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Many market watchers believe graphite miners and explorers may be poised to do well in the coming years. Read on to learn about the five top ASX-listed graphite miners by market cap.

As the demand for lithium-ion batteries continues to rise, so does the need for graphite. Alongside the traditional uses for the grey mineral like pencils, graphite is a key component in these batteries due to its electrical conductivity and the capacity to shorten charging times. Many experts believe graphite explorers and miners are in a good spot for the future.

With this in mind, it is worth being aware of the graphite miners on the market. To help investors with this, the Investing News Network has compiled a list of the top graphite miners on the ASX.

Below is a list of the top ASX graphite stocks by market cap. Data was collected from TradingView's stock screener on July 29, 2022.

1. Syrah Resources

Market cap: AU$974.04 billion; current share price: AU$1.47

Syrah Resources (ASX:SYR) is an Australian industrial minerals and technology company with a vision of becoming a leading global supplier of graphite and battery anode products. Its two main focuses are its flagship Balama graphite project in Mozambique and the active anode material facility in the United States. Syrah’s Balama operation has a projected lifespan of over 50 years and its combined mining and processing operations allow for the production of 94 percent to 98 percent pure carbon graphite concentrate.

On July 22, the company announced that it entered into a Memorandum of Understanding with Ford and SK On to be a joint supplier of lithium-ion batteries for Ford’s electric vehicle programs. The agreement is currently non-binding and the companies will negotiate a final agreement by December 2022. The company also received a US$102 million loan from the Department of Energy the same month.

2. Renascor Resources 

Market cap: AU$474.81 billion; current share price: AU$0.21

Renascor Resources (ASX:RNU) is an Australia-based company with a focus on helping to power the future with clean energy resources. While the company has a total of five projects, most of the company's activities are focused on its two fully owned projects in South Australia: the Siviour battery anode materials project and the Carnding gold project. Siviour is the second largest graphite reserve in the world outside of Africa, and its mine is projected to support 150,000 tonnes per year over a 40 year lifespan.

In early July 2022, the company announced that after finding its thickest and highest grade graphite to date, it will seek to expand the mine in order to increase the size and production capacity. Renascor has entered a land and option agreement that gives it permission to explore and purchase the land on the mine's north-western side.

3. Magnis Resources

Market cap: AU$320.21 billion; current share price: AU$0.33

Magnis Resources (ASX:MNS) is a near-term graphite producer with a flagship property in Tanzania. The company’s 100 percent owned Nachu graphite project is one of the world’s most advanced and shovel-ready graphite projects. The company has made significant progress at Nachu as the project is now fully permitted, and it has a completed bankable feasibility study, a power supply agreement and a favourable port authority agreement.

A report from July 22 shared that at the end of June 2022, the New York lithium-ion battery plant was 84 percent complete with zero safety incidents reported that month. The remaining tasks are aesthetics and minor tweaks in an office area. The plant is set to begin the initial production of battery cells in August 2022 and is expected to increase production to 10,000 cells each day at regular capacity.

4. Quantum Graphite

Market cap: AU$128.08 million; current share price: AU$0.42

Quantum Graphite (ASX:QGL) is a mining and production company based out of Australia with a focus on both graphite and graphite products. Quantum’s vision is to use its Uley mines to develop a global platform for processing and manufacturing flake graphite products. The company has plans to continue its investment in graphite and processing technologies to support the electric vehicle market.

In May 2022, the company executed a binding agreement with MRI Trading, a Swiss-based metal and minerals trading group, to sell 100 percent of all flake graphite production from the Uley 2 project for a term of five years. The Swiss company provided Quantum Graphite with exposure to its existing client base and markets. Quantum Graphite predicts Uley 2 to begin production by December 2026.

5. EcoGraf

Market cap: AU$135.1 million; current share price: AU$0.31

EcoGraf (ASX:EGR), formerly known as Kibaran Resources, is an Australia-based company with a focus on graphite production for the lithium-ion battery market from the mining stage to the battery recycling stage. Despite the name change, the company still maintained its fully owned Epanko project in Tanzania, which is predicted to produce 60,000 tonnes of natural flake graphite profits per annum over a course of 18 years.

In June 2022, the Helmholtz Institute in Germany confirmed EcoGraf’s recycled graphite performance. In a test of quality, EcoGraf HF Free purified graphite, which is recycled from used lithium-ion batteries, matches the performance of newly manufactured battery graphite.

This is an updated version of an article first published by the Investing News Network in 2018.

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Securities Disclosure: I Marlee John, hold no direct investment interest in any company mentioned in this article.

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