The European Bank for Reconstruction and Development has made a follow-on equity investment of AUD 1.4 million in Sarytogan Graphite Limited, increasing its stake in the ASX-listed company to 18.4% as it continues to back the development of one of the world’s largest known high-grade graphite deposits in Kazakhstan.
The proceeds will be used to complete an upstream definitive feasibility study and fund project-related development activities including environmental work and product marketing. Sarytogan Graphite is developing its namesake deposit in Kazakhstan, a project that has attracted growing attention given graphite’s designation as a critical raw material and its essential role in electric vehicle batteries, the electric power industry and metallurgy.
The investment maintains the EBRD’s position as a significant minority shareholder in the project and forms part of the bank’s broader engagement with Kazakhstan’s critical minerals sector. The EBRD has invested approximately $12.6 billion across 352 projects in Kazakhstan, making the country the largest and longest-running recipient of EBRD investment in Central Asia.
The move reflects accelerating institutional support for graphite supply chain development outside China, which dominates global graphite production and processing. Western governments and multilateral development banks have increasingly directed capital toward critical mineral projects in allied and partner jurisdictions as supply chain resilience becomes a strategic priority.
