Africa’s Largest Graphite Mine Secures Seven-Year Supply Deal with Canada’s NextSource. Maputo, Mozambique — March 2, 2026 Australia’s Syrah Resources has announced a significant seven-year supply agreement with Canada’s NextSource Materials.
The deal pertains to the shipment of graphite from Mozambique’s Balama mine, which is Africa’s largest graphite mine.
The agreement is expected to bolster the graphite supply chain, with Balama mine’s graphite set to be a key component. Graphite is a crucial material used in the production of lithium-ion batteries, which are vital for the burgeoning electric vehicle (EV) and renewable energy sectors.
According to regional officials, the partnership will not only strengthen the economic ties between Australia and Canada but also enhance Mozambique’s position as a leading producer of graphite in Africa.
The supply deal comes at a time when the global demand for graphite is on the rise, driven by the increased adoption of EVs and the growing need for energy storage solutions.
The Balama mine has been a major contributor to the global graphite market, and this new agreement is poised to further solidify its role. Syrah Resources and NextSource Materials have not disclosed the financial details of the deal, but industry analysts suggest that the agreement could be worth billions of dollars over the seven-year period.
Further details regarding the implementation of the supply agreement are expected to be announced in the coming weeks.
For now, the deal represents a significant milestone for the mining industry in Mozambique and for the global market for graphite.
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Source: Africa.
