GBM hires lamgold CEO to lead restart of Kearney Graphite Mine in Ontario
2026-05-07 10:47:02 [Print]
Privately held Global Battery Materials (GBM) aims to bring Ontario's long-dormant Kearney graphite mine back into operation within less than two years, seeking to capitalize on an anticipated surge in demand for the mineral as North American calls for domestic supply grow louder.
The Kearney mine, which has been closed since 1994, could initially produce 23,000 tonnes of carbon graphite annually starting in 2028, with the potential to ramp up to 50,000 tonnes, according to CEO Eric Miller. GBM has engaged engineering firm WSP to revise a 2018 feasibility study, with an updated version expected by fall, Miller said. The Toronto-based company is also exploring the construction of an anode material plant somewhere in North America.
Global graphite demand is forecast to grow by 9% annually between 2025 and 2035, according to Benchmark Mineral Intelligence. Demand for natural flake graphite alone is expected to more than double to nearly 3 million tonnes by 2035, requiring the development of roughly 30 new mines to meet the shortfall.
Located west of Algonquin Provincial Park, approximately 280 kilometers north of Toronto, Kearney is considered one of the largest flake graphite deposits outside of China.
The mine first opened in 1989 and processed nearly 1 million tonnes of ore before being shuttered five years later amid depressed graphite prices. It has remained in care and maintenance ever since.
According to previous owner Ontario Graphite in 2020, Kearney holds 23 million tonnes of proven and probable reserves grading 1.95% carbon graphite. The site also contains 61.8 million measured and indicated tonnes grading 1.99% carbon graphite, and 59.2 million inferred tonnes grading 1.88% carbon graphite.
Ontario Graphite owned the mine until filing for creditor protection in 2020, after which the property was sold to G6 Energy. GBM acquired G6 Energy's assets last year.
Miller said GBM's planned anode material plant would have an annual processing capacity of approximately 50,000 tonnes, with room for future expansion. With Kearney scheduled to start graphite production in early 2028, anode material production could begin toward the end of that year, followed by a ramp-up in 2029.
The Kearney mine, which has been closed since 1994, could initially produce 23,000 tonnes of carbon graphite annually starting in 2028, with the potential to ramp up to 50,000 tonnes, according to CEO Eric Miller. GBM has engaged engineering firm WSP to revise a 2018 feasibility study, with an updated version expected by fall, Miller said. The Toronto-based company is also exploring the construction of an anode material plant somewhere in North America.
Global graphite demand is forecast to grow by 9% annually between 2025 and 2035, according to Benchmark Mineral Intelligence. Demand for natural flake graphite alone is expected to more than double to nearly 3 million tonnes by 2035, requiring the development of roughly 30 new mines to meet the shortfall.
Located west of Algonquin Provincial Park, approximately 280 kilometers north of Toronto, Kearney is considered one of the largest flake graphite deposits outside of China.
The mine first opened in 1989 and processed nearly 1 million tonnes of ore before being shuttered five years later amid depressed graphite prices. It has remained in care and maintenance ever since.
According to previous owner Ontario Graphite in 2020, Kearney holds 23 million tonnes of proven and probable reserves grading 1.95% carbon graphite. The site also contains 61.8 million measured and indicated tonnes grading 1.99% carbon graphite, and 59.2 million inferred tonnes grading 1.88% carbon graphite.
Ontario Graphite owned the mine until filing for creditor protection in 2020, after which the property was sold to G6 Energy. GBM acquired G6 Energy's assets last year.
Miller said GBM's planned anode material plant would have an annual processing capacity of approximately 50,000 tonnes, with room for future expansion. With Kearney scheduled to start graphite production in early 2028, anode material production could begin toward the end of that year, followed by a ramp-up in 2029.
Expansible Graphite 99 80 250 EXW China
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China's flake graphite producers' operating rate statistics by province by month
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