International Graphite and Alkeemia forge joint venture to anchor European graphite processing hub in Venice
International Graphite Ltd (ASX:IG6, FRA:H99, OTC:IGRPF) has formally inked a binding joint venture and shareholders’ agreement with Italian chemical firm Alkeemia S.p.A., setting the stage for a major graphite processing hub at Alkeemia’s Porto Marghera facility near Venice, Italy. The deal underscores a broader push by European industries to secure domestic supplies of critical raw materials, particularly graphite, which is essential for lithium-ion batteries and other energy-transition technologies.
The agreement gives IG6 a fast-track route into European graphite processing by leveraging Alkeemia’s established industrial platform — including permits, warehouses, labs, control rooms, waste management infrastructure, port and rail access, an operating workforce, and on-site graphite purification capacity. Under the terms, Alkeemia will hold 51% of the joint venture and IG6 49%, with profits split equally.
“Alkeemia has developed advanced graphite purification technology, which together with our position as a leading global hydrogen fluoride producer, creates a unique opportunity to establish an integrated mid-stream graphite processing platform at Porto Marghera,” said Yoshi Uenishi, chief strategy officer of Alkeemia. “We look forward to building this important hub together with our partners at International Graphite.”
IG6 managing director and CEO Andrew Worland called the agreement “a defining moment” for the company, achieved in less than six months. “This pace reflects the genuine strength of alignment between our two companies and the scale of the European critical minerals opportunity in front of us,” he added.
The proposed hub is initially targeting 10,000 tonnes per year of production capacity, with plans to scale to roughly 15,000 tonnes per year within three years. IG6 will fund the capital required for the first phase, while the expansion is expected to be financed from joint-venture operations. Alkeemia will contribute land and site infrastructure, manage permitting, and provide operational services under an operations management agreement.
Alkeemia CEO Lorenzo Di Donato framed the venture as pivotal not only for his company but for Europe’s broader raw materials strategy. “Europe must accelerate its industrial autonomy in critical raw materials by progressively reducing dependence on external supply chains and building more sustainable, efficient, and resilient local production capabilities,” he said. “Porto Marghera offers unique industrial, logistical, and energy advantages and is increasingly confirming its strategic role in the development of Europe’s new energy transition value chains.”
For IG6, the deal bolsters its “processing-first” strategy and provides access to an existing European industrial chemical ecosystem, which is expected to lower capital intensity and operating costs. The location is also strategically significant: Porto Marghera already features established port, rail, energy, and chemical infrastructure at a time when Europe is racing to build more secure domestic supply chains for critical minerals.
The immediate focus of the joint venture is to finalise business plans, engineering and design cost estimates, and key construction and operating agreements to support a final investment decision. IG6 said technical studies are being completed to provide financial guidance for the proposed facilities and to support project financing. Funding options under review include project finance, EU critical minerals funding programs, and cornerstone equity investors.
Construction is planned to begin in the third quarter of 2026, subject to a final investment decision, with first production targeted for the second half of 2027. The project is expected to serve as a bellwether for Europe’s ability to onshore critical mineral processing and reduce reliance on concentrated supply chains from Asia.