74M mt
Brazil total graphite reserves
2nd largest globally · USGS 2025
68K mt
Production in 2024
A fraction of potential
×3
Battery-grade graphite
demand growth by 2030
Brazil graphite reserves by region · Global ranking · Source: ANM · USGS Mineral Commodity Summaries 2025 · Stratis Intelligence
The strategic context
Brazil holds the world's second-largest graphite reserves — 74 million metric tons, behind only China. The deposits in Minas Gerais and Bahia are known for high-quality crystalline flake graphite, the preferred feedstock for lithium-ion battery anodes. Yet in 2024, Brazil produced just 68,000 metric tons — a fraction of its geological potential.
Battery-grade graphite demand is expected to triple by 2030. China controls roughly 80% of global processing capacity and has tightened export controls. In response, Western governments and companies are actively seeking alternative supply. The US, EU, and Japan are all prioritising non-Chinese sources of graphite — and Brazil's reserve base puts it directly in that conversation.
Minas Gerais
Primary producing state. Approximately 68,000 metric tons output in 2024. Established mining infrastructure. High-quality crystalline flake graphite deposits.
Bahia — the emerging frontier
121,663 hectares under exploration. 74 million metric ton target resource. Eight licenses now consolidated under Bahia Graphite following ANM approval.
Stratis view
The recent license consolidation in Bahia is a small but meaningful signal. Junior miners backed by Western capital and offtake agreements are beginning to move into Brazil's graphite provinces. While still early stage, this represents the first step in transforming a large geological endowment into a real producing sector.
For international investors and battery supply chain players, Brazil's graphite story is moving from "interesting reserve base" to "emerging supply opportunity." The window is opening — but execution, permitting speed, and downstream processing capacity will determine how much of that opportunity Brazil actually captures.
Execution risk
Brazil's permitting environment for mining remains complex and time-consuming. The gap between reserve base and production capacity is not merely geological — it is regulatory and infrastructural. Investors entering early must price that gap explicitly.