💎Graphite, the largest component of batteries used in electric vehicles, is in high demand as the EV industry is expected to triple in size by 2032.
⛏️Sri Lanka, known for having the purest graphite in the world, struggles to compete with China, which currently produces nearly 70% of the global supply.
📈The recent restrictions on graphite exports by China have created an opportunity for smaller players like Sri Lanka to step up and meet the growing global demand.
🌏Graphite mining in Sri Lanka has a long history, dating back to the 17th century. It was initially used for pencils but gained importance during World War II for making bombshells and cannonballs.
⚖️The control of graphite supply has become a power play between China and the US, with China imposing restrictions and the US looking for alternative sources.