Following a scoping study, the company has verified the potential of producing material for use in lithium-ion batteries by value-adding graphite concentrate from the Maniry Project in Madagascar.

The study discovered that a Battery Anode Material (BAM) plant in Europe would provide significant returns by converting graphite concentrate from Maniry into uncoated spheronised purified graphite (SPG) for use in lithium-ion batteries.

The study examined five different process routes and two throughput rates to determine the capital investment required to support a 30,000 t/y production rate ($117 million) or a 15,000 t/y production rate ($74 million).

The larger project has a pre-tax net present value of $392 million compared to the smaller project’s $152 million, with varying internal rates of return.


The proposed plant could position the company to capitalise on the growing demand for non-Chinese uncoated SPG supplies from the European lithium-ion battery market.


By developing a vertically integrated graphite business, Evion aims to benefit from the favourable supply-demand dynamics for its products as a result of the energy transition.

The company intends to conduct comprehensive test work on Maniry concentrate to improve the process flow sheet, optimize reagent schemes, and understand waste stream characteristics.

Evion will also proceed with site selection studies, explore infrastructure options, create product data sheets, and initiate marketing activities.


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