International Graphite Locks in EU JV to Build 10,000t Graphite Hub Near Venice
IG6 signs binding JV to build EU graphite processing hub at Porto Marghera
International Graphite Limited (ASX: IG6) has signed a binding Joint Venture and Shareholders’ Agreement with Alkeemia S.p.A. to build a high-specification graphite processing hub at Alkeemia’s Porto Marghera facility near Venice, Italy. The JV is structured with Alkeemia holding 51% ownership and IG6 holding 49%, with profits shared equally on a 50/50 basis. Construction is targeted to commence in Q3 2026, with first production expected in H2 2027, both subject to a Final Investment Decision (FID).
The agreement was signed at Alkeemia’s annual Battery Forum in Venice, with senior representatives from both companies in attendance.
Andrew Worland, Managing Director and CEO, IG6
“This agreement marks a defining moment for IG6 achieved in less than six months — a pace that reflects the genuine strength of alignment between our two companies and the scale of the European critical minerals opportunity that is in front of us.”
When big ASX news breaks, our subscribers know first
What makes Porto Marghera a tier-one location for graphite processing
Location and infrastructure are critical variables in the economics of graphite processing. Access to existing permitting, reagent supply, waste management systems, and transport connectivity can meaningfully reduce both the capital required to build a facility and the ongoing operating costs to run it. Finding a site that combines all of these attributes is rare.
Porto Marghera, situated adjacent to Venice, is one of Europe’s most significant industrial chemical ports. Alkeemia’s existing platform at the site provides the JV with a tier-one foundation from day one.
As part of its 51% contribution to the joint venture, Alkeemia will contribute access to the following infrastructure and capabilities:
- Permitting
- Warehousing
- Graphite laboratories
- Control rooms
- Waste management systems
- Port and rail infrastructure
- Experienced operational workforce
- Graphite purification toll treating capacity being built on site
Alkeemia is one of Europe’s leading producers of hydrofluoric acid (HF) and fluoro derivatives, with an approximately €80 million capital investment programme establishing Porto Marghera as one of the most advanced HF production platforms in the Western world. For graphite purification, co-location within this industrial chemical ecosystem is a material advantage. HF is a key reagent in graphite purification processes, and proximity to a leading HF producer reduces both supply chain risk and input costs compared to standalone facilities.
The strategic timing of this agreement also aligns with accelerating EU policy momentum. Europe is actively seeking to reduce its dependence on external graphite supply chains, and domestically-produced, high-quality graphite products are increasingly supported by EU critical minerals initiatives.
Lorenzo Di Donato, CEO, Alkeemia
“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. This joint venture represents a concrete acceleration of the industrial path that Alkeemia has undertaken in recent years.”
Production targets, responsibilities, and the path to cash flow
The JV development plan targets an initial production capacity of 10,000 tonnes per year (t/y), with a scale-up to approximately 15,000t/y targeted within three years of initial production.
IG6 is responsible for providing the capital required to establish the first 10,000t/y of production capacity. The subsequent expansion to ~15,000t/y is targeted to be funded through JV operations, reducing the external capital requirement for the scale-up phase.
Funding initiatives are currently being progressed to meet the expected capital cost of the initial 10,000t/y facility. According to the announcement, these include project finance, EU critical minerals funding programmes, and cornerstone equity investors. A number of tier-one trading groups and their customers are also assessing the company’s product specifications, indicating early commercial interest in the planned output.
IG6’s technical contribution to the JV centres on localising its existing technical database, processing flowsheets, process design criteria files, and equipment supplier pricing to the Porto Marghera site. This provides the foundation for capital and operating cost estimates ahead of the FID.
Alkeemia will supply labour and services under an Operations Management Agreement, covering OH&S management, control rooms, mobile equipment, laboratory services, logistics management, and insurances.
On governance, the JV will be managed by a four-person Board of Directors, with IG6 and Alkeemia each nominating two representatives. The chairmanship will rotate, with Alkeemia appointing the first Chairman for 12 months and IG6 appointing the Chairman for the following 12 months thereafter. The JV’s Chief Executive Officer will be appointed from one of the existing Alkeemia Directors, with a suitable candidate already identified.
| Parameter | Detail |
|---|---|
| Ownership | Alkeemia 51% / IG6 49% |
| Profit share | 50 / 50 |
| Initial capacity | 10,000t/y |
| Scale-up target | ~15,000t/y (within 3 years) |
| Construction start | Q3 2026 (subject to FID) |
| First production | H2 2027 (subject to FID) |
Yoshi Uenishi, Chief Strategy Officer, Alkeemia
“Alkeemia has developed advanced graphite purification technology, which together with our position as a leading global HF producer, creates a unique opportunity to establish an integrated mid-stream graphite processing platform at Porto Marghera, combining purification and downstream graphite processing within a single industrial ecosystem.”
The next major ASX story will hit our subscribers first
Next steps and what investors should watch
The immediate workplan for the JV focuses on finalising business plans, engineering and design cost estimates, and key construction and operational agreements to support the FID. Technical studies are currently being finalised to provide financial guidance for the proposed facilities, a step that will be instrumental in securing project financing and advancing the FID process.
This European JV sits alongside IG6’s existing Western Australian processing operations as part of the company’s dual-jurisdiction strategy, with total targeted processing capacity of approximately 20,000t/y across both jurisdictions.
The binding agreement was reached in under six months, and the 50/50 profit share structure reflects commercial alignment between both parties despite the asymmetric ownership split. For investors tracking IG6’s progress, the key milestones to monitor are:
- Technical studies and financial guidance release
- Final Investment Decision
- Construction commencement, targeted Q3 2026
- First production, targeted H2 2027
- Scale-up to ~15,000t/y, targeted to be funded through JV operations
Don’t Miss the Next ASX Industrials Breakout
Big News Blast delivers FREE breaking ASX news and in-depth analysis directly to your inbox within minutes of release. Join 20,000+ investors already staying ahead of market-moving announcements across Tech, Healthcare, Manufacturing, and more. Click the “Free Alerts” button at StockWire X to start receiving alerts the moment news breaks.