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Falcon Energy Materials has initiated arbitration at the ICSID against Guinea after its graphite mine permit was revoked in May 2025. The company is seeking $100 million in damages, citing illegal expropriation under the UAE-Guinea bilateral investment treaty.

Following the revocation, Falcon attempted to negotiate with the Guinean government but received no response, leading to arbitration. Despite losing its main supply source, Falcon plans to proceed with its anode factory project in Morocco, targeting a 2027 start with an annual production capacity of 26,000 tons of purified spherical graphite. The company will source hydrofluoric acid from partner Fluoralpha, linked to OCP's new generation projects.