Ontario’s Northern Graphite Signs Agreement to Sell Graphite in China

Ottawa-headquartered Northern Graphite Corp., a mine development company with a 100 per cent interest in the Bissett Creek graphite deposit located in southeastern Ontario, has signed a memorandum of understanding with a European commodity trading company to sell 100 per cent of the projected output from the Bissett Creek graphite project in China. The parties intend to enter into a binding agreement when a number of conditions have been met, including the arrangement of project financing. Chinese production of extra-large and extra-extra-large flake graphite is declining while demand is growing. China Minmetals Corp., China's largest metals and minerals group, recently estimated that the demand for some types of graphite, like those used in lithium-ion batteries, will be a million tonnes by 2020 and most will be consumed in China. This will require annual flake graphite production to more than double from current levels.

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