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Graphex Group Limited (NYSE American: GRFX) and Northern Graphite Corporation (TSXV: NGC) have signed a non-binding Letter of Intent to form a Joint Venture to address the supply-demand gap for graphite anode materials in the EV industry.
The collaboration aims to integrate Northern's raw material supply with Graphex's processing expertise, producing up to 15,000 tonnes annually from a site in Warren, Michigan, alongside Northern's potential 200,000 tonnes in Canada.
Both companies aim to establish a domestic supply chain and respond to market demands for battery-grade graphite.
