Northern Graphite Targets 2028 Production With $200M Saudi Anode Project

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.Don’t forget to subscribe to the Kitco Mining & Kitco News YouTube channels to stay up to date on the latest industry news and interviews.00:16 – Northern Graphite’s $200 Million Battery Anode Deal01:56 – JV Structure, Capacity, and Project Timeline03:36 – Why Saudi Arabia Is Strategic for Battery Materials04:53 – Scaling Battery Anode Plants Across Regions08:33 – Graphite Pricing and China vs Ex-China Markets11:46 – Geopolitics and the Push for Ex-China Supply Chains__________________________________________________________________Kitco Mining is dedicated to reporting on the mining industry. Our mandate is to be the top resource for all mining information and news, offering a clear perspective on where the industry is going through breaking news coverage, mining trends, and in-depth reporting, presented with precious, rare earth, base metals, and industry stock prices.Get important precious and base metal updates while on the go with the Kitco Gold LIVE! app - https://applications.kitco.comStay connected with usX - https://x.com/KitcoMiningInstagram - https://www.instagram.com/kitcominingLinkedIn - https://www.linkedin.com/company/kitco-miningFacebook - https://www.facebook.com/KitcoMiningConnect with the Kitco Mining anchorsPaul Harris - https://x.com/paulharrisgold For more in-depth mining coverage, visit us here - https://www.kitco.com/miningDisclaimer: The views expressed in this podcast are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this podcast do not accept culpability for losses and/ or damages arising from the use of this publication.