The European Bank for Reconstruction and Development (EBRD) has made its initial direct equity investment in Central Asia's graphite and critical raw materials sector. The EBRD acquired a 17.36% stake in Sarytogan Graphite, a company listed on the Australian Securities Exchange. The investment, amounting to AUD 5 mn ($3.3mn), will support the development program of Sarytogan Graphite, including the preparation of a feasibility study and funding for working capital.
Graphite is classified as a critical raw material (CRM) by the European Union with significant importance across multiple industries. Its applications include the following:
- Electric vehicle batteries: Graphite is a critical component in lithium-ion batteries, which power electric vehicles (EVs). Its high energy density and conductivity are key factors that enhance battery performance and longevity.
- Electric power industry: Graphite is utilized in power generation, including its application in nuclear reactors and fuel cells.
- Metallurgy: Graphite functions as a lubricant and refractory material in various metallurgical processes.
- Green economy transition: As nations advance towards greener economies, graphite's importance is further elevated due to its integral role in clean energy technologies.
The Sarytogan graphite deposit, located in the Karaganda region of central Kazakhstan, is among the largest known graphite deposits globally. This project positions the Sarytogan deposit as a potential major supplier of natural graphite in the region and internationally.
This investment aligns with the EBRD's recently updated mining sector strategy, which underscores the mining industry's vital role in fostering greener economies. The strategy supports the exploration, development, production, and processing of metals and minerals that are essential for the green and digital transitions and the advancement of new technologies.
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