Norge Mining Set to Acquire Europe's Largest Graphite Mine, Skaland, from MRC

Norge Mining

Norge Mining, based in London, has announced its plan to purchase Skaland Graphite, Europe's largest natural graphite mine, from Australia's Mineral Commodities (MRC). This strategic acquisition is aimed at meeting the escalating demand for battery-grade graphite, essential for the burgeoning electric vehicle market and other green technologies.

Expanding into Battery-Grade Graphite Production

Located on the island of Senja, approximately 200 kilometers from Tromsø, Norway, Skaland Graphite currently has an annual output of about 10,500 tons, primarily serving industrial customers. With this acquisition, Norge Mining not only plans to continue serving these established markets but also to expand into the production of battery-grade graphite. The company is optimistic about the potential for significant resource expansion at Skaland, with the last estimated mineral resource in 2021 showing 1.84 million tons at 23.6% total graphitic carbon.

Strategic Importance Amidst Global Supply Chain Concerns

The acquisition, expected to be finalized in the first quarter of 2025 following customary conditions and regulatory approvals, comes at a critical time. Graphite has been designated as a strategic raw material by the EU in 2023, highlighting its vital role in the green energy transition. Moreover, recent export controls on graphite by China, effective from December 2023, have underscored the urgent need to diversify supply chains and mitigate geopolitical risks. This acquisition by Norge Mining is poised to enhance Europe's graphite self-sufficiency and secure a stable supply for essential technologies.

In addition to the Skaland project, Norge Mining is actively developing several early-stage deposits in southwest Norway, which are rich in raw materials crucial for producing vanadium, phosphate, phosphorus, and titanium—further contributing to its portfolio of critical minerals.