EcoGraf, POSCO International ink non-binding anode development agreement

Australian graphite producer EcoGraf has entered into a non-binding cooperation agreement with POSCO international (Posco) for the development of an integrated anode supply chain which would cover flake graphite mining to downstream anode production

The two companies made definitive arrangements for the sale and purchase of EcoGraf’s battery anode material for an initial term of ten years from the commencement of production of said material.

Presently, no further details regarding the effective date of the agreement or purchase prices are available.

EcoGraf’s supply of anode materials to Posco is expected to reach 7,500-12,500 tonnes in the first year, which will increase to 12,500 -20,000 tonnes per year from the second to the fifth year and 20,000-40,000 tonnes per year from the sixth to the tenth, the company said.

Aside from the sale and procurement of anode materials, the two companies will collaborate on the development of a supply chain which would span from upstream graphite mining to downstream application. This includes the development and expansion of the Epanko and Merelani-Arusha graphite projects in Tanzania.

Additionally, there will be cooperation in terms of spherical graphite production and hydrofluoric acid free purification of the spherical graphite produced.

“EcoGraf’s breakthrough recovery of battery anode material using its EcoGraf™ purification process will enable battery supply chain customers to reduce their [carbon dioxide] emissions and lower battery costs,” the company said.

The non-binding arrangement with EcoGraf marks another move by Posco to diversify its supply chain of anode raw materials in regions outside of China in recent years.

The agreement is also in line with the current global trend of supply chain localization in regions outside of China, which has been brought to the forefront following disruptions caused by Covid-19 and other geopolitical factors such as the United States’ Inflation Reduction Act

Fastmarkets’ price assessment for graphite flake 94% C, -100 mesh, fob China was $670-715 per tonne on Thursday May 25, down by 0.36% from the week prior.

The price of -194 flake fines has dropped by 16.57% since the start of the year amid slow demand in downstream new energy vehicles sector.

Meanwhile, the price of graphite spherical 99.95% C, 15 microns, fob China has dropped by 18.87% within the same period to $2,000-2,300 per tonne, on May 25, the lowest level since Fastmarkets started to price the material in March 2012.

On May 30, another Tanzanian graphite company, Black Rock Mining, agreed a binding offtake deal with Posco, including a prepayment of $10 million, to feed the South Korean conglomerate’s growing anode business.

Understand the dynamics of the graphite market

Keep up with the latest news, market intelligence and trends in the graphite market when you visit our dedicated graphite market page.

Get an in-depth, 10-year view into where and when graphite supply will come online with our graphite long-term forecast.

What to read next
Despite the current headwinds, strategic partnerships and continued investment in the right areas, coupled with the underlying strong long-term demand fundamentals, will pave the way for success for lithium producers, according to the participants of the executive panel during the Fastmarkets Lithium Supply and Battery Raw Materials Conference, which took place from June 23-26 in Las Vegas, Nevada.
The US needs well-defined and stable policy around critical minerals, energy transition and trade, while derisking projects and maintaining good relations with other countries to be able to establish sustainable electric vehicle (EV) and energy storage systems (ESS) supply chains in North America, according to industry experts.
The US and Europe must adopt long-term, consistent policies and should learn lessons from China, according to lithium industry experts speaking at Fastmarkets’ Lithium Supply and Battery Raw Materials Conference in Las Vegas, US, over June 22-25.
Producers in Arkansas' Smackover Formation are advancing lithium extraction projects following recent regulatory approvals. Supported by oil and gas expertise and state incentives, the region is positioning itself as a key player in the US lithium supply chain.
Battery recyclers remain under pressure, with tight margins among black mass producers and refiners amid a host of challenges for the industry, according to delegates at Fastmarkets Lithium Supply and Battery Raw Materials Conference 2025, which took place in Last Vegas, Nevada, from June 23-26
The 2025 Fastmarkets Lithium Conference in Las Vegas highlighted critical issues shaping the battery supply chain, including lithium oversupply, funding struggles and the need for midstream investment. Discussions also emphasized the importance of interdependence with China and the challenges faced by recyclers amid policy uncertainty and market headwinds.