Introduction
In 2025, global electric vehicle sales surpassed 24 million units, with lithium-ion battery capacity reaching 750 GWh—and the critical material powering all of this is natural graphite, which comprises up to 95% of battery anodes. As an anode material manufacturer, are you facing these challenges: suppliers suddenly notifying you of extended lead times? Quality fluctuations causing yield losses? Chinese export controls creating uncertainty in your procurement plans?
The answers lie at the source—the mines.
Only seven mines worldwide have publicly disclosed verifiable capacity data, and collectively they account for 40% of global graphite supply. Understanding these core mines’ capacity, quality characteristics, operational status, and risk factors is the first step in optimizing your procurement strategy. From Mozambique’s 350,000-ton giant Balama to Tanzania’s Lindi Jumbo, renowned for its ultra-large flakes, each mine offers unique value propositions.
This article is based on the latest data from authoritative sources including the U.S. Geological Survey (USGS) and the International Energy Agency (IEA), providing you with an in-depth analysis of the real landscape of the global natural graphite supply chain. Let data guide your decisions and transform information into competitive advantage.
Featured Summary
What are the world’s largest natural graphite mines?
According to the latest 2024-2025 data, there are seven major operating natural graphite mines worldwide with publicly disclosed capacity data, ranked by annual capacity:
- Balama Mine (Mozambique) – 350,000 MT/year, the world’s largest single mine
- Yunshan Mine (China) – 200,000 MT/year, operated by China Minmetals
- Lindi Jumbo Mine (Tanzania) – 40,000 MT/year, 75% large flake content
- Molo Mine (Madagascar) – 17,000 MT/year, SuperFlake brand
- Santa Cruz Mine (Brazil) – 12,000 MT/year, commissioned in 2024
- Sahamamy Mine (Madagascar) – 18,000 MT/year (currently under care and maintenance)
- Vatomina Mine (Madagascar) – 8,000 MT/year
These seven mines have a combined capacity of approximately 645,000 MT/year, representing about 40% of global natural graphite production (1.63 million MT). While China accounts for 78% of global output, its production is distributed across hundreds of small and medium-sized mines without publicly available individual mine data.
Data sources: USGS 2025, Syrah Resources, Tanzania Invest
Global Natural Graphite Mining Landscape Overview
The global natural graphite market is undergoing unprecedented transformation. According to the U.S. Geological Survey (USGS) Mineral Commodity Summaries 2025, global natural graphite production reached approximately 1.63 million metric tons in 2024, with China producing 1.27 million metric tons, commanding 78% of the global market share. China continues to maintain its absolute dominance in both graphite mining and refining.
China’s Market Dominance and Export Controls
China not only holds the world’s largest natural graphite reserves (81 million metric tons), but also controls approximately 90% of global graphite refining capacity. Notably, China implemented stricter graphite export controls in 2024. According to USGS data, during the first eight months of 2024, China’s flake graphite concentrate exports totaled 38,200 tons, down 25% from 50,700 tons in the same period of 2023. Spherical graphite exports reached 25,500 tons, declining 28% year-over-year. This policy shift is accelerating global supply chain diversification efforts.
The Rise of East Africa’s Emerging Graphite Hub
East Africa is becoming a critical force in global graphite supply. Mozambique, Madagascar, and Tanzania collectively hold 69 million metric tons of graphite reserves, representing 21% of global reserves. Madagascar in particular achieved remarkable growth, with 2024 production reaching 89,000 metric tons—a 41% increase from 2023—surpassing Mozambique to become the world’s second-largest producer.
The table below illustrates the production distribution of major natural graphite producing countries in 2024:
Rank | Country | 2024 Production (MT) | Global Share | Reserves (Million MT) |
1 | China | 1,270,000 | 78% | 81 |
2 | Madagascar | 89,000 | 5.5% | 27 |
3 | Mozambique | 75,000 | 4.6% | 25 |
4 | Brazil | 68,000 | 4.2% | 74 |
5 | South Korea | 27,000 | 1.7% | – |
6 | Russia | 16,000 | 1.0% | – |
7 | India | 11,500 | 0.7% | – |
8 | North Korea | 8,100 | 0.5% | – |
9 | Norway | 7,200 | 0.4% | – |
10 | Tanzania | 6,000 | 0.4% | 18 |
Data sources: USGS Mineral Commodity Summaries 2025, Investing News
Market Trends: Supply Chain Security as Core Priority
Fortune Business Insights projects that the global graphite market will grow at a compound annual growth rate (CAGR) of 6.9% between 2025 and 2032, reaching a market value of $13.35 billion by 2032. This growth is primarily driven by explosive demand from the lithium-ion battery sector. According to Benchmark Mineral Intelligence analysis, global battery industry graphite consumption has increased by 200% since 2019, with lithium-ion batteries surpassing the steel industry in 2024 to become the number one source of graphite demand.
