The global demand for graphite has grown strongly with the growth of the battery industry related to the green transition, and according to forecasts, already in the near future the majority of graphite production will go to the needs of the battery industry. There are currently no graphite mines in Finland.

Graphite is one of the critical and strategic raw materials classified by the EU, for which the EU aims to increase its self-sufficiency. The Critical Raw Materials Act was approved by the EU Parliament in September 2023. According to the Act, the target for the EU’s own mining operations for critical raw materials by 2030 is 10%. Currently, the EU’s own production of many critical raw materials is less than 3 percent of the EU’s needs, which makes the EU highly dependent on imports from China, Russia and third countries.

Kupukka Graphite Project has potential to significantly increase graphite resources in Finland and the EU.