Technology Fuels Demand for Graphite

Today, ABC News reported that rising demand for graphite used to power batteries in electric vehicles has spurred one of the largest waves of mining activity in years. Beyond powering America’s fleet of next-generation vehicles, the surge in graphite production will lead to a wealth of job creation and economic benefits in the communities where these mines operate.

In 2011, a record 1.15 billion metric tons of graphite was needed to meet U.S. steel-makers’ and other users’ demands.  With the promise of expanded use of lithium-ion batteries – increasingly used in electric cars, cell phones and tablet computers – and the discovery of an active U.S. high-grade graphite site with 285 million metric tons, many mining companies are optimistic at the prospect of expanding U.S. graphite production. Vital to a range of new technologies, graphite’s industrial demand could comprise a $13 billion industry.

For more on America’s new graphite boom, read the full article here.