This invention relates to a process for making carbon coated graphitic anode powders for use in batteries including rechargeable lithium-ion batteries wherein the process includes a side product isotropic pitch for use as a precursor in other products and more preferably, as a coating material for other powder or particle products. The process includes the steps of solvent extraction of volatile materials from high volatile material green coke powder. When a desirable amount of the volatile materials have been extracted, the solvent strength is altered to cause some of the volatile materials to precipitate on the powder particles to coat the same. The coated and solvent-extracted particles are then separated from the solvent and oxidatively stabilized, then carbonized and preferably graphitized. The volatile materials remaining in the solvent are valuable and are recovered for use in other processes and other products.