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automaker offtakes signal momentum in domestic anode market","us-automaker-offtakes-signal-momentum-in-domestic-anode-market","article/us-automaker-offtakes-signal-momentum-in-domestic-anode-market",{"_uid":557,"date":558,"tags":559,"editor":569,"content":579,"excerpt":720,"featured":51,"reporter":721,"_editable":725,"component":726,"seo_title":553,"categories":727,"visibility":739,"author_company":49,"featured_image":740,"seo_description":720,"author_full_name":49,"author_job_title":49,"formattedDate":746,"formattedArticleDate":747},"4be35742-507a-4509-9f3b-6386eb42c57f","2024-08-21 00:00",[560,563,566],{"slug":561,"name":562},"graphite-one","Graphite One",{"slug":564,"name":565},"usa","USA",{"slug":567,"name":568},"westwater-resources","Westwater Resources",[570],{"slug":571,"name":572,"content":573},"didi-bostock","Didi Bostock",{"job_title":574,"image":575,"bio":577,"linkedin":578},"Editor - Energy Transition & Economics",{"filename":576},"https://a.storyblok.com/f/287943243085208/512x512/2c5ca5c1a3/didi-bostock.jpeg","Didi is the Energy Transition & Economics Editor at Benchmark, covering a broad range of markets across the energy transition. His remit spans from downstream sectors such as BESS and EVs, through to midstream such as new technologies and battery production, to upstream critical minerals mining. He also leads on financial analysis across these supply chains, alongside in-depth policy analysis.\n","https://www.linkedin.com/in/didi-bostock-656342198/",{"type":580,"content":581},"doc",[582,589,594,601,606,611,626,631,636,641,646,651,656,661,673,684,705,710,715],{"type":583,"attrs":584,"content":585},"paragraph",{"textAlign":49},[586],{"text":587,"type":588},"The US anode scene continued to develop in July as automakers look to establish offtake agreements in the natural and synthetic anode supply chains.","text",{"type":583,"attrs":590,"content":591},{"textAlign":49},[592],{"text":593,"type":588},"Last month, Westwater Resources inked a binding offtake with Fiat-Chrysler Automobiles (FCA) while Graphite One signed a non-binding supply agreement with Lucid Motors. ",{"type":595,"attrs":596,"content":598},"heading",{"level":597,"textAlign":49},4,[599],{"text":600,"type":588},"What has happened?",{"type":595,"attrs":602,"content":603},{"level":597,"textAlign":49},[604],{"text":605,"type":588},"US anode supply chain needs investment to compete with Chinese giants",{"type":583,"attrs":607,"content":608},{"textAlign":49},[609],{"text":610,"type":588},"“The key challenge in getting projects up and running in North America lies in securing CAPEX injection, whether from government incentives or private investments. Once facilities are operational, the variable costs are not significantly higher than in China,” Jon Jacobs, Chief Commercial Officer at Westwater Resources, told Benchmark Source.",{"type":583,"attrs":612,"content":613},{"textAlign":49},[614,616,624],{"text":615,"type":588},"Westwater Resources is currently developing its Kellyton graphite plant in Alabama which is forecast to start production of natural active anode material next year, according to Benchmark’s ",{"text":617,"type":588,"marks":618},"Natural Graphite Forecast",[619],{"type":620,"attrs":621},"link",{"href":622,"uuid":49,"anchor":49,"target":49,"linktype":623},"https://www.benchmarkminerals.com/forecasts/natural-graphite/reports/","url",{"text":625,"type":588},".",{"type":583,"attrs":627,"content":628},{"textAlign":49},[629],{"text":630,"type":588},"Anthony Huston, CEO of Graphite One, told Benchmark Source that to compete with China’s players the US’s domestic supply chain needs to not just produce natural graphite, but also develop synthetic and natural anode materials. ",{"type":583,"attrs":632,"content":633},{"textAlign":49},[634],{"text":635,"type":588},"“Onshoring that production know-how is essential, it’s investment-intensive and it’s imperative if we want to see the US be a maker and not a taker in the great technology transformation taking place around us,” he said.",{"type":583,"attrs":637,"content":638},{"textAlign":49},[639],{"text":640,"type":588},"Huston also emphasised that, while the two Department of Defence grants Graphite One has received since mid-2023 were useful, the graphite sector needs more support from the US Government. ",{"type":583,"attrs":642,"content":643},{"textAlign":49},[644],{"text":645,"type":588},"“Government grants and loans, targeted investments and even offtakes that allow private companies like Graphite One room to