Canada Graphite Firms Soar After US Sets Anti-Dumping Duties

By Doug Alexander – Bloomberg

Canadian graphite firms Nouveau Monde Graphite Inc. and Northern Graphite Corp. surged after the US Commerce Department imposed preliminary anti-dumping duties of 93.5% on Chinese imports of the key battery material.

Nouveau Monde jumped 27% and Northern Graphite soared 50% by Thursday’s close of trading in Toronto.

Nouveau Monde has two mine projects in Quebec, while Ottawa-based Northern Graphite has a producing graphite mine in the French-speaking province, and owns a shuttered mine in Namibia.