Metals Australia to Fast-Track Graphite Refinery in Québec

Metals Australia is bypassing intermediate engineering studies to fast track its high-purity graphite refinery in Québec into the final feasibility study stage. The company released a preliminary economic assessment (PEA) on April 28, detailing plans to process graphite into high-purity flake graphite for the European market. The binding joint venture will establish a European graphite processing hub.

Metals Australia has advanced its high-purity graphite refinery project in Québec directly to the final feasibility study stage, bypassing intermediate engineering assessments. The company, in collaboration with its Canadian subsidiary Northern Resources, released a preliminary economic assessment (PEA) on April 28, outlining a project to process 75,000 tonnes per year of flake graphite concentrate into 51,000 tonnes of high-purity graphite products over an initial 25-year period. The refinery, located near Baie-Comeau, is expected to generate a pre-tax net present value of $2.05 billion and an internal rate of return of 25.6%.

The project is supported by a current mineral resource with an average graphite grade of 10.2%, significantly higher than comparable projects in the region. The refinery is projected to create 227 jobs and contribute $21.5 million annually in direct wages to the local economy.

Simultaneously, International Graphite has signed a memorandum of understanding with Italian chemical company Alkeemia to establish a graphite processing joint venture in Europe. The proposed facility, located at Alkeemia’s Porto Marghera site near Venice, aims to begin production by late 2027. The joint venture will leverage Alkeemia’s infrastructure and purification technology, with International Graphite providing funding and processing expertise. The partnership is aligned with the European Union’s Critical Raw Materials Act, which seeks to localize 40% of strategic material processing by 2030.