innovate and allocate capital in the ways only private markets can is the collaborative approach we need in the US and industrialised democracies if we’re going to succeed,” said Huston.",{"type":583,"attrs":647,"content":648},{"textAlign":49},[649],{"text":650,"type":588},"Westwater’s Jacobs is also in favour of governmental support for securing financing, and called for the rules of origin loopholes – where Chinese companies can produce FEOC-compliant material via overseas markets – to be addressed. Not resolving this issue “would undermine the IRA’s goal of reducing reliance on foreign materials and could lead to a less effective localisation of the supply chain,” he said.",{"type":583,"attrs":652,"content":653},{"textAlign":49},[654],{"text":655,"type":588},"Sustainability is of increasing importance and an area US graphite can compete with Chinese material. “Locally sourced materials using non-coal-powered furnaces are more environmentally friendly,” said Jacobs.",{"type":595,"attrs":657,"content":658},{"level":597,"textAlign":49},[659],{"text":660,"type":588},"US graphite trade policy is driving activity in its domestic market",{"type":583,"attrs":662,"content":663},{"textAlign":49},[664,666,671],{"text":665,"type":588},"The US aims to reduce its dependence on China for natural graphite. In 2024, China will produce 73% of global mined supply and 94% of uncoated spherical graphite (USPG), according to ",{"text":667,"type":588,"marks":668},"Benchmark’s Natural Graphite Forecast",[669],{"type":620,"attrs":670},{"href":622,"uuid":49,"anchor":49,"target":49,"linktype":623},{"text":672,"type":588},".  ",{"type":583,"attrs":674,"content":675},{"textAlign":49},[676,678,682],{"text":677,"type":588},"At present, the US produces no natural graphite but has four mines in various stages of development, according to Benchmark’s ",{"text":617,"type":588,"marks":679},[680],{"type":620,"attrs":681},{"href":622,"uuid":49,"anchor":49,"target":49,"linktype":623},{"text":683,"type":588},". The four assets are operated by Redbird Bluebird, Westwater Resources, Graphite One Resources, and South Star Battery Metals.",{"type":583,"attrs":685,"content":686},{"textAlign":49},[687,689,695,697,703],{"text":688,"type":588},"To balance protecting domestic miners with allowing US OEMs time to source ex-China graphite, ",{"text":690,"type":588,"marks":691},"the US has placed a 25% tariff",[692],{"type":620,"attrs":693},{"href":694,"uuid":49,"anchor":49,"target":49,"linktype":623},"https://source.benchmarkminerals.com/article/why-has-the-us-reinstated-tariffs-on-natural-graphite",{"text":696,"type":588}," on Chinese natural graphite starting in 2026 and ",{"text":698,"type":588,"marks":699},"delayed the implementation",[700],{"type":620,"attrs":701},{"href":702,"uuid":49,"anchor":49,"target":49,"linktype":623},"https://source.benchmarkminerals.com/article/graphite-feoc-sourcing-extension-supports-us-battery-expansion-but-highlights-chinas-dominance",{"text":704,"type":588}," of FEOC requirements to 2027.",{"type":583,"attrs":706,"content":707},{"textAlign":49},[708],{"text":709,"type":588},"“The tariffs imposed by the US have notably boosted the industry, leading to an immediate surge in interest,” said Jacobs.",{"type":583,"attrs":711,"content":712},{"textAlign":49},[713],{"text":714,"type":588},"This sentiment was echoed by Huston who said deals that have been in discussion phase for a long time are now getting done.",{"type":583,"attrs":716,"content":717},{"textAlign":49},[718],{"text":719,"type":588},"“Players up and down the supply chain realise there is enormous competition for graphite supply,” Huston said. 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US anode supply chain needs […]",[722],{"slug":571,"name":572,"content":723},{"job_title":574,"image":724,"bio":577,"linkedin":578},{"filename":576},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"4be35742-507a-4509-9f3b-6386eb42c57f\", \"id\": \"\"}-->","article",[728,730,733,736],{"slug":729,"name":263},"anode",{"slug":731,"name":732},"batteries","Batteries",{"slug":734,"name":735},"critical-minerals","Critical Minerals",{"slug":737,"name":738},"graphite","Graphite","private",{"id":49,"alt":741,"name":742,"focus":742,"title":741,"source":742,"filename":743,"copyright":742,"fieldtype":744,"meta_data":745,"is_external_url":51},"Two large quarry trucks","","https://a.storyblok.com/f/287943243085208/37b10df46b/bm-us-automaker-offtakes.jpg","asset",{"alt":741,"title":741,"source":742,"copyright":742},"Aug 21, 2024","21st August 2024",[],[],1792773898286]