It also has a leader in the recycling graphite from disused lithium-ion batteries. The company mines graphite from Tanzania. It is in the process of developing a processing plant in Kwinana, Western Australia. Battery business boom EcoGraf’s meteoric share price rise didn’t gain huge traction until January 2021. Then, with no warning at all, it shot up 116% over a week without a word of news from the company. When questioned by the ASX as to why it answered that growing interest in the lithium battery sector and its purification technology may have been to blame. Over the next 4 weeks, the EcoGraf share price climbed a monumental 511%. In that time EcoGraf updated its debt facility and completed a capital raising.