Highlights

  • International Graphite Shares last traded at AUD 0.049 before trading halt.
  • Trading halt requested pending a proposed capital raising announcement.
  • International Graphite entered a JV with Alkeemia for a graphite processing hub in Italy.
  • JV ownership is Alkeemia 51% and International Graphite 49%, with 50:50 profit sharing.
  • First production is targeted for H2 2027, subject to Final Investment Decision and funding.

International Graphite Ltd (ASX:IG6) has entered a trading halt on 17 June 2026 at the company’s request, pending the release of an announcement relating to a proposed capital raising. ASX confirmed that trading in International Graphite securities will remain halted until the earlier of the company releasing the relevant announcement or the commencement of normal trading on Friday, 19 June 2026, unless ASX decides otherwise.

International Graphite shares last traded at AUD 0.049 during the afternoon session on 16 June 2026, before the trading halt was applied. Over the past year, the stock remains down 18.33%, reflecting a decline of AUD 0.01.

Trading Halt Linked to Proposed Capital Raising

International Graphite requested the trading halt under ASX Listing Rule 17.1.

In its request to ASX, the company stated that the halt was required pending an announcement regarding a proposed capital raising.

The company requested that the trading halt remain in place until the earlier of the release of the capital raising outcome or the start of trading on Friday, 19 June 2026.

International Graphite also stated that it was not aware of any reason why the trading halt should not be granted or of any other information relevant to the request.

The halt comes alongside a separate operational and strategic update relating to the company’s graphite processing plans in Europe.

International Graphite Enters Alkeemia Joint Venture

International Graphite has entered into a Joint Venture and Shareholders’ Agreement with Alkeemia S.p.A., one of Europe’s major chemical manufacturers.

The agreement is designed to establish a graphite processing hub at Porto Marghera in Italy.

The project combines International Graphite’s graphite processing expertise with Alkeemia’s industrial infrastructure, workforce, chemical processing capability and construction-ready site.

The company said the joint venture is intended to create an independent graphite processing platform for Europe, with a focus on high-value graphite products used in industrial, energy storage, advanced manufacturing and defence applications.

JV Ownership and Capital Structure

Under the joint venture structure, Alkeemia will hold 51% ownership and International Graphite will hold 49%.

Despite the ownership split, profit sharing between the parties will be on a 50:50 basis.

International Graphite’s capital contribution to the project is estimated at AUD 12 million.

The project is designed for initial production of around 10,500 tonnes per year of graphite products.

International Graphite stated that project financing initiatives are well advanced, with a focus on minimising shareholder dilution.

Key Financial Snapshot

The company provided a 12-month financial snapshot based on current market conditions, noting that the figures do not represent a financial forecast.

Based on International Graphite’s 50% interest, the company outlined:

  • Sales revenue of AUD 20.1 million
  • All-in sustaining cost of AUD 7.9 million.
  • EBITDA of AUD 12.2 million.

For the total project, the corresponding figures were AUD 40.2 million in sales revenue, AUD 15.8 million in all-in sustaining costs and AUD 24.4 million in EBITDA.

The figures are based on approximately 10,500 tonnes per year of graphite product output and a base case sales strategy.

Porto Marghera Site Provides Infrastructure Advantage

The project will be located at Alkeemia’s Porto Marghera industrial site near Venice.

International Graphite highlighted several advantages of the location, including direct access to port, rail and road transport networks.

The site is also connected to warehousing, utilities, laboratories, control rooms, waste management systems and existing chemical operations.

Alkeemia holds a 99-year lease over the operating site, ending around 2117, and will contribute land to the joint venture.

The company said the location at port is expected to reduce logistics complexity and lead times for receiving graphite feedstock and dispatching finished products.

Construction and Production Timeline

Construction of the project is planned to commence in Q3 2026, subject to Final Investment Decision and funding.

First production is targeted for H2 2027.

The first phase involves construction of a facility capable of producing approximately 10,000 tonnes per year of graphite products.

The selected equipment has capability of producing up to 10,800 tonnes per year.

The project is expected to involve a 12-month construction period, with ramp-up to full production over 18 months.

A second phase could increase production capacity to approximately 15,000 tonnes per year. International Graphite said this expansion is proposed to be funded from joint venture cashflow and is not included in the current evaluation.

