U.S. report offers insights into Alaska graphite project CanadiansInvest
-OTCQX) has shared details of a U.S. Government report which identifies the company’s flagship Graphite Creek deposit in Alaska as among the largest in the world.
“The new USGS report provides some very important insights that strengthen our knowledge base and deepen our understanding of how Graphite Creek and similar types of deposits are formed,’’ said Mike Schaffner, Graphite One’s Vice-President of Mining. “It comes at a time when the United States needs to step up its game when it comes to Critical Minerals and indicates now valuable USGS’s contributions can be,’’ he said.
Graphite is the anode material in a lithium-ion battery and is the single largest component by weight. There are no substitutes, and almost all of it comes from China So, if electric vehicle manufacturers like Tesla Motors Ltd. [-NASDAQ] and Volkswagon succeed in meeting just a fraction of their widely publicized sales targets, more graphite mines will be needed to support the required lithium-ion battery production.
The goal is to emerge as an integrated business operation producing lithium-ion battery grade materials and other graphite products for the U.S. domestic market on a commercial scale using primarily natural graphite from Alaska.
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