Estimated production in graphite from existing and announced projects outside top refiners, 2035

Notes

Supply estimates are for base case. The top refiners include Indonesia and China for nickel and China for others. For downstream sectors, the values respectively reflect the contained volume of lithium (in kt Li equivalent), spherical graphite (in kt battery-grade equivalent) and rare earths (in kt REE equivalent) in battery cathodes, battery anodes and permanent magnets manufactured. Graphite mining is in kt battery-grade equivalent, accounting for processing losses.