Canadian junior miner Focus Graphite has updated the mineral resource estimate (MRE) for its Lac Tetepisca project in Quebec, outlining what the company describes as one of the world’s largest identified graphite deposits at a time of mounting concern over Western battery mineral supply chains.
The revised NI 43-101-compliant estimate defines 120.16 million tonnes of indicated resources grading 10.27% graphitic carbon (Cg), alongside 24.14 million tonnes of inferred resources at 9.88% Cg. The estimate was calculated using a 3.5% Cg cut-off grade and a graphite concentrate price assumption of $1,200/t.
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The updated resource materially expands the scale of the Lac Tetepisca asset beyond the 74.2Mt resource base referenced in GlobalData’s May 2025 report, Global Graphite Mining to 2035, where the project was already identified as one of the larger graphite exploration assets globally.
The resource update comes amid accelerating demand forecasts for natural graphite tied to electric vehicle (EV) batteries and growing geopolitical pressure to diversify supply away from China.
According to GlobalData’s report, global natural graphite production is forecast to grow at a compound annual growth rate (CAGR) of 15.6% between 2025 and 2030, reaching 3.78 million tonnes annually by the end of the decade.
The report also notes that China currently accounts for more than 80% of global natural graphite production and around 90% of battery anode material manufacturing, underscoring strategic concerns among North American and European policymakers over supply concentration.
Focus Graphite’s Lac Tetepisca project is located within the company’s Manicouagan-Ouest Graphitic Corridor (MOGC) in Quebec, a region increasingly viewed as strategically important for future North American battery material supply. GlobalData identified Canada among the countries expected to contribute to rising graphite output through 2030, alongside Mozambique, Tanzania and Australia.
The MRE update incorporates data from 150 drill holes totalling 26,095m completed between 2014 and 2022, including nearly 9,628m drilled during the company’s 2022 campaign. The deposit remains open at depth and to the southwest, with Focus highlighting additional expansion potential across untested electromagnetic and magnetic anomalies.
Quebec-based consultancy IOS Geosciences prepared the estimate and will file the supporting technical report on SEDAR+ within 45 days.
Focus Graphite is also advancing AI-enabled graphite flake characterisation technologies intended to improve the speed and cost efficiency of analysing flake size distribution, a commercially important parameter in battery-grade graphite pricing. According to GlobalData, flake graphite commands materially higher pricing than amorphous graphite because larger flake sizes are critical for lithium-ion battery applications.
The timing of the update reflects broader structural shifts across the graphite market. GlobalData forecasts EV sales will surpass 37 million units in 2025, with graphite demand expected to rise sharply as battery production scales globally. The report further notes that graphite remains the dominant anode material in lithium-ion batteries, accounting for more than 95% of anode composition across major battery chemistries.
At the same time, export restrictions imposed by China on certain graphite products since late 2023 have intensified interest in alternative supply jurisdictions. GlobalData said the measures have introduced uncertainty into international graphite markets and are expected to support higher prices in 2025 amid strengthening battery mineral demand.
Focus Graphite also said dolomitic marble identified within the project’s hanging wall could potentially be used to mitigate acid generation in future tailings storage facilities. Further metallurgical and acid buffering studies are ongoing.
