Last year, the U.S. imported roughly 39,500 metric tons of graphite to meet its domestic needs.*
Basically, lithium-ion batteries, which require a substantial amount of graphite continue to drive the demand for the commodity with no sign of it slowing down.
So, when will the U.S. tap into this highly sought-after industry?
The answer is still unknown, but we do know that it's in discussion. Anthony Huston, CEO and President of Graphite One Inc (TSX-V: GPH | OTCQB: GPHOF) met with government officials at the Benchmark Minerals Summit 2019, which took place in Washington, D.C. earlier this year.
The private, invitation-only summit had the sole purpose of advancing U.S. interests in the various production stages of electric vehicles and energy-storage industries.
Graphite One Inc. continues to develop its Graphite Creek Project, located in Alaska and could potentially become America's premium producer of this previous commodity.
We will continue to provide updates on the industry as more information is announced.
* "Mineral Commodity Summaries 2018," U.S. Geological Survey, https://www.miningnewsnorth.com/story/2019/02/01/news/america-is-losing-battery-metals-arms-race
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