"name":562},"africa","Africa",{"slug":564,"name":565},"black-rock-mining","Black Rock Mining",{"slug":567,"name":568},"tanzania","Tanzania",[570],{"slug":571,"name":572,"content":573},"didi-bostock","Didi Bostock",{"job_title":574,"image":575,"bio":577,"linkedin":578},"Editor - Energy Transition & Economics",{"filename":576},"https://a.storyblok.com/f/287943243085208/512x512/2c5ca5c1a3/didi-bostock.jpeg","Didi is the Energy Transition & Economics Editor at Benchmark, covering a broad range of markets across the energy transition. His remit spans from downstream sectors such as BESS and EVs, through to midstream such as new technologies and battery production, to upstream critical minerals mining. He also leads on financial analysis across these supply chains, alongside in-depth policy analysis.\n","https://www.linkedin.com/in/didi-bostock-656342198/",{"type":580,"content":581},"doc",[582,599,610,615,620,629,636,641,646,651,656,666,671,676,687,692,697,702,707],{"type":583,"attrs":584,"content":585},"paragraph",{"textAlign":49},[586,589,597],{"text":587,"type":588},"Black Rock Mining has secured $179 million to develop its Mahenge graphite project in Tanzania. The country’s natural graphite production is set to increase more than fourfold by the end of this decade, according to Benchmark’s ","text",{"text":590,"type":588,"marks":591},"Natural Graphite Forecast",[592],{"type":593,"attrs":594},"link",{"href":595,"uuid":49,"anchor":49,"target":49,"linktype":596},"https://www.benchmarkminerals.com/natural-graphite/data-reports/forecast/","url",{"text":598,"type":588},".",{"type":583,"attrs":600,"content":601},{"textAlign":49},[602,604,608],{"text":603,"type":588},"Tanzania’s share of global supply is forecast to increase from 4% to 8% in 2030. Global demand for natural graphite is forecast to more than double over the same period driven by demand from the battery industry, according to Benchmark’s ",{"text":590,"type":588,"marks":605},[606],{"type":593,"attrs":607},{"href":595,"uuid":49,"anchor":49,"target":49,"linktype":596},{"text":609,"type":588},". ",{"type":583,"attrs":611,"content":612},{"textAlign":49},[613],{"text":614,"type":588},"The ramp up of ex-China natural graphite supply is welcomed by OEMs looking to source material that qualifies for tax credits under the US’ Inflation Reduction Act (IRA). Similarly, importers of natural graphite to the US will face a tariff of 25% on material from China starting in 2026.",{"type":583,"attrs":616,"content":617},{"textAlign":49},[618],{"text":619,"type":588},"“Despite current structural overcapacity in China, investors are beginning to draw conclusions about what a looming deficit in the second half of the decade could do to prices,” said Adam Megginson, an analyst at Benchmark.",{"type":583,"attrs":621,"content":622},{"textAlign":49},[623],{"type":624,"attrs":625},"image",{"id":49,"alt":626,"src":627,"title":49,"source":49,"copyright":49,"meta_data":628},"","https://a.storyblok.com/f/287943243085208/b6187bb857/bm-africa-ramps-up-natural-graphite-production-4.png",{},{"type":630,"attrs":631,"content":633},"heading",{"level":632,"textAlign":49},4,[634],{"text":635,"type":588},"What role does Tanzania play in graphite production?",{"type":583,"attrs":637,"content":638},{"textAlign":49},[639],{"text":640,"type":588},"Natural flake graphite supply from African countries is forecast to make up 26% of the global market in 2030, up from 13% in this year. The region has attracted interest from ex-China downstream players looking to diversify their supply.",{"type":583,"attrs":642,"content":643},{"textAlign":49},[644],{"text":645,"type":588},"The ramp up in Tanzanian supply comes from projects being developed by several companies.",{"type":583,"attrs":647,"content":648},{"textAlign":49},[649],{"text":650,"type":588},"Supply is more diverse in Tanzania than Mozambique, the only African country with higher natural graphite production. In 2030, the two largest Mozambican mines are forecast