EcoGraf (EGR.ASX) Epanko expansion: Africa's largest graphite producer, HF-free purification

In this ASX small-cap deep-dive, James Whelan sits down with EcoGraf Managing Director Andrew Spinks to unpack Epanko's expansion, financing, and the company's path to building a vertically integrated battery anode materials business with a low-carbon footprint. Epanko expansion would lift graphite production from 73,000 tonnes to up to 390,000 tonnes over ten years, providing visibility to customers and potential governments. Financing for stage one is being progressed with KfW IPEX Bank for about US$105 million, with the technical work largely complete. Downstream HF-free purification is a key differentiator, enabling cost-competitive purification at leading battery hubs globally. We explore how Epanko feedstock supports Europe, North America and Asia, the Tanzania shaping facility, and the ESG and social programs underpinning long-term sustainability. We also discuss how ESG and regulatory tailwinds — including the EU Critical Raw Materials Act and the US Inflation Reduction Act — are shaping graphite supply chains and why Africa-based supply is becoming strategically important. Finally, we touch on recycling and circular economy initiatives with partners like BASF and SungEel, and what investors should watch over the next 6–12 months. Timestamps 00:00 Introduction with James Whelan and Andrew Spinks 01:45 Epanko expansion study overview 03:08 Financing with KfW IPEX Bank and next steps 04:43 Downstream HF-free purification and Epanko feedstock 05:53 Tanzania shaping facility and energy costs 07:18 HF-free purification cost and comparison to HF 09:49 ESG and regulatory tailwinds (EU Critical Raw Materials Act, US IRA) 11:35 Global graphite demand outlook and sovereign supply 12:02 Europe–Australia collaboration and policy tailwinds 14:03 Supply chain security and reducing dependence on China 15:48 Tanzanian social licence and ESG programmes 16:36 Anode recycling and circular economy progress 18:17 Industry partnerships and testwork progression 19:53 Social licence and local impact in Tanzania 20:24 What investors should watch next (6–12 months) 21:41 Closing and outlook If you found this analysis helpful, please like and subscribe for more ASX small-cap insights, and drop a comment with which stock you want us to analyse next. ⚠️ IMPORTANT DISCLAIMER: This content is for educational and entertainment purposes only and should not be considered financial advice. All investments carry risk, including the potential loss of principal. Past performance does not guarantee future results. Always conduct your own research and consider seeking advice from a qualified financial advisor before making investment decisions. The creator may hold positions in securities discussed. 📌 Articles: https://smallcaps.com.au/ecograf-advances-epanko-project-key-resettlement-action-plan-milestone https://smallcaps.com.au/ecograf-begins-search-epanko-funding-receipt-key-mining-licence https://smallcaps.com.au/ecograf-farm-in-deal-anglogold-ashanti-golden-eagle-project https://smallcaps.com.au/ecograf-jump-resource-estimate-epanko-graphite-project https://smallcaps.com.au/graphite-stocks-look-oversold-diverge-lithium-cousins 🔎 More on this company: https://smallcaps.com.au/stocks/asx-egr/ ⸻ Small Caps is Australia’s #1 site for market news & information on ASX-listed small cap companies. 🌐 WEBSITE https://smallcaps.com.au/ 🎧 PODCAST https://smallcaps.com.au/podcast/ 📱 SOCIAL MEDIA Facebook: https://www.facebook.com/SmallCapsASX Twitter: https://twitter.com/SmallCapsASX LinkedIn: https://www.linkedin.com/company/small-caps/ 📬 NEWSLETTER https://smallcaps.com.au/subscribe/