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Graphite One Inc OTCQX:GPHOF TSXV:GPH

Graphite One CEO Invited to White House Investment Session as U.S. Sets Chinese Graphite Tariff

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Graphite One Inc. (TSXV: GPH) (OTCQX: GPHOF) announced that CEO and President Anthony Huston was among company leaders invited by President Joseph R. Biden to a White House meeting focused on investment and job creation, including the Critical Mineral sector. The President spoke in the Rose Garden on May 14, 2024.

  • Hours before the event, President Biden signed an Executive Order establishing a 25% tariff on Chinese imports, including natural graphite. The White House said the tariff rate on natural graphite and permanent magnets will increase from zero to 25% in 2026. Chinese synthetic graphite is currently under an exclusion that expires at the end of May.

Graphite One said initial planning sessions were completed at its Ohio site for a battery anode active material production plant. The plant’s construction and related employment opportunities remain subject to financing. A Defense Logistics Agency visit took place halfway through its $4.7 million project with Vorbeck Materials. Graphite One also discussed its $37.5 million Defense Production Act Title III grant and said work remains on schedule to complete its National Instrument 43-101 feasibility study by December 2024, subject to financing. The company intends to make a production decision upon completion of the study.

Investor FAQs

Graphite One Inc. announced that its CEO and President, Anthony Huston, was among a select group of company leaders invited by President Joseph R. Biden to a White House meeting focused on investment and job creation, including the strategic Critical Mineral sector. The company is identified in the release as Graphite One Inc. (TSXV: GPH) (OTCQX: GPHOF).
The release states that President Biden signed an Executive Order establishing a 25% tariff on Chinese imports, including natural graphite. The White House said that the tariff rate on natural graphite and permanent magnets will increase from zero to 25% in 2026. Chinese synthetic graphite was under an exclusion that expires at the end of May, according to the release.
Graphite One said it completed initial planning sessions at the Ohio site chosen for its battery anode active material production plant. It also said that consultants are expected to assist with designing and building the synthetic graphite plant, while local companies are expected to supply goods and services. The building of the plant and related employment opportunities remain subject to financing.
The release refers to a $4.7 million Defense Logistics Agency-funded project to develop a graphite and graphene-based foam fire suppressant as an alternative to incumbent PFAS fire-suppressant materials, as required by U.S. law. It also refers to Graphite One’s $37.5 million Defense Production Act Title III grant to accelerate completion of the company’s anticipated National Instrument 43-101 feasibility study. The release states that the work remains on schedule to complete the feasibility study by December 2024 subject to financing.
Graphite One describes a proposed vertically integrated enterprise involving mining and processing graphite from the Graphite Creek Property in Alaska, manufacturing natural and artificial graphite anode active materials and other value-added graphite products at a proposed facility in northeastern Ohio, and a recycling facility to be co-located at the Ohio site. The company intends to make a production decision upon completion of a Feasibility Study.
The release states that the Ohio plant and related employment opportunities remain subject to financing, and that the anticipated Feasibility Study is subject to financing. It also says there is no certainty that tests of the company’s material will be successful or lead to successful products. Identified factors that could cause actual results or developments to differ include market prices, exploration and exploitation outcomes, continuity of mineralisation, the ability to obtain permits, licences and title, delays due to third-party opposition, changes in government policies, continued availability of capital and financing, and general economic, market or business conditions.
The company states that descriptions of future production, processing and manufacturing facilities, recycling, development of foam fire suppressants and completion of the anticipated Feasibility Study are forward-looking statements. It says these statements are not guarantees of future performance, actual results or developments may differ materially, and readers should not place undue reliance on the forward-looking information.

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