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Mid-Nickel",103.5,99.73,3.78,13.78,6.78,[518,519,520,522,524,526,528,530,532,534,536,538],{"date":213,"value":512},{"date":216,"value":513},{"date":219,"value":521},99.19,{"date":222,"value":523},96.02,{"date":225,"value":525},98.23,{"date":467,"value":527},99.24,{"date":329,"value":529},101.29,{"date":339,"value":531},87.61,{"date":341,"value":533},92.44,{"date":344,"value":535},90.96,{"date":347,"value":537},92.24,{"date":350,"value":539},95.09,{"id":541,"uuid":542,"name":543,"slug":544,"full_slug":545,"content":546,"relatedArticles":850,"relatedVideos":851},112472303905878,"c4cb7646-8ae6-405c-a51b-df4d638a6ef4","Panasonic’s Canadian graphite deal highlights North American opportunity","panasonics-canadian-graphite-deal-highlights-north-american-opportunity","article/panasonics-canadian-graphite-deal-highlights-north-american-opportunity",{"_uid":547,"date":548,"tags":549,"editor":559,"content":569,"excerpt":829,"featured":51,"reporter":830,"_editable":834,"component":835,"seo_title":543,"categories":836,"visibility":843,"author_company":49,"featured_image":844,"seo_description":829,"author_full_name":49,"author_job_title":49,"formattedDate":848,"formattedArticleDate":849},"9ccae9b0-310e-4d8d-9de6-eaafcc17ff03","2022-11-02 00:00",[550,553,556],{"slug":551,"name":552},"canada","Canada",{"slug":554,"name":555},"north-america","North America",{"slug":557,"name":558},"panasonic","Panasonic",[560],{"slug":561,"name":562,"content":563},"didi-bostock","Didi Bostock",{"job_title":564,"image":565,"bio":567,"linkedin":568},"Editor - Energy Transition & Economics",{"filename":566},"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":570,"content":571},"doc",[572,579,594,599,612,621,626,631,638,659,672,677,682,687,692,697,702,707,728,733,738,751,756,761,766,771,776,781,786,806,819,824],{"type":573,"attrs":574,"content":575},"paragraph",{"textAlign":49},[576],{"text":577,"type":578},"North America is set to produce less than half of the spherical graphite it needs by 2030, highlighting the opportunity for companies to scale-up production of the anode material as battery producers look to localise supply chains. ","text",{"type":573,"attrs":580,"content":581},{"textAlign":49},[582,584,592],{"text":583,"type":578},"Last month Panasonic Energy signed an offtake agreement with Nouveau Monde Graphite (NMG), a graphite developer operating in Canada, for its anode active material, as the battery maker is set to start construction of a new ",{"text":585,"type":578,"marks":586},"30 gigawatt-hour battery gigafactory in Kansas this month",[587],{"type":588,"attrs":589},"link",{"href":590,"uuid":49,"anchor":49,"target":49,"linktype":591},"https://source.benchmarkminerals.com/article/panasonic-to-double-us-battery-production-capacity-with-kansas-plant/","url",{"text":593,"type":578},". ",{"type":573,"attrs":595,"content":596},{"textAlign":49},[597],{"text":598,"type":578},"“The localisation and shortening of the supply chain is the most important thing,” Eric Desaulniers, chief executive of Nouveau Monde, told Benchmark.",{"type":573,"attrs":600,"content":601},{"textAlign":49},[602,604,610],{"text":603,"type":578},"Panasonic’s move shows the need for North America to develop a domestic graphite supply chain. Without it, the region will ",{"text":605,"type":578,"marks":606},"remain reliant on China",[607],{"type":588,"attrs":608},{"href":609,"uuid":49,"anchor":49,"target":49,"linktype":591},"https://source.benchmarkminerals.com/article/graphite-inventories-in-china-shrink-ahead-of-winter-shutdowns/",{"text":611,"type":578}," which currently has a monopoly on spherical graphite production and is forecast to remain dominant also in anode production through to the next decade.",{"type":573,"attrs":613,"content":614},{"textAlign":49},[615],{"type":616,"attrs":617},"image",{"id":49,"alt":618,"src":619,"title":49,"source":49,"copyright":49,"meta_data":620},"","https://a.storyblok.com/f/287943243085208/e3fccf4f65/bm-spg-production.jpg",{},{"type":573,"attrs":622,"content":623},{"textAlign":49},[624],{"text":625,"type":578},"Benchmark forecasts that North America will only produce enough spherical graphite to meet 40% of its needs by 2030. ",{"type":573,"attrs":627,"content":628},{"textAlign":49},[629],{"text":630,"type":578},"“Sourcing materials for battery production in the US from Canada will … shorten supply chain distances and significantly reduce CO2 emissions in the logistics process,” Panasonic said. ",{"type":632,"attrs":633,"content":635},"heading",{"level":634,"textAlign":49},4,[636],{"text":637,"type":578},"Free money for the industry ",{"type":573,"attrs":639,"content":640},{"textAlign":49},[641,643,649,651,657],{"text":642,"type":578},"The ",{"text":644,"type":578,"marks":645},"US Inflation Reduction Act",[646],{"type":588,"attrs":647},{"href":648,"uuid":49,"anchor":49,"target":49,"linktype":591},"https://source.benchmarkminerals.com/article/us-inflation-reduction-act-puts-oem-raw-material-supply-deals-in-focus/",{"text":650,"type":578},", which