C$11 Million Acquisition Targets North American Graphite Supply Chain
Global Battery Materials announced on August 5 the completion of an acquisition agreement to purchase Lomiko Metals, a Canadian mining company listed on the TSX Venture Exchange, for a total of C$11 million in cash. This transaction integrates Lomiko Metals’ La Loutre graphite project in Quebec and other exploration assets into Global Battery Materials’ supply chain, marking a further strategic advancement in the North American battery materials market.
Gordana Slepcev, Chief Executive Officer of Lomiko Metals, stated that the acquisition not only delivers immediate value to shareholders but also integrates the La Loutre project with Global Battery Materials’ advanced anode processing technology platform, facilitating the project’s commercialization. Eric Miller, Chief Executive Officer of Global Battery Materials, emphasized that the acquisition represents a significant milestone in consolidating the fragmented battery supply chain, with the goal of establishing a fully integrated platform from natural graphite mining to anode material production.
La Loutre Project as Core Asset of the Acquisition
The La Loutre graphite project is located in southern Quebec, approximately 180 kilometers northwest of Montreal, covering a total area of 4,528 hectares across 76 exclusive exploration rights. The project is situated within the traditional territory of the Kitigan Zibi Anishinabeg First Nation and serves as Lomiko Metals’ flagship asset and the focal point of this acquisition. Global Battery Materials plans to utilize the La Loutre project as a long-term strategic source of raw materials to support its anode material production in North America.
In addition to the La Loutre project, the acquisition includes Lomiko Metals’ Yellow Fox property near Glenwood in Newfoundland, as well as seven early-stage exploration projects in Quebec, totaling 18,622 hectares. These assets will further strengthen Global Battery Materials’ graphite supply capabilities in North America and lay the foundation for future production expansion.
Technology Validation and Supply Chain Integration Advance in Parallel
Global Battery Materials operates a pilot plant for anode material processing technology in South Korea, where the technology has been validated at the pilot scale. The company supplies anode materials to customers through its Korean operations. Additionally, Global Battery Materials maintains a graphite laboratory in Mont Laurier, Quebec, where it is currently producing purified graphite concentrate samples for qualifying customers, demonstrating its technical expertise in graphite purification and anode material preparation.
Miller noted that as demand for high-quality battery materials in the electric vehicle market continues to grow, Global Battery Materials will leverage this acquisition to enhance its localized production capabilities in North America and accelerate vertical integration from mining to anode materials. Quebec, where the La Loutre project is located, is rich in graphite resources and has attracted investment from multiple international mining companies in recent years, becoming a key region for Global Battery Materials’ strategic expansion.
However, the development of the La Loutre project will require consultations with the Kitigan Zibi Anishinabeg First Nation to ensure compliance with local regulations and environmental standards. Global Battery Materials has not yet disclosed a specific timeline for the completion of the acquisition but expects it to take effect upon the fulfillment of relevant procedures. Shareholders of Lomiko Metals will receive cash consideration upon the completion of the transaction.