Key Takeaway for Producers: Against the backdrop of China’s export restrictions, establishing diversified raw material sourcing channels has become a strategic imperative for anode material manufacturers. East African sources, South American resources, and emerging North American projects all deserve consideration in your supply chain planning. Understanding the specific characteristics of each major mine will help you achieve the optimal balance between material quality, supply stability, and cost control.
2. Major Operating Natural Graphite Mines Worldwide (Ranked by Capacity)
The following are the world’s major operating natural graphite mines with publicly disclosed capacity data from reliable sources. Rankings are arranged from highest to lowest annual capacity.
NO.1 Balama Mine, Mozambique – 350,000 MT/Year
The Balama Mine, located in the Namuno District of Cabo Delgado Province in northern Mozambique, is the world’s largest single operating graphite mine, operated by Australian-listed Syrah Resources.
Key Data:
- Annual Capacity: 350,000 metric tons of graphite concentrate
- Proven and Probable Reserves: 114.5 million metric tons of ore at an average TGC grade of 16.6%, containing 18.9 million metric tons of flake graphite
- Product Specifications: 94-98% fixed carbon content, 80% fine flake (-100 mesh)
- Mine Life: 50+ years
- C1 Cash Cost: US$430-480/MT (FOB Nacala/Pemba)
- Carbon Footprint: 0.42kg CO2 equivalent (Scope 1, 2 & 3)
Quality Characteristics: Balama produces 23 different natural graphite product specifications across eight different mesh sizes. With high large-flake content and consistent purity, the material is ideal for spherical graphite processing and battery anode material applications.
Operational Status: The mine has adjusted production multiple times due to market price fluctuations and regional security issues. Operations were suspended in December 2024 following post-election civil unrest, with production resuming in May-June 2025. The first shipment of 10,000 metric tons was exported in late July 2025.
Supply Agreements: Long-term offtake agreements signed with Tesla, Posco Future M, Lucid Group, Westwater Resources, Graphex Technologies, and other international customers.
Objective Assessment: Balama is a critical node in the global graphite supply chain, accounting for approximately 21% of total global production. However, purchasers should monitor the security situation in northern Cabo Delgado Province, which carries geopolitical risks. We recommend contracts include force majeure clauses for flexibility.
NO.2 Yunshan Graphite Mine, China – 200,000 MT/Year
The Yunshan Graphite Mine, located in Heilongjiang Province, China, is operated by China Minmetals and ranks as one of the world’s largest single graphite mines.
Key Data:
- Annual Production: 200,000 metric tons of graphite
- Product Types: Primarily flake graphite
- Industrial Integration: Complete value chain from mining and beneficiation to purification and spherical graphite processing
Geographic Advantage: Yunshan Mine is located at the core of China’s Jixi graphite industry cluster in Heilongjiang Province. This region also includes the Liumao Mine and Pingdu Mine, among China’s largest graphite deposits. The entire Jixi area’s graphite industry benefits from:
- Technical Maturity: Decades of mining and processing expertise
- Complete Value Chain: End-to-end capabilities from ore extraction to high-purity graphite and spherical graphite processing
- Cost Advantage: Economies of scale result in processing costs 20-30% lower than international peers
Supply Stability: As a large-scale mine operated by a state-owned enterprise, supply is relatively stable. However, note that China has implemented stricter graphite export controls since 2024, requiring export licenses for both flake graphite concentrate and spherical graphite.
Objective Assessment: Chinese mines offer significant advantages in cost and technology, serving as the primary raw material source for global anode material manufacturers. However, close monitoring of China’s export policies is essential, with diversified supply channels recommended as a complement.
NO.3 Lindi Jumbo Mine, Tanzania – 40,000 MT/Year
The Lindi Jumbo Mine, located in southeastern Tanzania approximately 200km from Mtwara deep-water port, is 100% owned by Australian company Walkabout Resources.