was passed into law in August, provides tax credits for North American-made electric vehicles which have a certain proportion of the battery critical minerals sourced domestically or from countries with which the US has a Free Trade Agreement. The ",{"text":652,"type":578,"marks":653},"IRA also gives production tax credits",[654],{"type":588,"attrs":655},{"href":656,"uuid":49,"anchor":49,"target":49,"linktype":591},"https://source.benchmarkminerals.com/article/what-does-the-us-inflation-reduction-act-mean-for-the-ev-battery-supply-chain/",{"text":658,"type":578}," to US-based companies processing or producing materials needed for battery production.",{"type":573,"attrs":660,"content":661},{"textAlign":49},[662,664,670],{"text":663,"type":578},"As a Canadian producer, NMG can enable US-based automakers to access the ",{"text":665,"type":578,"marks":666},"$3,750 tax credit for critical raw material sourcing",[667],{"type":588,"attrs":668},{"href":669,"uuid":49,"anchor":49,"target":49,"linktype":591},"https://source.benchmarkminerals.com/article/can-the-us-meet-the-critical-mineral-requirements-of-the-climate-bill/",{"text":671,"type":578},", and help bolster the currently lacking North American anode production scene.",{"type":573,"attrs":673,"content":674},{"textAlign":49},[675],{"text":676,"type":578},"“There are not many options for being IRA compliant by 2025. There are not many alternatives to China,” Desaulniers said. “Even if we are executing our project perfectly, then there still isn’t enough North American or Free Trade Agreement supply to fulfil the demand that is expected.”",{"type":573,"attrs":678,"content":679},{"textAlign":49},[680],{"text":681,"type":578},"Desaulniers believes the difficulty of developing IRA-compliant supply is not a failure of the act, however. ",{"type":573,"attrs":683,"content":684},{"textAlign":49},[685],{"text":686,"type":578},"“[The US Government] shouldn’t be too gentle with the industry. They are not doing it to stimulate demand for EVs,” he said, adding: “Not everyone should expect to get their rebate.”",{"type":573,"attrs":688,"content":689},{"textAlign":49},[690],{"text":691,"type":578},"Another graphite developer looking to fulfil the growing demand for graphite is US-based Graphite One. They are developing a graphite mine in Alaska, with the plan to supply their own facility in Washington state where it will process, spheroidise, and coat the graphite to produce anode material.",{"type":573,"attrs":693,"content":694},{"textAlign":49},[695],{"text":696,"type":578},"Anthony Huston, Graphite One’s chief executive, is also hopeful the IRA will help bolster the US’s graphite supply chain.",{"type":573,"attrs":698,"content":699},{"textAlign":49},[700],{"text":701,"type":578},"“The IRA is definitely encouraging the development of domestic supply chains,” Huston said. “There is no other way to bring it on as quickly as possible than to give the carrot and give the 10%.”",{"type":632,"attrs":703,"content":704},{"level":634,"textAlign":49},[705],{"text":706,"type":578},"Money, Money, Money",{"type":573,"attrs":708,"content":709},{"textAlign":49},[710,712,718,720,726],{"text":711,"type":578},"The US recently announced the awardees of $2.8 billion of ",{"text":713,"type":578,"marks":714},"Department of Energy funding",[715],{"type":588,"attrs":716},{"href":717,"uuid":49,"anchor":49,"target":49,"linktype":591},"https://source.benchmarkminerals.com/article/us-targets-lithium-graphite-and-nickel-with-2-8-billion-doe-grants-to-take-on-china/",{"text":719,"type":578},", including nearly $220 million to ",{"text":721,"type":578,"marks":722},"Syrah Resources",[723],{"type":588,"attrs":724},{"href":725,"uuid":49,"anchor":49,"target":49,"linktype":591},"https://source.benchmarkminerals.com/article/us-doe-awards-first-battery-supply-chain-loan-to-syrah-anode-project/",{"text":727,"type":578}," to further develop the third phase of their US-based integrated active anode production facility in Vidalia, Georgia.",{"type":573,"attrs":729,"content":730},{"textAlign":49},[731],{"text":732,"type":578},"Although in favour of the grants, Huston explained more than just money was needed to develop the supply chain.",{"type":573,"attrs":734,"content":735},{"textAlign":49},[736],{"text":737,"type":578},"“They need to go one step further with permitting reform in order to allow an actual domestic supply chain to be built and to be up and running by 2029-2032,” Huston said.",{"type":573,"attrs":739,"content":740},{"textAlign":49},[741,743,749],{"text":742,"type":578},"In Canada, the Strategic Innovation Fund was created to spur investment in Canada and build up the country’s competitiveness in innovative industries. The fund includes C$8 billion (US$ 6.33 billion) for the Net Zero Accelerator Initiative, part of which aims to create a