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vessobon Apr 14, 2015 9:00pm
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Attention directed to Minerals Security Act of 2015
Attention directed to Minerals Security Act of 2015Graphite One Resources Inc. (TSX: V.GPH, Stock Forum) jumped 27% to 9.5 cents Monday in active trading after the company said a U.S. Senator has called on the U.S. Geological Survey to establish a critical minerals list and reform the federal mine permitting process.
The call is contained in a bill that was recently introduced by U.S. Senator Lisa Murkowski, who is also Chair of the Senate Energy & Natural Resources. It is titled The American Mineral Security Act of 2015.
“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,’’ she said.
“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.’’
In another development, Graphite One noted that the U.S. House and Senate Armed Services Committee has 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.’’
The list is based on the Committee’s modeling of supply and demand for various materials measured against specific crisis scenarios, Graphite One said in a press release.
According to the Pentagon report, “Defense uses of natural graphite include batteries, lubricants, body armour, engine turbine components, coatings for aircraft manufacture and missile parts.’’
Graphite One said the report notes that the U.S. 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,’’ the report said.
Graphite One President and CEO Anthony Huston said the company’s 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 material.
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 https://www.cbsnews.com/news/rare-earth-elements-china-monopoly-60-minutes-lesley-stahl/.
Read more at https://www.stockhouse.com/news/newswire/2015/04/13/grapite-one-v-gph-up-27-as-u-s-highlights-importance-industrial-mineral#oWo4Oouqr2FjIPjP.99