Graphite One Comments on White House Defense Directive Designating Graphite as "essential to National Defense" Graphite elevated into select group of "super-critical minerals" after receiving DPA Title III designation
Graphite One Comments on White House Defense Directive Designating
Graphite as "essential to National Defense"
Graphite elevated into select group of "super-critical minerals" after receiving DPA Title III designation
VANCOUVER, BC
,
April 1, 2022
/CNW/ -
Graphite One Inc.
(TSXV: GPH) (OTCQX: GPHOF)
("Graphite One" or the "Company")
offers the following
comments on President
Joe Biden's
announcement today that graphite and other critical battery materials are designated as "essential to national defense" under
the Defense Production Act (DPA) of 1950.
Graphite and other battery minerals – lithium, manganese, cobalt and nickel – join rare earth materials the only U.S. Government-listed Critical Minerals eligible for
the comprehensive support provided by the DPA. Unlike Presidential Executive Orders, designations under the DPA, first passed during the Korean War, carry the
full force of U.S. federal law.
"With this new defense designation under U.S. law, graphite joins a select group of 'super-critical minerals' that are essential to commercial technology and
national security applications," said
Anthony Huston
, CEO of Graphite One. "This action by President Biden validates Graphite One's strategy of creating a full
supply chain for advanced graphite materials located in
the United States
."
According to the Department of Defense, the (DPA) "provides the President a broad set of authorities to ensure the timely availability of essential domestic
industrial resources to support national defense and homeland security requirements."
According to the White House statement, President Biden
"…issue[d] a directive, authorizing the use of the Defense Production Act to secure American production of critical materials to bolster our clean energy
economy by reducing our reliance on
China
and other countries for the minerals and materials that will power our clean energy future. Specifically, the
DPA will be authorized to support the production and processing of minerals and materials used for large capacity batteries–such as lithium, nickel, cobalt,
graphite, and manganese—and the Department of Defense will implement this authority using strong environmental, labor, community, and tribal
consultation standards. The sectors supported by these large capacity batteries—transportation and the power sector—account for more than half of our
nation's carbon emissions. The President is also reviewing potential further uses of DPA – in addition to minerals and materials – to secure safer, cleaner,
and more resilient energy for America."
Earlier this month, U.S. Senators
Lisa Murkowski
(R-AK) and
Joe Manchin
(D-WV), former and current Chairs of the Senate Energy and Natural Resource
Committee, sent a
letter to President Biden
urging him to make a DPA Title III designation to "invoke the Defense Production Act to accelerate domestic
production of lithium-ion battery materials, in particular graphite, manganese, cobalt, nickel, and lithium." Mr. Huston commented: "All of us at Graphite One want
to thank Senator Murkowski, the Senate's undisputed expert on critical minerals, and Chairman of the Senate ENR Committee,
Joe Manchin
who made such a
compelling case for President Biden to take this step. Giving graphite and the battery materials the DPA Title III designation – as 'essential to national defense' –
is a strong signal that the full force of the U.S. federal government will now be behind domestic development of these 'super-critical minerals'. With the USGS
recognizing Graphite One's
Alaska
deposit just last month as being America's largest known graphite deposit, and adding to that our plan to produce battery-
ready anode material, Graphite One is ready to answer the call, and create a complete advanced graphite supply chain solution for the U.S."
Dean of the House, the Honorable Don Young
"I also want to single out a real leader, a great patriot and friend who we mourn and miss: Congressman
Don Young
, Dean of the House," continued Mr.
Huston. "Congressman Young was a supporter of Graphite One from the first moment I had a chance to meet him, and he was an advocate of DPA Title III being
used to drive domestic production of graphite and other critical minerals. We talked about the issue the last time we met. On a personal level, all of us at
Graphite One want to express our deepest condolences to Mrs. Young and the Young family. When you were talking to him, it didn't matter what huge issues of
government were in play on Capitol Hill,
Don Young
had a way of making you feel like the conversation you were having with him was the most important thing he
could be doing. He was a happy warrior – and
Alaska
and all of America were lucky to have him."
