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Naguib Sawiris seeks $100M from Guinea over graphite supply
Falcon Energy Materials, backed by Naguib Sawiris, has requested Guinea to pay compensation of $100 million following the suspension of the "Lola" graphite project license, which was designated to supply the battery factory in Morocco. The project aims to process and purify graphite for use in manufacturing electric vehicle batteries, with an annual target production of 25,000 tons. The company's dispute with Guinea began after a presidential decision in 2025 to revoke the license, following failed settlement attempts. In March 2026, the company filed an international arbitration claim. Meanwhile, Falcon's team is working on developing a factory in Morocco, with an investment of approximately $86 million, planning to launch a pilot unit in July 2026 and to begin full production in 2027, amid efforts to secure high-quality graphite sources.
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