Key Data:
- Annual Capacity: 40,000 metric tons of graphite concentrate
- Measured + Indicated + Inferred Resources: 41.8 million metric tons of ore @ 10.8% TGC
- High-Grade Core: 5 million metric tons @ 22.5% TGC, containing 1,127,800 metric tons of graphite
- Mine Life: 24 years
- Projected C1 Cost: US$347/MT FOB Mtwara (based on 2017 Definitive Feasibility Study, representing Tanzania’s lowest projected cost; actual operating costs may vary due to changing market conditions)
- Capital Expenditure: US$27.8 million (Tanzania’s lowest)
Quality Characteristics: Lindi Jumbo’s greatest advantage is its exceptional large flake content. 75% of the concentrate consists of flakes larger than 180 microns (μm), with 25% exceeding 500 microns (+35 mesh), with purity >95% TGC. This “best in class” flake distribution commands premium pricing in the market.
Operational Status: The mine began commissioning in early 2024, with first shipments to Europe completed in May. As of June 2025, annual capacity has reached the designed 40,000 metric tons, marking Tanzania’s first major mine commissioning in 15 years. The operation currently employs 290 people, with 43% from surrounding villages.
Supply Agreements: Exclusive offtake agreement with Asian trading house Wogen for the first 5 years of production. Primary market is India, with expansion into China and Germany underway.
Objective Assessment: Lindi Jumbo is one of the most operationally stable projects among East Africa’s emerging mines, with its ultra-large flake content providing clear quality advantages. Tanzania offers a relatively stable political environment, representing the lowest risk among the three East African graphite-producing nations (Mozambique, Madagascar, Tanzania). Ideal for purchasers seeking high-quality large flake raw materials.
NO.4 Molo Mine, Madagascar – 17,000 MT/Year (Expanding to 150,000 MT)
The Molo Mine, located in Toliara Province in southern Madagascar, is wholly owned and operated by Canadian company NextSource Materials.
Key Data:
- Current Capacity: 17,000 metric tons per year of SuperFlake graphite concentrate
- Planned Capacity: 150,000 metric tons per year (phased expansion)
- Measured + Indicated Resources: 49.1 million metric tons of ore containing 4.9 million metric tons of graphite
- Mine Life: Approximately 14 years at current capacity, extendable with expansion
- Product Characteristics: SuperFlake brand, near-battery-grade purity
Quality Characteristics: Molo Mine’s SuperFlake graphite is renowned for ultra-large flake size and high purity. The excellent flake size distribution achieves 40-45% yield in spherical graphite processing (vs. industry average of 30-35%), significantly reducing processing costs.
Operational Status: Commercial production commenced in June 2023, with capacity steadily ramping up. First commercial shipments to the U.S. and German markets were completed in October 2024. The company is planning a spherical graphite processing facility to be located in Port Louis, Mauritius.
Objective Assessment: Molo is Madagascar’s most significant graphite project, with world-class product quality. Madagascar offers open mining policies and a relatively stable political environment, making it a reliable supply source in East Africa. However, as a newly commissioned mine, capacity ramp-up progress should be monitored.
NO.5 Santa Cruz Mine, Brazil – 12,000 MT/Year (Expanding to 50,000 MT)
The Santa Cruz coarse flake graphite mine, located in Bahia State, Brazil, is developed by South Star Battery Metals.
Key Data:
- Phase 1 Capacity: 12,000 metric tons per year of graphite concentrate
- Planned Capacity: Phases 2 and 3 can expand to 50,000 metric tons per year
- Product Characteristics: Coarse flake graphite
Operational Status: Phase 1 commercial production began in October 2024, marking Brazil’s first new graphite mine commissioning in recent years.
Strategic Significance: Brazil holds the world’s second-largest graphite reserves (74 million metric tons), yet 2024 production was only 68,000 metric tons, down from 82,000 metric tons in 2021. The commissioning of projects like Santa Cruz signals a revival of Brazil’s graphite industry.
Objective Assessment: Brazil offers mature mining regulations and a stable political environment, serving as Latin America’s only major graphite producer. The Santa Cruz project has just commenced production with capacity still ramping up, making it suitable for cultivation as a medium to long-term strategic supply source.
NO.6 Sahamamy Mine, Madagascar – 18,000 MT/Year (Currently Under Care and Maintenance)
The Sahamamy Project, located in Madagascar, is operated by UK-listed Tirupati Graphite.
Key Data:
- Built Capacity: 18,000 metric tons per year (commissioned in 2022)
- Mining Rights: 8 square kilometers with a 40-year mining permit
- Product Mix: 50% Jumbo grade, 35% Large grade, 15% Small grade flakes
- Product Purity: >97%C with >85% recovery
Operational Status: A 3,000 MT/year plant was commissioned in 2019, followed by a modern 18,000 MT/year facility in 2022. The operation has been under care and maintenance since late 2024, with the company evaluating expansion plans.
