Episode Details

Northern Graphite (TSXV: NGC) CEO Hugues Jacquemin joins Kitco Mining’s Paul Harris at Future Minerals Forum 2026 in Riyadh just minutes after signing a $200 million agreement to build a battery anode materials plant in Saudi Arabia.

Jacquemin outlines how the joint venture with Obeikan Investment Group came together after a year of work, saying, “We spent about a year working together on crafting the deal.” Phase one is designed to produce about 25,000 tons per year of battery anode material, is fully scalable, and targets a final investment decision in Q3 2026, with production expected by early 2028.

The plant will be supplied with graphite concentrate from Northern Graphite’s Okanjande mine in Namibia, which is set to restart and expand production. Jacquemin explains why Saudi Arabia offers key advantages, including faster timelines, lower energy costs, strong industrial infrastructure, and access to European, Asian, and Middle Eastern markets.

He also discusses qualification progress with global battery manufacturers, growing geopolitical pressure to secure ex China battery supply chains, and a widening price gap between China and non China graphite markets. Jacquemin says the Saudi facility is intended to serve as a model for future battery materials plants in North America and Europe.

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00:16 – Northern Graphite’s $200 Million Battery Anode Deal
01:56 – JV Structure, Capacity, and Project Timeline
03:36 – Why Saudi Arabia Is Strategic for Battery Materials
04:53 – Scaling Battery Anode Plants Across Regions
08:33 – Graphite Pricing and China vs Ex-China Markets
11:46 – Geopolitics and the Push for Ex-China Supply Chains
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