South Star Battery Metals (TSXV:STS,OTCQB:STSBF) CEO and Director Richard Pearce is confident graphite demand will continue to rise and consequently drive domestic production in Europe and North America, effectively disrupting China’s supply dominance.
“There’s nothing out there that is going to substitute graphite at least in the next seven to 10 years,’ Pearce said. ‘The trillions of dollars that we’re sinking into this, every battery factory that’s being built right now, is based on traditional sorts of chemistries and design. So again, an exciting time for us. We’re bringing the first new graphite production to the Americas.’
While China holds 65 percent of the world’s graphite concentrate production, Asia has a 100 percent share of the midstream and downstream processing market, according to Pearce. “I think as we move through the next five to 10 years, there will be a real focus on shoring, bringing the production back to Europe, the US, Canada, Mexico … South Star is well positioned to take advantage of those trends.”
South Star Battery Metals recently announced that Phase 1 construction at its Santa Cruz graphite project in Brazil is on budget and on schedule, with commercial production planned at the end of 2023. The company also completed a 2023 drilling campaign at its BamaStar graphite project in Coosa County, Alabama.
Watch the full interview with South Star Battery Metals CEO and Director Richard Pearce above.
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