New Chinese Restrictions on Supply of Natural Graphite Will Negatively Impact Batteries Used in EV Market
October 23 2023 - 1:30PM
Business Wire
Westwater Resources Offers Domestic
Alternatives
Westwater Resources, Inc. (NYSE: American: WWR), an
energy technology and battery-grade natural graphite company
(“Westwater Resources”), today acknowledged that new Chinese
restrictions on the supply of natural graphite will negatively
impact the availability of battery anode material which is a
critical component in producing the lithium-ion batteries that are
used in electric vehicles.
Today, China produces nearly 100 percent of the processed
graphite that is used to create battery anodes used in electric
vehicles. An average EV in the United States contains approximately
175 pounds of processed graphite. However, the United States
currently has no domestic production of natural graphite and no
domestic processing of graphite into anode materials for EV
batteries.
Westwater Resources is committed to changing this imbalance by
providing a domestic supply of natural graphite and a domestic
source of graphite processing for the EV market. Westwater
Resources is currently building its Kellyton Graphite Processing
Plant, which will supply processed graphite to the EV market
beginning in early 2025. In addition, Westwater Resources is
designing and planning its Coosa Graphite Project, which is
scheduled to begin mining natural graphite by the end of 2028. The
Kellyton Graphite Processing Plant and the Coosa Graphite Deposit
are both located in east-central Alabama.
“The announcement of export curbs by China highlights the
importance of standing up a battery grade graphite anode industry
in the United States to support the energy transition,” said
Terence J. Cryan, Executive Chairman of Westwater Resources. “Since
nearly 100 percent of global graphite anode material is coming from
China this year, diversity of supply is in the country’s best
interest. Westwater’s Kellyton Graphite Processing Plant is ready
to lead the way.”
ABOUT WESTWATER RESOURCES, INC.
Westwater Resources is an energy technology company that is
focused on developing battery-grade natural graphite. Westwater
Resources’ primary project is the Kellyton Graphite Processing
Plant that is under construction in east-central Alabama. In
addition, Westwater Resources’ Coosa Graphite Deposit is the most
advanced natural flake graphite deposit in the contiguous United
States — and is located across 41,965 acres (~17,000 hectares) in
Coosa County, Alabama. For more information, visit
www.westwaterresources.net.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
STATEMENTS
This news release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are subject to risks, uncertainties and
assumptions and are identified by words such as “will,” “changing,”
“providing,” “scheduled,” “supplying,” and other similar words.
Forward-looking statements in this release include, among other
things, statements concerning Westwater’s activities and schedules
regarding its Kellyton Graphite Processing Plant and Coosa Graphite
Deposit. Westwater cautions that there are certain factors that
could cause actual results to differ materially from the
forward-looking information that has been provided. The reader is
cautioned not to put undue reliance on this forward-looking
information, which is not a guarantee of future performance and is
subject to a number of uncertainties and other factors, many of
which are outside the control of Westwater; accordingly, there can
be no assurance that such suggested results will be realized.
Additional risks facing Westwater’s future prospects are discussed
in the Westwater Resources, Inc. Annual Report on Form 10-K for the
year ended December 31, 2022, and subsequent securities
filings.
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version on businesswire.com: https://www.businesswire.com/news/home/20231023357911/en/
Westwater Resources, Inc. Email:
Info@WestwaterResources.net
Investor Relations Email:
Investorrelations@westwaterresources.net
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