- Northern Graphite (NGC) announced Wednesday it is increasing its commodity prices
- The Toronto-based company said it will increase prices on production from its Lac des Iles graphite mine by six percent
- Located in Quebec, the mine represents the only significant graphite production in North America
- The company attributes the price increase to continually-rising inflation, which is putting pressures on energy, freight and operational expenses
- The price increase will impact all orders received on, or after July 21
- Northern Graphite is down 5.08 percent, trading at $0.56 at 12:25 pm ET
Northern Graphite (NGC) announced Wednesday it is increasing its commodity prices.
The Toronto-based company said it will increase prices on production from its Lac des Iles graphite mine by six percent.
Located in Quebec, the mine represents the only significant graphite production in North America. The company will become the third largest non-Chinese producer of graphite when its Namibian operations come back on line in the first half of 2023.
The company attributes the price increase to continually-rising inflation, which is putting pressures on energy, freight and operational expenses.
The price increase will impact all orders received on, or after July 21.
The company will revisit the price increase if and when fuel and transportation costs decline in the coming months.
The company also has a large scale development project in Bissett Creek, Ontario. All projects have battery quality graphite and are located close to infrastructure in politically stable countries.
Northern Graphite is down 5.08 percent, trading at $0.56 at 12:25 pm ET.