Graphite Products Target Multiple Markets

The Porto Marghera project is intended to produce standard and high-purity graphite products for a range of customer specifications.

Target markets include industrial applications, energy storage, advanced manufacturing and defence.

The planned facility will produce micronised graphite products using hammer milling, jet milling and classification equipment.

International Graphite said the equipment selected for the project is capable of producing a variety of micronised products, allowing production settings to be adjusted according to market demand.

The project is designed to produce 45-micron and 5-micron products across standard grade and high-purity graphite specifications.

Testwork Supports Processing Plan

International Graphite said testwork has been carried out on a range of graphite feedstocks available in commercial quantities from third-party suppliers.

The testwork was conducted at laboratory, pilot and qualification scale using independent consultants, equipment suppliers and the company’s Collie R&D and Graphite Processing Facility in Western Australia.

More than 1,200 kg of graphite concentrate has been micronised at the Collie facility.

The company said the testwork successfully produced graphite products within target specifications for industrial applications and confirmed operating conditions.

This work has been used to support flowsheet development, material and energy balances, equipment lists, capital cost estimation and processing cost assumptions.

Alkeemia Purification Plans Add Strategic Value

Alkeemia is one of Europe’s major producers of hydrofluoric acid and fluoro derivatives.

Hydrofluoric acid is a commercially established purification reagent used to produce high-purity graphite from natural graphite, including battery-grade material.

Alkeemia has recently completed an approximately EUR 80 million capital investment program to upgrade its hydrofluoric acid platform at Porto Marghera and add an additional production line.

It is also constructing a 200 tonnes per year graphite purification pilot plant on site.

International Graphite has been allocated 50% of the initial pilot plant capacity for testwork.

Alkeemia is targeting commercial purification output of 20,000 tonnes per year by 2030.

European Supply Chain Strategy

International Graphite stated that the project supports the European Union Critical Raw Materials Act.

The company noted that graphite has been designated as a Strategic Raw Material under the legislation.

The Critical Raw Materials Act sets a target for 40% of EU consumption of strategic raw materials to be processed domestically by 2030.

International Graphite said Europe currently produces little of its graphite needs onshore and remains highly dependent on China for processed graphite supply.

The planned joint venture is intended to offer European customers additional supply chain choice and greater certainty for high-purity graphite products.

Capital Cost Estimate

International Graphite estimated its project capital contribution at AUD 12 million.

This includes AUD 8.8 million for direct plant and equipment, including freight, installation, growth allowance and contingency.

A further AUD 3.0 million is allocated to construction management, owners’ costs and first fills, while AUD 0.2 million is included under other costs.

The company stated that the capital cost estimate has been developed at a level suitable for funding decisions, procurement planning and early-stage execution strategies.

Further refinement is expected during detailed engineering as final equipment vendors are selected and contracts are entered into.

Operating Cost Estimate

The all-in sustaining cost estimate for the project is AUD 1,510 per tonne.

This includes graphite concentrate feedstock at AUD 1,263 per tonne, processing costs of AUD 133 per tonne, maintenance of AUD 12 per tonne, general and administration costs of AUD 77 per tonne and sustaining capital of AUD 25 per tonne.

The company said its operating cost assumptions were informed by direct quotes received in April 2026 for different flake graphite specifications and purity levels from trading firms sourcing material from five jurisdictions.

Governance and Funding Pathway

The joint venture will be governed by a four-person board, with International Graphite and Alkeemia each nominating two representatives.

The chair position will rotate between the parties every 12 months, with Alkeemia appointing the first chair.

International Graphite is responsible for meeting the estimated AUD 12 million capital cost.

Alkeemia will contribute access to land, permitting support, warehousing, laboratory access, control rooms, waste management systems, logistics and operational workforce support.

Project financing discussions are ongoing with corporate advisers, cornerstone investors and potential funding sources connected to EU critical minerals initiatives.

What This Means for Investors

International Graphite’s latest updates include both a trading halt linked to a proposed capital raising and a detailed joint venture announcement with Alkeemia for a graphite processing hub in Italy. The Porto Marghera project is designed to produce 10,500 tonnes per year of graphite products, with construction targeted for Q3 2026 and first production targeted for H2 2027, subject to Final Investment Decision and funding. Investors are likely to monitor the outcome of the proposed capital raising, project financing arrangements, permitting progress and the company’s path toward Final Investment Decision.