Toronto – September 17, 2026 -- Global Battery Materials Corp. (GBM) has signed a non-binding Letter of Intent with South Korean battery manufacturer LiBEST to evaluate and potentially commercially supply natural graphite, coated spherical purified graphite (CSPG), and other anode materials sourced and processed entirely outside China.
LOI targets defence, AI infrastructure and EV supply chains
The agreement covers materials intended for energy storage, defence, AI infrastructure and electric vehicle applications, and is designed to support qualification pathways for GBM's anode materials across allied-government and defence-related supply chains. The LOI builds on a prior Memorandum of Understanding between the two companies that established a framework for battery materials testing, anode product development and participation in government programs.
LiBEST evaluation targets U.S. Foreign Entity of Concern compliance
Under the existing framework, LiBEST is assessing GBM's graphite and anode materials to strengthen its ex-China supply chain and meet applicable U.S. Foreign Entity of Concern (FEOC) requirements. Dr. Joo-Seong Kim, Chief Executive Officer of LiBEST, said the company plans to evaluate GBM's materials for select high-performance battery applications while strengthening its North American supply chain options.
GBM has already shipped battery-grade anode material to Tier-1 manufacturers
GBM's pilot production plant and R&D facility in South Korea has validated its patented anode processing technology and shipped battery-grade anode material to Tier-1 battery manufacturers for technical qualification. Eric Miller, Chief Executive Officer of GBM, said the company has moved quickly since launching earlier this year to qualify its product with customers seeking a reliable anode supply outside China.
The proximity of LiBEST's and GBM's R&D and pilot operations in South Korea is expected to streamline technical communication and accelerate material evaluation for both companies.
Kearney Mine restart underpins GBM's mine-to-market strategy
GBM is advancing the restart of the Kearney Mine in Ontario as part of a vertically integrated platform spanning critical mineral mining and anode materials processing. The initiative follows a positive Preliminary Economic Assessment for the mine and a Letter of Agreement with five First Nations supporting responsible development, including potential equity investment.