International Graphite Ltd (ASX:IG6, FRA:H99, OTC:IGRPF) has signed a binding joint venture and shareholders’ agreement with Alkeemia S.p.A. to develop a major graphite processing hub at Alkeemia’s Porto Marghera chemical production facility near Venice, Italy.

The agreement gives IG6 a fast-track route into European graphite processing, using Alkeemia’s established industrial platform, including permitting, warehousing, laboratories, control rooms, waste management, port and rail access, an operating workforce and graphite purification capacity being built on site.

Co-location and infrastructure access at Alkeemia’s Porto Marghera facility.

“Alkeemia has developed advanced graphite purification technology, which together with our position as a leading global HF producer, creates a unique opportunity to establish an integrated mid-stream graphite processing platform at Porto Marghera, combining purification and downstream graphite processing within a single industrial ecosystem. We look forward to building this important graphite processing hub, at Porto Marghera, together with our partners International Graphite,” Alkeemia CSO Yoshi Uenishi said.

Under the deal, Alkeemia will hold 51% of the JV and IG6 49%, with profits to be shared equally.

IG6 managing director and CEO Andrew Worland said the agreement marked “a defining moment” for the company, achieved in less than six months.

“This agreement marks a defining moment for IG6 achieved in less than six months - a pace that reflects the genuine strength of alignment between our two companies and the scale of the European critical minerals opportunity that is in front of us.”

Fast-track processing plan

The proposed hub will initially target 10,000 tonnes per year of production capacity, with plans to expand to around 15,000 tonnes per year within three years.

IG6 will fund the capital required for the first 10,000 tonnes per year, while the expansion is expected to be funded from JV operations.

Alkeemia will contribute access to land and site infrastructure, manage permitting and provide operational services under an operations management agreement.

“This agreement represents a fundamental milestone not only for Alkeemia, but more broadly for the development of a true European supply chain for critical raw materials, and graphite in particular," Alkeemia CEO Lorenzo Di Donato said.

“Europe must accelerate its industrial autonomy in critical raw materials by progressively reducing dependence on external supply chains and building more sustainable, efficient, and resilient local production capabilities.

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“Today, the market is demanding a continental supply chain capable of ensuring security of supply, competitiveness, and high environmental standards. Porto Marghera offers unique industrial, logistical, and energy advantages and is increasingly confirming its strategic role in the development of Europe’s new energy transition value chains. This joint venture represents a concrete acceleration of the industrial path that Alkeemia has undertaken in recent years.”

'Processing-first' strategy

For IG6, the deal supports its “processing-first” strategy and gives the company access to an existing European industrial chemical ecosystem, which is expected to reduce capital intensity and operating costs.

The location is also strategically important, with Porto Marghera offering established port, rail, energy and chemical infrastructure as Europe seeks to build more secure domestic supply chains for critical raw materials, including graphite.

The immediate focus of the JV is to finalise business plans, engineering and design cost estimates, and key construction and operating agreements to support final investment decisions.

IG6 said technical studies were being completed to provide financial guidance for the proposed facilities and support project financing and a final investment decision.

Funding options under review include project finance, EU critical minerals funding programs and cornerstone equity investors.

Construction is planned to begin in the third quarter of 2026, subject to final investment decision, with first production targeted for the second half of 2027.

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