SENATOR MURKOWSKI PROPOSES NEW CRITICAL MINERALS LEGISLATION AT SUMMIT
BENCHMARK’S MOORES: “U.S. IS A BYSTANDER” IN THE “GLOBAL BATTERY ARMS RACE;” CALLS GRAPHITE “THE MOST EXTREME EXAMPLE”
VANCOUVER, British Columbia, May 07, 2019 (GLOBE NEWSWIRE) -- Graphite One Inc. (GPH: TSX-V; GPHOF: OTCQB) (“Graphite One” or the “Company”) was the sole graphite developer taking part in Benchmark Minerals Summit 2019, an invitation-only/no media event for industry leaders and U.S. Government representatives held on May 2 in Washington, D.C.
“We are in the midst of a global battery arms race that is intensifying,” Simon Moores, Managing Director of Benchmark Mineral Intelligence told summit participants. “Lithium, graphite, cobalt and nickel are the key enablers of the lithium ion battery and, in turn, the lithium ion battery is the key enabler of the energy storage revolution. Globally, they are facing a wall of demand especially from electric vehicles, yet the U.S. has been a bystander in building a domestic supply chain capacity.”
“Graphite is the most extreme example, with no flake graphite mining and anode production compared to China’s 51% and 100% of the world’s total, respectively,” Moores told the gathering.
Responding to Moores’ opening statement, GPH CEO Anthony Huston told summit participants: “[Graphite One is] a solution to that problem – graphite, mined responsibly, to U.S. standards – from the State of Alaska.”
In her keynote remarks at the summit, Senator Lisa Murkowski (R-AK) said: “The significance of foreign oil dependence is widely understood, but our foreign mineral dependence is equally – if not more – serious. Last year [the United States] imported at least 50 percent of 48 minerals, including 100 percent of 18 of them. That should worry everyone, particularly because it is happening at the same time that demand, for everything from graphite and lithium to cobalt and nickel, is about to skyrocket…. I have introduced the American Mineral Security Act, a bipartisan bill that takes a comprehensive approach to rebuilding our domestic mineral supply chain. Unless we take significant steps, we’re at risk of ceding major economic drivers to other countries.”
Speaking after the Senator’s announcement, and stating that “Senator Murkowski… has elevated the critical minerals issue in the Senate,” Mr. Huston added: “We’ve got to move beyond Government lists of critical minerals we lack, and get a clear signal from the U.S. Government that projects like ours, and many others involving critical minerals – that our projects matter.”
The text of Senator Murkowski’s bill, co-sponsored by Senator Joe Manchin (D-WV), can be viewed here.
Mr. Huston’s op-ed in The Economic Standard on the morning of the Washington summit can be viewed here.
About Graphite One
GRAPHITE ONE INC. continues to develop its Graphite Creek Project (the “Project”), whereby the Company could potentially become an American producer of high grade Coated Spherical Graphite (“CSG”) that is integrated with a domestic graphite resource. The Project is proposed as a vertically integrated enterprise to mine, process and manufacture high grade CSG 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. CSG and other value-added graphite products would likely be manufactured from the concentrate at the Company’s proposed graphite product manufacturing facility, the location of which is the subject of further study and analysis. 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 or contact:
CEO, President & Director
Tel: (604) 889-4251
Investor Relations Contact
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This release includes certain statements that may be deemed to be forward-looking statements. All statements in this release, other than statements of historical facts that address receipt of regulatory approvals, exploration drilling, exploitation activities and events or developments that the Company expects, are forward-looking statements. 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.