to be responsible for 82% of the country’s production, whilst the two largest Tanzanian mines – Epanko and Mahenge – will make up 45% of the country’s production.",{"type":630,"attrs":652,"content":653},{"level":632,"textAlign":49},[654],{"text":655,"type":588},"Tanzania’s natural graphite projects",{"type":583,"attrs":657,"content":658},{"textAlign":49},[659,661,665],{"text":660,"type":588},"Tanzania has two natural graphite mines currently in operation, with a further four in development, according to Benchmark’s ",{"text":590,"type":588,"marks":662},[663],{"type":593,"attrs":664},{"href":595,"uuid":49,"anchor":49,"target":49,"linktype":596},{"text":598,"type":588},{"type":583,"attrs":667,"content":668},{"textAlign":49},[669],{"text":670,"type":588},"Source: Benchmark Natural Graphite Forecast",{"type":630,"attrs":672,"content":673},{"level":632,"textAlign":49},[674],{"text":675,"type":588},"Why is there interest in ex-China graphite?",{"type":583,"attrs":677,"content":678},{"textAlign":49},[679,681,685],{"text":680,"type":588},"China dominates the global supply of natural graphite, with 73% of global supply expected to come from the country in 2024, according to Benchmark’s ",{"text":590,"type":588,"marks":682},[683],{"type":593,"attrs":684},{"href":595,"uuid":49,"anchor":49,"target":49,"linktype":596},{"text":686,"type":588},". For USPG, China is forecast to produce 94% of global supply.",{"type":583,"attrs":688,"content":689},{"textAlign":49},[690],{"text":691,"type":588},"Interest in ex-China material has risen since the US’ IRA was enacted in July 2022. The foreign entity of concern (FEOC) stipulations require an electric vehicle to use parts and materials made outside of China and by non-Chinese companies. In the case of graphite, automakers have until 2027 to source material from outside of China.",{"type":583,"attrs":693,"content":694},{"textAlign":49},[695],{"text":696,"type":588},"Earlier this month, the US finalised its 25% tariff on Chinese graphite starting in 2026, confirming the need for US automakers to source material from elsewhere.",{"type":583,"attrs":698,"content":699},{"textAlign":49},[700],{"text":701,"type":588},"“Ex-China project developers are hoping a premium develops for material that does not originate from a FEOC,” Megginson said. “This will be important if these producers are to overcome the more challenging capital expenditure requirements of projects outside of China.”",{"type":583,"attrs":703,"content":704},{"textAlign":49},[705],{"text":706,"type":588},"The EU has similar legislation in the form of the Critical Raw Materials Act (CRMA).",{"type":583,"attrs":708,"content":709},{"textAlign":49},[710],{"text":711,"type":588},"The export regulations China placed on natural graphite in December 2023 provide further incentive to source material from outside the country, though the policy has not yet been used to limit supply.","Black Rock Mining has secured $179 million to develop its Mahenge graphite project in Tanzania. The country’s natural graphite production is set to increase more than fourfold by the end of this decade, according to Benchmark’s Natural Graphite Forecast. Tanzania’s share of global supply is forecast to increase from 4% to 8% in 2030. Global […]",[714],{"slug":571,"name":572,"content":715},{"job_title":574,"image":716,"bio":577,"linkedin":578},{"filename":576},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"a629539d-1755-4a08-bb89-fc11d0356d9f\", \"id\": \"\"}-->","article",[720,723],{"slug":721,"name":722},"critical-minerals","Critical Minerals",{"slug":724,"name":725},"graphite","Graphite","private",{"id":49,"alt":626,"name":626,"focus":626,"title":626,"source":626,"filename":728,"copyright":626,"fieldtype":729,"meta_data":730,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/33b0c394a2/bm-mahenge-funding-highlights-tanzanias-growing-role.jpg","asset",{"alt":626,"title":626,"source":626,"copyright":626},"Sep 24, 2024","24th September 2024",[],[],1792773896964]