New Jaguar CEO insists controversial rebirth will happen amid falling profits
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AU Financial Review
12 hours ago
- AU Financial Review
Critical minerals shift from extraction to processing
With 25.3 million tonnes of contained graphite, it is expected to support a mine life of at least 70 years – meaning it could one day power not just electric vehicles, but the robot workers and storage networks of Australia's long-term clean energy future. 'Graphinex's Esmeralda Project is a clear example of Australia moving up the value chain,' says managing director Art Malone. 'Our demonstration facility in Townsville produces material that exceeds battery anode specifications, and we are scaling toward full commercial production.' That kind of capability matters because graphite is not just another mineral. It makes up more than 90 per cent of the anode in lithium-ion batteries. As electric vehicle and storage demand grows, graphite has emerged as a strategic chokepoint – and China controls more than 98 per cent of its global refining capacity. 'Natural graphite is now officially classified as a critical mineral in all jurisdictions like the US, EU, Japan, and Australia,' Malone says. 'Yet over 98 per cent of anode material is currently processed in China. That creates a vulnerability in global supply chains and a massive opportunity for Australia to step in with secure, ESG-compliant alternatives.' Geopolitical reality According to Benchmark Mineral Intelligence's Enabling North American Graphite Growth report, China's dominance of graphite refining represents a fundamental strategic risk. In 2023, China supplied 72 per cent of the world's graphite and 92 per cent of the high-purity anode material used in lithium-ion batteries. By 2028, Benchmark projects China will still supply 65 per cent of global graphite and 86 per cent of anode material. The report notes that 'barring concerted action,' China will continue to control the market. That dominance extends across both natural graphite – mined and refined and synthetic graphite, manufactured from petroleum feedstocks. The report frames this not just as a trade or investment problem but a national security issue. 'Lithium-ion batteries are a critical component of many emerging advanced technologies, including many with national security applications,' it says. In that context, securing reliable, non-China graphite supply is not optional, it's strategic. Australia's industrial policy is catching up to this geopolitical reality. With the federal Critical Minerals Strategy, Queensland's Critical Minerals Fund, and agencies like NAIF and the Office of the Co-ordinator General behind early-stage projects, the conditions for downstream investment have improved. 'Policy support has improved and needs to move fast and coordinated,' Malone says. 'This is something the Queensland government does well.' The Townsville demonstration facility is a product of that convergence – a project that has secured institutional backing from Japan's Idemitsu and Indonesia's Baramulti, along with funding from government sources. The site produces qualification-scale batches of active anode material (AAM) for testing by tier-one battery manufacturers. 'We're seeing strong strategic interest from downstream battery and auto manufacturers, particularly in the US, South Korea, Japan, and Europe,' Malone says. 'Governments are now offering financial incentives and trade policy support for non-China supply chains. Our engagement with US, Japan and Australian government agencies reinforces the geopolitical importance of what we're building.' High purity graphite Demonstration facilities are often seen as proof-of-concept. But in this case, the technical data is already drawing attention. Independent testing shows the material has a discharge capacity of 381.4 mAh/g, compared to an industry standard of around 355, and purity levels of 99.99 per cent – placing it in the premium performance category. The firm has already completed its pre-feasibility study and has now commenced a bankable feasibility study, along with permitting and financing discussions. Construction of its full-scale facility is expected to begin within 18 months. 'Financing will combine private capital, strategic investors, and government backed debt,' Malone says. 'Strong interest is already being shown by our global partners.' The economic potential extends well beyond graphite. Australia's broader ambition is to become a trusted hub for critical mineral processing across the battery value chain – spanning not just graphite, but lithium, nickel, and rare earths. 'Australia has a once-in-a-generation opportunity to be more than a quarry,' Malone says. 'We can become a trusted midstream hub for critical battery materials.' In that vision, projects like the Townsville facility are a test case – not just for commercial success, but for whether Australia can turn strategic ambition into industrial capability. More than digging and shipping Queensland Minister for Natural Resources and Mines Dale Last says the plant means that the nation is well positioned to not only meet the strong global demand for critical minerals but also add value to the supply chain through additional processing. 'Queensland's mineral deposits are world-class, and we're proud to be a mining state. We want to see projects that go further than the 'dig it and ship it' approach,' says Last. He says the state government is investing in midstream capabilities to support critical mineral extraction and processing for our key critical mineral commodities including graphite, vanadium, and other materials. 'We've made it our mission to connect international investors with Queensland innovation, backed by the work of the resources cabinet committee to streamline approvals and get more projects off the ground,' says Last. 'We're pulling every lever to accelerate new developments, reduce approval timeframes and give industry the confidence to plan and invest. Graphinex's battery anode production facility in Townsville and planned Esmeralda mine is proof that the government's strategy is working, delivering real opportunities for regional Queensland and positioning the state as a global leader in battery materials, he says. If the race to electrification is also a race for industrial capability, then the work underway in northern Queensland may prove decisive. Not because it's flashy, but because it quietly answers the question: can Australia do more than dig? And this time, it's looking like the answer is yes for Graphinex.
