I was late on the scene with ITM as I was looking at lithium,...

I was late on the scene with ITM as I was looking at lithium, but then in my research on EV growth and battery demand then graphite is my go to mineral. I wrote an article on graphite to get my head into that space.
(My website but have used research from a bunch of companies Graphite for Batteries - Meeting demand for EV Batteries in 2030 (imh-holdings.com) From what I can see the battery market based on announcements from Europe and USA (I put the data on that) is about 3 TWh by 2025 just for the battery gigafactories. All the graphite in batteries now is from fossil fuels. The EU in particular is not going to be happy to get their graphite from China directly from a coal mine!
Everyone looks at lithium - at 30,000 per tonne, and they will need 900 tonnes of LiCo3 per GW - so that is 30 times current production. But Graphite at $1200 per tonne, and they need more like 3000 tonnes per GW.

And that is just EVs. Currently battery demand for grid systems would be double that of cars. Talking about 10TWh of batteries and there is just not enough batteries production surplus to the car industry.
So if the globe decarbonises by 2030, there is a huge unmet supply problem. Good for SP.