Objective Assessment: Sahamamy’s product comprises predominantly ultra-large flakes (Jumbo+Large representing 85%), with excellent quality. However, operations are currently suspended, and operator Tirupati has recently experienced management turbulence and financial restructuring. Potential purchasers should await operational stabilization before evaluation.
NO.7 Vatomina Mine, Madagascar – 8,000 MT/Year
The Vatomina Project is also operated by Tirupati Graphite, located just 8km from Sahamamy, with the two projects connected by a dedicated road.
Key Data:
- Current Capacity: Approximately 8,000 metric tons per year
- Resource: 852,000 metric tons of contained graphite
- Product Purity: >96% TGC
- Mine Life: Approximately 14 years (based on original planned capacity of 63,000 MT/year)
Operational Status: Construction began in 2021, with production restarting in 2024. Following stabilization in August 2024, 165 metric tons of graphite concentrate were produced over seven consecutive days, representing an annualized capacity of approximately 7,778 metric tons, close to rated capacity. March 2025 production was 388 metric tons, slightly below target, with the company optimizing ore grades and adding pre-concentration equipment.
Objective Assessment: Vatomina delivers excellent product quality but with relatively small capacity scale. Similar to Sahamamy, close attention should be paid to improvements in Tirupati’s overall operations and financial condition.
Capacity Comparison Summary
Rank | Mine | Location | Operator | Annual Capacity (MT) | Operational Status | Data Source |
1 | Balama | Mozambique | Syrah Resources | 350,000 | Operating | |
2 | Yunshan | China | China Minmetals | 200,000 | Operating | |
3 | Lindi Jumbo | Tanzania | Walkabout | 40,000 | Operating | |
4 | Molo | Madagascar | NextSource | 17,000→150,000 | Operating, Expanding | |
5 | Santa Cruz | Brazil | South Star | 12,000→50,000 | Newly Commissioned | |
6 | Sahamamy | Madagascar | Tirupati | 18,000 | Care & Maintenance | |
7 | Vatomina | Madagascar | Tirupati | 8,000 | Operating |
Total Disclosed Capacity: Approximately 645,000-665,000 MT/year (excluding Sahamamy’s idle capacity)
Percentage of Global Production: Approximately 40% (2024 global production: 1.63 million MT)
Note: These seven mines represent the world’s major operating natural graphite mines with publicly available and verifiable capacity data. While China accounts for 78% of global production (1.27 million MT), this output is distributed across hundreds of small to medium-sized mines, most operated by private enterprises without publicly disclosed individual mine production data.
Procurement Recommendations for Anode Material Manufacturers
Supply Chain Strategy:
- Bulk Base Procurement (50-60%):
- Chinese sources (Yunshan, etc.): Most cost-effective, technically mature, complete value chain
- Risks: Export control policies; establish long-term partnerships and maintain advance inventory
- High-Quality Supplementation (20-30%):
- Balama: World’s largest, most diverse product specifications
- Lindi Jumbo: 75% ultra-large flake content, low cost
- Molo: SuperFlake brand, high spheroidization yield
- Risk considerations: Geopolitical factors (Balama), capacity ramp-up progress (Molo, Lindi Jumbo)
- Strategic Diversification (10-20%):
- Santa Cruz: South America’s only major source, politically stable
- Monitor emerging North American and Australian projects
- Objective: Reduce regional concentration risk
Quality-Application Matching:
- Premium Anode Materials: Lindi Jumbo (75% large flake), Molo (SuperFlake)
- Standard Anode Materials: Chinese sources, Balama
- Cost-Sensitive Applications: Chinese sources (complete value chain, 20-30% lower processing costs)
Risk Alerts:
- Monitor operational stability at Balama and Tirupati mines
- Track capacity ramp-up progress at newly commissioned mines (Santa Cruz, Molo)
- Continuously monitor Chinese export policies; recommend establishing stable partnerships with traders
Conclusion
Understanding global mine resource distribution is only the first step in optimizing your supply chain. The real challenge lies in: How do you efficiently transform natural graphite raw materials from different mines with varying qualities into spherical graphite anode materials that meet the stringent standards of battery manufacturers?
This requires:
- Precise raw material selection: Matching flake size, purity, and crystal structure to specific application scenarios
- Stable processing technology: Full-process quality control from crushing, spheroidization, purification to coating
- Flexible production line design: Capable of adapting to multiple raw material sources to handle supply chain fluctuations
- Complete EPC capabilities: One-stop delivery from equipment selection and production line layout to commissioning and start-up
As an integrated equipment and solution provider specializing in natural graphite for anode materials, we not only manufacture equipment—we understand how to design the most suitable production solutions for you based on mine raw material characteristics.