Park Sang-jun STX CEO Discusses Graphite Mine Development with Mozambique Prime Minister

Park Sang-jun, CEO of STX, met with Adriano Afonso Maleiane, Prime Minister of Mozambique, on the 12th (local time) to discuss cooperation plans during the development process of the Caula mine, the company announced.

The meeting took place at the Prime Minister's residence in Maputo, the capital of Mozambique. The Caula mine is about to begin graphite production. Previously, in November last year, Prime Minister Han Duck-soo visited Mozambique and agreed with Prime Minister Maleiane to strengthen cooperation between the two countries.

Sangjun Park, CEO of STX (center), is taking a commemorative photo with Adriano Afonso Maleyanne, Prime Minister, after a meeting at the Prime Minister's residence in Maputo, the capital of Mozambique, on the 12th (local time), along with local partner Delsio Fonseca (left) and lawyer Rinecas Rigeiro (right).
[Photo by STX]

Mozambique, located on the southeastern coast of the African continent along the Indian Ocean, is considered one of the largest graphite producers in Africa alongside Madagascar. As of last year, it produced 170,000 tons out of the global production of 1.3 million tons, ranking second after China.

With graphite production at the Caula mine expected to ramp up next year, STX is anticipated to secure key mineral resources and strengthen its overseas presence. The industry forecasts a sharp increase in global demand for graphite, which is used as an anode material in secondary batteries. There is also a possibility that new supply chains through Mozambique will gain prominence as China controls graphite exports as part of its resource weaponization strategy.

The Caula mine, for which STX has secured both production and sales rights, is estimated to contain more than 37 million tons each of graphite and vanadium. The annual production targets are 160,000 tons of graphite and 240,000 tons of vanadium.

CEO Park Sang-jun said, "With the recent overlapping crisis in the supply chain of key raw materials, flexible response to the global market restructuring and changes is more important than ever," adding, "We will focus our capabilities on leading the global supply chain in the cathode and anode material sectors."

Kaula Mine, Mozambique, Africa
[Photo by STX]