domestic ",{"text":744,"type":578,"marks":745},"Canadian battery supply chain",[746],{"type":588,"attrs":747},{"href":748,"uuid":49,"anchor":49,"target":49,"linktype":591},"https://source.benchmarkminerals.com/article/vw-mercedes-head-to-canada-seeking-raw-materials-but-can-it-meet-automaker-demand/",{"text":750,"type":578},".",{"type":573,"attrs":752,"content":753},{"textAlign":49},[754],{"text":755,"type":578},"“It really depends on the political push to make things happen quickly,” Desaulniers said. He said the fund was slow and the level of due diligence “can be a bit painful.”",{"type":573,"attrs":757,"content":758},{"textAlign":49},[759],{"text":760,"type":578},"Desaulniers went on to say “it is not the job of the governments to create projects and decide who is competitive and who is not,” and that the grants were currently at a fair balance.",{"type":573,"attrs":762,"content":763},{"textAlign":49},[764],{"text":765,"type":578},"“What we need is customers today to commit to buying from us in the future,” he said. “Then we can finance and build the projects.”",{"type":632,"attrs":767,"content":768},{"level":634,"textAlign":49},[769],{"text":770,"type":578},"Green Power",{"type":573,"attrs":772,"content":773},{"textAlign":49},[774],{"text":775,"type":578},"The spheroidisation of natural flake graphite to the spherical form needed can account for 20% of carbon emissions associated with natural graphite anode production in China according to Benchmark’s Flake Graphite Lifecycle Assessment.",{"type":573,"attrs":777,"content":778},{"textAlign":49},[779],{"text":780,"type":578},"By cutting down those emissions, North American spherical graphite not only has a geographical advantage but an environmental one too.",{"type":573,"attrs":782,"content":783},{"textAlign":49},[784],{"text":785,"type":578},"Panasonic said that using graphite made in Canada from clean energy “is a major step” towards its goal of halving its carbon footprint by 2031.",{"type":573,"attrs":787,"content":788},{"textAlign":49},[789,791,796,798,804],{"text":790,"type":578},"Although located in different countries, there is a common rationale behind where NMG and Graphite One have set up their processing facilities: ",{"text":792,"type":578,"marks":793},"Quebec",[794],{"type":588,"attrs":795},{"href":748,"uuid":49,"anchor":49,"target":49,"linktype":591},{"text":797,"type":578}," and ",{"text":799,"type":578,"marks":800},"Washington state",[801],{"type":588,"attrs":802},{"href":803,"uuid":49,"anchor":49,"target":49,"linktype":591},"https://source.benchmarkminerals.com/article/us-silicon-anode-scene-gathers-pace-with-porsche-backed-400-million-investment-in-group14/",{"text":805,"type":578}," both have an abundance of some of the world’s cheapest hydropower to tap into.",{"type":573,"attrs":807,"content":808},{"textAlign":49},[809,811,817],{"text":810,"type":578},"Graphite One is also looking to develop its synthetic graphite capabilities using green energy. ",{"text":812,"type":578,"marks":813},"Typically synthetic graphite has high carbon emissions",[814],{"type":588,"attrs":815},{"href":816,"uuid":49,"anchor":49,"target":49,"linktype":591},"https://source.benchmarkminerals.com/article/twin-power-crises-hit-chinas-synthetic-graphite-producers/",{"text":818,"type":578}," due to the amount of graphitisation that occurs in Inner Mongolia which runs on coal power.",{"type":573,"attrs":820,"content":821},{"textAlign":49},[822],{"text":823,"type":578},"“We believe the future is more bright for natural graphite for carbon footprint and cost,” Desaulniers said, with NMG currently wholly focused on natural graphite supply chains.",{"type":573,"attrs":825,"content":826},{"textAlign":49},[827],{"text":828,"type":578},"Regardless of form, Huston believes graphite is an underlooked part of the battery supply chain. “Graphite needs its day in the sun,” he said.","North America is set to produce less than half of the spherical graphite it needs by 2030, highlighting the opportunity for companies to scale-up production of the anode material as battery producers look to localise supply chains. Last month Panasonic Energy signed an offtake agreement with Nouveau Monde Graphite (NMG), a graphite developer operating in […]",[831],{"slug":561,"name":562,"content":832},{"job_title":564,"image":833,"bio":567,"linkedin":568},{"filename":566},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"9ccae9b0-310e-4d8d-9de6-eaafcc17ff03\", \"id\": \"\"}-->","article",[837,840],{"slug":838,"name":839},"critical-minerals","Critical Minerals",{"slug":841,"name":842},"graphite","Graphite","private",{"id":49,"alt":618,"name":618,"focus":618,"title":618,"source":618,"filename":845,"copyright":618,"fieldtype":846,"meta_data":847,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/b09546007f/bm-nmg-becancour-site-view-2.jpg","asset",{"alt":618,"title":618,"source":618,"copyright":618},"Nov 02, 2022","2nd November 2022",[],[],1782484970678]