The Advertiser
4 days ago
- The Advertiser
New Jaguar CEO insists controversial rebirth will happen amid falling profits
Incoming JLR CEO PB Balaji has stated the radical new direction of Jaguar will continue as planned, even as the automaker saw a dramatic fall in profits due to the tariff uncertainty in the US. During an investor call to discuss Tata Motors and JLR's financial results, Mr Balaji was asked about Jaguar's rebirth, which was brought back into the spotlight last week after criticism by US President Donald Trump. Mr Balaji said: "We have put our plans together, the cars are being revealed, they're getting exciting response from the customers on the ground. Therefore that's what the strategy is." CarExpert can save you thousands on a new car. Click here to get a great deal. As part of Jaguar's reimagining under former CEO Thierry Bollore, and outgoing CEO Adrian Mardell, the British marque will no longer compete with BMW, but will instead take on Bentley. It's hoped reduced volume will more than matched by increased profit margins. In December 2024 the company revealed its eye-catching new design language with the Type 00 concept, as well as a rebrand that, largely, ditches its familiar leaper logo for a modernist word mark. Aside from the F-Pace SUV, production of Jaguar models has stopped in anticipation of the brand's relaunch. Mr Balaji will take over as CEO of JLR in November when current CEO Adrian Mardell retires after 35 years at the firm, three of which he spent in charge. Mr Balaji has been JLR's chief financial officer since joining the firm in 2017. JLR saw its profit before tax and exceptional items fall to £351 million (A$724 million) during the April to June quarter, down 49.4 per cent from the same period last year. The automaker blamed foreign exchange rates, and reduced sales volume due to tariffs imposed by US President Donald Trump, which he raised to 27.5 per cent. The increased tariffs prompted the manufacturer to pause shipments to the US in April. Subsequent trade deals saw the tariff reduced to 10 per cent for the first 100,000 cars per year from the UK, and 15 per cent for all vehicles from the EU. Most of JLR's models are built in the UK, but the Defender is made in Slovakia. MORE: Everything Jaguar Content originally sourced from: Incoming JLR CEO PB Balaji has stated the radical new direction of Jaguar will continue as planned, even as the automaker saw a dramatic fall in profits due to the tariff uncertainty in the US. During an investor call to discuss Tata Motors and JLR's financial results, Mr Balaji was asked about Jaguar's rebirth, which was brought back into the spotlight last week after criticism by US President Donald Trump. Mr Balaji said: "We have put our plans together, the cars are being revealed, they're getting exciting response from the customers on the ground. Therefore that's what the strategy is." CarExpert can save you thousands on a new car. Click here to get a great deal. As part of Jaguar's reimagining under former CEO Thierry Bollore, and outgoing CEO Adrian Mardell, the British marque will no longer compete with BMW, but will instead take on Bentley. It's hoped reduced volume will more than matched by increased profit margins. In December 2024 the company revealed its eye-catching new design language with the Type 00 concept, as well as a rebrand that, largely, ditches its familiar leaper logo for a modernist word mark. Aside from the F-Pace SUV, production of Jaguar models has stopped in anticipation of the brand's relaunch. Mr Balaji will take over as CEO of JLR in November when current CEO Adrian Mardell retires after 35 years at the firm, three of which he spent in charge. Mr Balaji has been JLR's chief financial officer since joining the firm in 2017. JLR saw its profit before tax and exceptional items fall to £351 million (A$724 million) during the April to June quarter, down 49.4 per cent from the same period last year. The automaker blamed foreign exchange rates, and reduced sales volume due to tariffs imposed by US President Donald Trump, which he raised to 27.5 per cent. The increased tariffs prompted the manufacturer to pause shipments to the US in April. Subsequent trade deals saw the tariff reduced to 10 per cent for the first 100,000 cars per year from the UK, and 15 per cent for all vehicles from the EU. Most of JLR's models are built in the UK, but the Defender is made in Slovakia. MORE: Everything Jaguar Content originally sourced from: Incoming JLR CEO PB Balaji has stated the radical new direction of Jaguar will continue as planned, even as the automaker saw a dramatic fall in profits due to the tariff uncertainty in the US. During an investor call to discuss Tata Motors and JLR's financial results, Mr Balaji was asked about Jaguar's rebirth, which was brought back into the spotlight last week after criticism by US President Donald Trump. Mr Balaji said: "We have put our plans together, the cars are being revealed, they're getting exciting response from the customers on the ground. Therefore that's what the strategy is." CarExpert can save you thousands on a new car. Click here to get a great deal. As part of Jaguar's reimagining under former CEO Thierry Bollore, and outgoing CEO Adrian Mardell, the British marque will no longer compete with BMW, but will instead take on Bentley. It's hoped reduced volume will more than matched by increased profit margins. In December 2024 the company revealed its eye-catching new design language with the Type 00 concept, as well as a rebrand