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Top 5 ASX-Listed Graphite Companies Projected for 2025

Graphite plays a significant role beyond pencil lead, serving as a crucial component in lithium-ion batteries due to its high electrical conductivity and rapid charging capabilities. This could potentially lead to a surge in demand for graphite, given the growing emphasis on electric vehicles...

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Top ASX Graphite Companies in 2025: A Look at the Heavyweights
Top ASX Graphite Companies in 2025: A Look at the Heavyweights

Top 5 ASX-Listed Graphite Companies Projected for 2025

In the world of graphite, a critical component in battery anodes, Australia is making significant strides. One such company leading the charge is Renascor Resources, which recently received a AU$5 million grant under the Australian government's International Partnerships in Critical Minerals Program. This funding, along with a AU$185 million loan facility approved by the government, will help advance the up-stream graphite concentrate operation at Siviour.

The concentrate, produced at a graphite facility in China using Renascor's flowsheet, will serve as feedstock for the PSG demonstration plant. Notably, this concentrate exceeded the parameters set out in the Siviour DFS, with a carbon content of 95 percent and a recovery rate of 95.5 percent. The project is fully permitted and development-ready, with a binding offtake agreement with a major European trading group for 50 percent of its production for a minimum of five years.

As of July 29, 2025, the largest graphite-focused companies on the ASX by market capitalization are:

  1. Sovereign Metals (SVM): With a market cap of approximately $472 million, Sovereign Metals is advancing the Kasiya rutile-graphite project in Malawi, focusing on resource development and production scale-up.
  2. Syrah Resources (SYR): Syrah Resources, with a market cap of around $391 million, operates the Balama graphite mine in Mozambique with a lifespan exceeding 50 years. The company's Vidalia anode materials plant in Louisiana, US, is ramping up production and has potential for expansion. Syrah Resources holds strategic offtake agreements with several EV leaders, including Tesla and Lucid Motors.
  3. EcoGraf (EGR): EcoGraf, with a market cap of approximately $150 million, is focusing on graphite product development for lithium-ion batteries and advanced manufacturing. Despite being pre-revenue, the company boasts a strong financial position and no debt, although its cash runway is limited to about 1.2 years.
  4. Kingsland Global (implied): Although not explicitly listed, Kingsland Global is a significant ASX graphite player, owning the world-scale Leliyn graphite deposit near Darwin. The company is preparing a scoping study for the mine and processing, with test work ongoing to validate battery applicability. Market interest in Kingsland Global has increased due to US tariffs on Chinese graphite imports, positioning the company to capitalize on increased demand for non-Chinese graphite.

Notable among these companies is Syrah Resources, the first integrated graphite processor outside China with its Vidalia facility producing active anode material. The company also holds multiple strategic offtake agreements, including with EV leaders Tesla and Lucid.

Meanwhile, the average electric passenger car uses about 66 kilograms of graphite in its anodes. With these initiatives, companies like Renascor Resources and those listed on the ASX are poised to make significant contributions to the global graphite market.

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