Mozambique expects to produce more than 329,040 tons of graphite next year, the raw material needed to produce batteries for electric vehicles, an increase of more than 180% compared to this year's performance, according to the government's forecast.

In the document supporting the proposal for the Economic and Social Plan of the State Budget (PESOE) for 2024, consulted today by Lusa, the government states that graphite production "will increase significantly" next year, compared to the 2023 projections.

For the estimate, the document reads, the plans of the two companies to produce this mineral were taken into account, despite the fact that until the first half of 2023 "22% will be realized", due to the "weak demand for this ore on the international market", which led Twigg Mining and Exploration [a subsidiary of Syrah Resources Limitada], the largest producer, "to temporarily interrupt its mining and processing activities in the months of May and June".

The estimated production of 329,040 tons of graphite in 2024 represents an increase of 180.2% compared to what is expected for this year, according to the government data included in the report, which will be discussed and then voted on during the 8th ordinary parliamentary session, which begins today in Maputo.

It should be noted that Mozambique produced 120,000 tons of graphite in 2020, a performance that fell to 77,116 tons the following year, while estimates for 2022 and 2023 were 182,024 and 117,416 tons respectively, according to Lusa.