that, largely, ditches its familiar leaper logo for a modernist word mark. Aside from the F-Pace SUV, production of Jaguar models has stopped in anticipation of the brand's relaunch. Mr Balaji will take over as CEO of JLR in November when current CEO Adrian Mardell retires after 35 years at the firm, three of which he spent in charge. Mr Balaji has been JLR's chief financial officer since joining the firm in 2017. JLR saw its profit before tax and exceptional items fall to £351 million (A$724 million) during the April to June quarter, down 49.4 per cent from the same period last year. The automaker blamed foreign exchange rates, and reduced sales volume due to tariffs imposed by US President Donald Trump, which he raised to 27.5 per cent. The increased tariffs prompted the manufacturer to pause shipments to the US in April. Subsequent trade deals saw the tariff reduced to 10 per cent for the first 100,000 cars per year from the UK, and 15 per cent for all vehicles from the EU. Most of JLR's models are built in the UK, but the Defender is made in Slovakia. MORE: Everything Jaguar Content originally sourced from: Incoming JLR CEO PB Balaji has stated the radical new direction of Jaguar will continue as planned, even as the automaker saw a dramatic fall in profits due to the tariff uncertainty in the US. During an investor call to discuss Tata Motors and JLR's financial results, Mr Balaji was asked about Jaguar's rebirth, which was brought back into the spotlight last week after criticism by US President Donald Trump. Mr Balaji said: "We have put our plans together, the cars are being revealed, they're getting exciting response from the customers on the ground. Therefore that's what the strategy is." CarExpert can save you thousands on a new car. Click here to get a great deal. As part of Jaguar's reimagining under former CEO Thierry Bollore, and outgoing CEO Adrian Mardell, the British marque will no longer compete with BMW, but will instead take on Bentley. It's hoped reduced volume will more than matched by increased profit margins. In December 2024 the company revealed its eye-catching new design language with the Type 00 concept, as well as a rebrand that, largely, ditches its familiar leaper logo for a modernist word mark. Aside from the F-Pace SUV, production of Jaguar models has stopped in anticipation of the brand's relaunch. Mr Balaji will take over as CEO of JLR in November when current CEO Adrian Mardell retires after 35 years at the firm, three of which he spent in charge. Mr Balaji has been JLR's chief financial officer since joining the firm in 2017. JLR saw its profit before tax and exceptional items fall to £351 million (A$724 million) during the April to June quarter, down 49.4 per cent from the same period last year. The automaker blamed foreign exchange rates, and reduced sales volume due to tariffs imposed by US President Donald Trump, which he raised to 27.5 per cent. The increased tariffs prompted the manufacturer to pause shipments to the US in April. Subsequent trade deals saw the tariff reduced to 10 per cent for the first 100,000 cars per year from the UK, and 15 per cent for all vehicles from the EU. Most of JLR's models are built in the UK, but the Defender is made in Slovakia. MORE: Everything Jaguar Content originally sourced from:
7NEWS
4 days ago
- 7NEWS
New Jaguar CEO insists controversial rebirth will happen amid falling profits
Incoming Jaguar Land Rover (JLR) CEO PB Balaji has stated the radical new direction of Jaguar will continue as planned, even as the automaker saw a dramatic fall in profits due to the tariff uncertainty in the US. During an investor call to discuss Tata Motors and JLR's financial results, Mr Balaji was asked about Jaguar's rebirth, which was brought back into the spotlight last week after criticism by US President Donald Trump. Mr Balaji said: 'We have put our plans together, the cars are being revealed, they're getting exciting response from the customers on the ground. Therefore that's what the strategy is.' CarExpert can save you thousands on a new car. Click here to get a great deal. As part of Jaguar's reimagining under former CEO Thierry Bollore, and current CEO Adrian Mardell, the British marque will no longer compete with BMW, but will instead take on Bentley. It's hoped reduced volume will more than matched by increased profit margins. In December 2024 the company revealed its eye-catching new design language with the Type 00 concept, as well as a rebrand that, largely, ditches its familiar leaper logo for a modernist word mark. Aside from the F-Pace SUV, production of Jaguar models has stopped in anticipation of the brand's relaunch. Mr Balaji will take over as CEO of JLR in November when current CEO Adrian Mardell retires after 35 years at the firm, three of which he spent in charge. Mr Balaji has been JLR's chief financial officer since joining the firm in 2017. JLR saw its profit before tax and exceptional items fall to £351 million during the April to June quarter, down 49.4 per cent from the same period last year. The automaker blamed foreign exchange rates, and reduced sales volume due to tariffs imposed by US President Donald Trump, which he raised to 27.5 per cent. The increased tariffs prompted the manufacturer to pause shipments to the US in April. Subsequent trade deals saw the tariff reduced to 10 per cent for the first 100,000 cars per year from the UK, and 15 per cent for all vehicles from the EU. Most of JLR's models are built in the UK, but the Defender is made in Slovakia.
