With recent funding of C $ 21 million, Graphite One continues to advance the largest known natural graphite deposit in the United States
VANCOUVER, BC / ACCESSWIRE / October 7, 2021 / Graphite One Inc. (TSXV: GPH) (OTCQX: GPHOF) (“Graphite One” or the “Company”) announces that graphite has been added to the new U.S. National Defense Inventory (NDS) Acquisitions List, one of four new materials added for 2022.
“The inclusion of graphite on the National Defense inventory list is another sign of the growing importance of graphite,” said Anthony Huston, CEO of Graphite One. In addition to the importance of graphite to three of the four key supply chains recognized by the June 2021 White House report, it is clear that the US government views graphite as essential for both national security and the technological economy. “
The NDS, established by the United States Congress in 1939, is a stockpile of raw materials intended to reduce or prevent “dependence on foreign and single supply points for strategic and critical materials needed in an emergency. national ”.
The latest publicly released National Defense inventory requirements report included ‘natural flake graphite’ on its watchlist for ‘missing materials’ based on modeling against specific conflict scenarios indicating a shortage. projected graphite over 82,000 metric tons. The United States has been 100% dependent on graphite imports since 1990, with the vast majority of the supply being dependent on the production of graphite from China.
The United States Government’s Interim National Security Guidelines released on March 4, 2021 indicate as one of the United States’ national security priorities that the United States:
“…[W]I will not invest in critical inventory and ensure that supply chains for pharmaceuticals, medical equipment and other essential materials required during a crisis are not overly dependent on foreign networks prone to disruption. “
The June 2021 White House supply chain report identified three technology sectors – advanced semiconductors, “high capacity batteries, including electric vehicle (EV) batteries” and pharmaceuticals – as well as “critical minerals and other… strategic materials” as the fourth supply chain, essential for the manufacturing of technologies and the industrial base of defense. In addition to being a critical mineral listed by the US government, graphite is an essential material for the renewable battery and EV sectors, as well as for the manufacture of advanced semiconductors.
Graphite is also one of only four critical minerals listed by the USG (2018) essential to the six industry sectors selected by the USGS, for which the United States is both 100% dependent on imports, while the China is the world’s largest producer.
The action of the executive branch of the US government parallels the growing interest of the US Congress in critical minerals, including graphite. The Biparty Infrastructure Package (“BIF”), which has been passed by the Senate and awaits a vote in the House of Representatives, has a number of elements of interest to Graphite One, including provisions for various pilot projects. , demonstration and research related to the supply of essential minerals.
In particular, the legislation provides for the creation of a new program at the Department of Energy (DOE) to ensure that the United States has a viable battery materials processing industry to supply the battery supply chain. North America, including improving domestic processing capacity for minerals needed for battery materials and advanced batteries. If passed by the House, projects to extract and develop critical minerals in Alaska, such as the graphite used in lithium-ion batteries, will be eligible for federal loan guarantees to help secure funding, while $ 6 billion would be available for battery processing and manufacturing, including grants for processing facilities, which would help companies looking to produce and refine battery materials such as graphite and battery elements. rare earths in Alaska.
For more information on the pending infrastructure bill and possible benefits for Alaska, click here.
Graphite One completed over C $ 21 million in financing this year and continues to advance its 100% owned Graphite Creek deposit. The Graphite One deposit in western Alaska remains the largest known source of natural graphite in the United States. According to the World Bank, global demand for graphite for clean energy applications alone – mainly electric vehicle batteries and energy storage systems – is expected to increase by 494% by 2050.
Graphite One is developing a complete supply chain solution based in the United States, from mine to advanced graphite materials, including the anode material for lithium-ion battery applications, including EV batteries, as well as advanced graphite for potential uses ranging from fire fighting foam to graphite sealants for the 5G element array and synthetic diamond for semiconductor substrates.
About Graphite One Inc.
GRAPHITE ONE INC. (TSXV: GPH) (OTCQX: GPHOF) continues to develop its Graphite One project (the “Project”), through which the Company could potentially become a US producer of high quality coated spherical graphite (“CSG”) which is incorporated into a national graphite resource. The project is proposed as a vertically integrated enterprise to mine, process and manufacture high quality CSG primarily for the lithium-ion electric vehicle battery market. As indicated in the Company’s preliminary economic assessment, potential graphite mineralization mined from the Company’s Graphite Creek property is expected to be converted into concentrate at a graphite processing plant. The proposed processing plant would be located on the Graphite Creek property located on the Seward Peninsula approximately 60 kilometers north of Nome, Alaska. CSG and other value-added graphite products would likely be made from the concentrate at the Company’s proposed graphite products manufacturing plant, the location of which is being investigated and reviewed. more in-depth analysis. The Company intends to make a production decision on the Project once the feasibility study is completed.
On behalf of the board of directors
“Anthony Huston” (signed)
For more information about Graphite One Inc., please visit the company’s website, www.GraphiteOneInc.com or contact:
CEO, President and Director
Phone. : (604) 889-4251
Email: [email protected]
Investor Relations Contact
Phone. : (604) 684-6730
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release includes certain statements which may be considered as forward-looking statements. All statements contained in this release, other than statements of historical fact that relate to actual use of the products, including the timing and completion of the planned pre-feasibility study, receipt of regulatory approvals, implementation implementation of a more established shipping program, exploration drilling, operations, future production, establishment of a processing plant and events or developments that the Company expects are statements prospective. Although the Company believes that the expectations expressed in these forward-looking statements are based on reasonable assumptions, these statements are not guarantees of future performance and actual results or developments may differ materially from those of forward-looking statements. Factors that could cause actual results to differ materially from those of forward-looking statements include market prices, operating and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain permits, licenses and titles required and delays due to opposition from third parties, changes in government policies regarding exploration and exploitation of minerals and natural resources, and the continued availability of capital and financing, and conditions general economics, market or business. Readers are cautioned not to place undue reliance on such forward-looking information, which is given as of the date on which it is expressed in this press release, and the Company makes no commitment to publicly update or revise any forward-looking information, except as required by applicable securities laws. For more information about the Company, investors should consult the Company’s continuous disclosure documents which are available at www.sedar.com.
THE SOURCE: Graphite One Inc.
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