Canada-based Northern Graphite and Saudi industrial group Obeikan Funding have signed a financing settlement to collectively develop and function a large-scale battery anode materials (BAM) facility in Saudi Arabia via a three way partnership firm.
The $200-million BAM facility could have an preliminary annual manufacturing capability of 25,000 tonnes. Building of the ability is anticipated to begin in 2026 and first-phase manufacturing is anticipated to start in 2028. The ability might be scalable over time to satisfy rising international demand for graphite anode supplies sourced outdoors of China.
The ability might be positioned in Yanbu, a strategically positioned industrial and logistics hub on the Pink Sea that has direct entry to European, North American and Center Japanese markets.
Obeikan will maintain a 51% stake within the three way partnership firm and Northern Graphite will maintain 49%.
Obeikan will lead the organizing of native debt funding required to finance building, improvement and commissioning of the plant. The companions will present the remaining funding as fairness in proportion to their possession pursuits and thru industrial banks.
Northern and Obeikan are in negotiations with battery producers to safe long-term offtake agreements for the preliminary 25,000 tonnes per 12 months of manufacturing. The three way partnership may even enter right into a long-term offtake settlement to buy as much as 50,000 tonnes of graphite focus yearly from Northern’s Okanjande undertaking in Namibia. That settlement will speed up the restart and potential enlargement of the graphite mine, which has been in a care and upkeep standing since 2018.
“We’re partnering with a well-financed and skilled industrial participant, gaining scale, financing energy, and entry to one of many world’s most strategically vital industrial hubs, whereas accelerating the restart of our Okanjande mine in Namibia and advancing our broader mine-to-market technique,” stated Hugues Jacquemin, Chief Govt Officer of Northern Graphite.
Supply: Northern Graphite
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