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Northern Graphite restructures debt, advances Saudi battery anode plant and mine restarts amid graphite supply growth.

Company Fundamentals
02 Jun 2026
Newsfile Corp
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Bullish
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Northern Graphite Corporation restructured its senior secured debt with Sprott Streaming, strengthening its financial position. The company advanced its joint venture with Obeikan Investment Group to develop a $200 million Battery Anode Material facility in Saudi Arabia, supporting its mine-to-battery strategy. Operations at the Lac des Iles mine in Quebec remain paused for maintenance ahead of a 2026 pit expansion, with mining expected to resume in Q3 2026. Northern is also relocating its processing plant to restart the Okanjande mine in Namibia by late 2027, aiming to supply graphite anode materials globally outside China. These steps position Northern as a key supplier in the growing graphite market, driven by demand for electric vehicle batteries and industrial uses.

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