China's Graphite Dominance Challenged by Africa's Rise
China, which produces around 80% of the world's graphite according to the International Energy Agency, is facing a surge in African production. Benchmark Mineral Intelligence estimates that African production could surpass China's by 2026, with Mozambique, Tanzania, and Madagascar accounting for nearly 47% of new supply in 2025, up from just 10% in 2023.
In this context, Australian company Triton Minerals announced on December 9 the sale of 70% of its Ancuabe graphite project in Mozambique to Shandong Yulong Gold, a Chinese company. The transaction, expected to close in February 2025, will give Shandong control of a deposit capable of producing 70,000 tons of concentrate per year over 27 years.
Other Chinese players are also positioning themselves, such as DH Mining Development, which will launch its Nipepe project in Mozambique in 2024, with a capacity of 200,000 tons per year over 25 years.
As Africa emerges as a future leader in the graphite market, China is intensifying its efforts to control these strategic resources, essential to its industry and its key role in the global supply chain.
