Graphite One Resources Inc.: Critical Materials Debate Highlights Growing Graphite Importance
April 13, 2015 (Source: Marketwired) — New Pentagon Study Reports Graphite “Shortfall”
– U.S. Senator Calls for Critical Minerals Policy Reform
– Graphite One Advisory Board Member Interviewed for CBS 60 Minutes Segment on Rare Earths
Graphite One Resources Inc. (TSX VENTURE:GPH) (OTCQX:GPHOF) (“Graphite One” or the “Company”) is progressing from the exploration to the evaluation phase with its Graphite Creek Project near Nome, Alaska. This deposit is the largest known large flake graphite deposit in the United States and calls attention to recent developments that underscore the importance of critical materials and natural flake graphite in particular.
On March 22, 2015, Graphite One Advisory Board Member Dan McGroarty was interviewed in a CBS “60 Minutes” segment titled: “Modern Life’s Devices Under China’s Grip.” The segment highlighted the dangers of foreign dependency on elements essential to green technologies, high technologies and advanced weapons systems. The CBS “60 Minutes” segment can be viewed at http://www.cbsnews.com/news/rare-earth-elements-china-monopoly-60-minutes-lesley-stahl/.
“While 60 Minutes focused on rare earths for which the United States is more than 90% dependent on Chinese supply, concerns about resource dependency apply equally to natural graphite,” said Anthony Huston, President and CEO of Graphite One. “For nearly 25 years, the U.S. has been 100% import dependent for the graphite it uses, with China providing more than 70% of the world’s supply. Graphite, like rare earths, has been recognized by the U.S. Government as a critical material.”
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The 60 Minutes piece aired just days before Lisa Murkowski, U.S. Senator (R-AK) and Chair of the Senate Energy & Natural Resources, introduced a bill titled “The American Mineral Security Act of 2015,” which would direct the U.S. Geological Survey to establish a critical minerals list, and reform the federal mine permitting process. “It is not just rare earths that we depend on from China, and it is not just China that we depend on for a stunning array of minerals that improve every aspect of our daily lives,” said Senator Murkowski. “Right as foreign oil becomes less of a national concern, our foreign mineral dependence has taken its place as an insidious threat to America’s security, growth and competitiveness.”
Finally, the U.S. House and Senate Armed Services Committees have just released the Pentagon’s Strategic and Critical Materials 2015 Report on Stockpile Requirements, which included “natural flake graphite” on its watch list of “shortfall materials,” based on its modeling of supply and demand for various materials measured against specific crisis scenarios.
The report was done by the Defense Logistics Agency Strategic Materials division, which “continuously monitors supply chains of materials that are important to specific Department of Defense (“DoD”) defense systems and weapons platforms.” According to the Pentagon report, “Defense uses of natural graphite include batteries, lubricants, body armor, engine turbine components, coatings for aircraft manufacture, and missile parts.” The report notes that “The United States has no domestic production of natural graphite, but it is consumed by roughly 90 U.S. companies.” “Top-quality flake graphite will likely see an increase in demand in the coming years; meanwhile the supply looks to be steady at best and there are concerns about potential export controls out of China.”
“We see it from the Pentagon, the U.S. Congress and in the mainstream media,” noted Anthony Huston. “Critical materials supply is increasingly essential to economic development, energy independence and national security. Our Graphite Creek Project in Alaska has the potential to be a significant supplier of high quality, large flake graphite at a time when technology is driving increasing demand – and has established natural graphite as a critical and strategic mineral.”
About Graphite One Resources Inc.
GRAPHITE ONE RESOURCES INC. (TSX VENTURE:GPH) (OTCQX:GPHOF) is exploring with the intent to develop the Graphite Creek Project, USA’s largest known large flake graphite deposit situated on the Seward Peninsula of Alaska about 60 miles north of Nome. The Project is progressing from the exploration to the evaluation phase. Work to date has identified a large, high grade and at-surface resource with simple geology and good mineralization continuity. The Project has the potential to produce products that will effectively compete in the high end battery market (for both electric vehicles and power storage) as well as other markets for purified graphite and graphite by-products.
ON BEHALF OF THE BOARD OF DIRECTORS
For more information on Graphite One Resources Inc. please visit the Company’s website, www.GraphiteOneResources.com.
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 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 access to capital, 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.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>