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Norge Mining announced on December 16 its acquisition of Skaland Graphite AS, Europe’s largest natural graphite producer, through Norwegian subsidiary Norge Mineraler Holding AS. The Skaland operation, located on the Arctic island of Senja 200 kilometers north of Tromsø, produces 10,500 tonnes of graphite annually and ranks among the world’s top producers outside China. The deal, valued at an undisclosed amount, comes months after China implemented new graphite export controls and the EU reclassified graphite as a Strategic Raw Material. Norge Mining expects to close the acquisition in Q1 2025. (Arctic Today)
This acquisition represents an important step in Europe’s efforts to achieve strategic autonomy in critical minerals. With China controlling 74% of global graphite anode production and implementing tighter export restrictions, Skaland’s role as Europe’s sole major graphite producer holds strategic value despite its relatively modest output. The timing of the deal, following China’s export controls and the EU’s designation of graphite as a Strategic Raw Material, reflects a broader shift in how Arctic resources are integrated into global supply chains. Beyond traditional Arctic extractive industries like oil and gas, the transaction highlights the region’s emerging role in securing materials essential for green technology. For Norway, the deal represents more than industrial growth; it positions the country as a significant contributor to Europe’s critical mineral strategy. As nations race to secure supplies for the energy transition, this acquisition underscores the increasing importance of northern resources in global industrial competition and green technology development. The deal suggests future Arctic resource development may increasingly focus on critical minerals rather than fossil fuels. (Arctic Today, Benchmark Source)
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