Northern Graphite has once again said it plans to restart the Okanjande graphite project in Namibia, which has been on care and maintenance since the third quarter of 2023. The company believes the deposit represents an opportunity to substantially increase graphite production at a lower cost and with a shorter time to market than most competing projects.
The Okanjande project enjoys easy maritime access to European and North American markets, making it well-positioned to feed Northern’s planned Battery Anode Material (BAM) facilities in France and at Baie-Comeau, Quebec. The mine is expected to play a central role in the company’s strategy to become one of the world’s largest non-Chinese natural graphite producers.
Northern Graphite continues to explore funding options for the restart. The company has indicated it is evaluating a combination of royalty, stream, and debt structures, as well as equity contributions from a strategic partner, rather than raising funds through traditional share market offerings at current prices.
A preliminary economic assessment (PEA) prepared under NI 43-101 standards was filed on SEDAR+ on August 28, 2023. The PEA outlined attractive economics under a plan to relocate the processing plant from Okorusu to the Okanjande mine site. While the relocation would raise upfront capital costs, it is expected to lower long-term operating costs, reduce greenhouse gas emissions, improve sustainability, and significantly enhance the project’s expansion potential.
The company plans to restart production in the first half of 2027, subject to securing financing, aligning with its plans to supply graphite to its French BAM facility. With Okanjande back in operation, Northern Graphite would establish itself as one of the largest graphite producers outside China — a strategically important development at a time when global supply chains are under pressure to diversify sources of critical minerals for electric vehicles and energy storage.