Graphite One's Supply Chain Strategy
With
the United States
currently 100 per cent import dependent for natural graphite, Graphite One is developing a complete U.S.-based, advanced graphite supply
chain solution anchored by the Graphite Creek resource near
Nome, Alaska
. The Graphite One project plan includes an advanced graphite material and battery
anode manufacturing plant expected to be sited in
Washington State
1
with the development of the Graphite Creek resource.
As announced on
March 7th
2
, Graphite One Inc.'s Graphite Creek resource in
Alaska
has been cited as the largest known graphite deposit in
the United States
by
the U.S. Geological Survey (USGS) in its updated U.S. Mineral Deposit Database (USMIN).
The USGS report confirms
Alaska
Governor
Mike Dunleavy's
statement in support of Graphite One's designation as a U.S. government high-priority infrastructure
project, stating, "Graphite Creek is the largest deposit of graphite in the nation and would be a superior domestic supply of this critical mineral.
About Graphite One Inc.
GRAPHITE ONE INC. (GPH: TSXV) (GPHOF: OTCQB) continues to develop its Graphite One Project (the "Project"), whereby the Company could potentially
become an American producer of high-grade anode materials that is integrated with a domestic graphite resource. The Project is proposed as a vertically
integrated enterprise to mine, process and manufacture high grade anode materials primarily for the lithium
ion electric vehicle battery market. As set forth in the
Company's Preliminary Economic Assessment, potential graphite mineralization mined from the Company's Graphite Creek Property, is expected to be processed
into concentrate at a graphite processing plant. The proposed processing plant would be located on the Graphite Creek Property situated on the
Seward
Peninsula
about 60 kilometers north of
Nome
, Alaska. Graphite anodes and other value
added graphite products would be manufactured from the concentrate
and other materials at the Company's proposed advanced graphite materials manufacturing facility expected to be located in Washington State. The Company
intends to make a production decision on the Project once a feasibility study is completed.
On Behalf of the Board of Directors
"Anthony Huston" (signed)
For more information on Graphite One Inc., please visit the Company's website,
www.GraphiteOneInc.com
.
On Twitter @GraphiteOne
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.
All statements in this release, other than statements of historical facts, including those related to future production, establishment of a processing plant and a
graphite manufacturing plant, and events or developments that the Company intends, expects, plans, or proposes are forward-looking statements Generally,
forward
looking information can be identified by the use of forward
looking terminology such as "proposes", "expects", or "is expected", "scheduled",
"estimates", "projects", "intends", "assumes", "believes", "indicates" or variations of such words and phrases that state that certain actions, events or results
"may", "could", "would", "might" or "will be taken", "occur" or "be achieved". The Company cautions that there is no certainty that tests of the Company's
material will be successful or that such tests will result in the development of successful products. Although the Company believes the expectations expressed
in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or
developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in
forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to
obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource
exploration and exploitation, and continued availability of capital and financing, and general economic, market or business conditions. Readers are cautioned
not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this press release, and the Company undertakes
no obligation to update publicly or revise any forward-looking information, except as required by applicable securities laws. For more information on the
Company, investors should review the Company's continuous disclosure filings that are available at
www.sedar.com
.
________________________________
1
https://www.graphiteoneinc.com/graphite-one-announces-location-of-its-advanced-graphite-anode-facility/
2
https://www.graphiteoneinc.com/u-s-government-cites-graphite-ones-graphite-creek-as-the-largest-graphite-deposit-in-the-united-states/
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For further information:
Anthony Huston, CEO, President & Director, Tel: (604) 889-4251, Email: [email protected]; Investor Relations Contact:
Tel: (604) 684-6730, [email protected], On Twitter @GraphiteOne
CO: Graphite One Inc.
CNW 07:00e 01-APR-22