Latest news with #DefenseProductionAct
Cision Canada
13 hours ago
- Business
- Cision Canada
Graphite One and Lucid Enter into Second Non-Binding Supply Agreement
Agreement involves Natural Graphite Material; complements existing 2024 agreement covering Synthetic Anode Active Materials Follows Graphite One's listing on U.S. Federal Fast-41 Permitting Dashboard and completion of its NI 43-101 compliant Feasibility Study funded by a $37.3 million Department of Defense award under the Defense Production Act Graphite One CEO, Anthony Huston: "This Agreement makes Graphite One the only company to date to provide both natural and synthetic graphite materials required for battery anodes to a U.S. EV company." VANCOUVER, BC, June 4, 2025 /CNW/ - Graphite One Inc. (TSXV: GPH) (OTCQX: GPHOF) (" Graphite One", or the " Company"), is pleased to announce that as part of its plan to build a complete U.S. supply chain for advanced graphite materials, the Company has entered into a second non-binding supply agreement (the " Supply Agreement") for anode active materials (" AAM") with Lucid Group, Inc. (NASDAQ: LCID) (" Lucid"), maker of the world's most advanced electric vehicles. Whereas the previous agreement announced in July 2024 involved synthetic graphite AAM, the agreement announced today covers natural graphite AAM which will be supplied to Lucid and its battery cell suppliers for use in future vehicles. "This agreement complements the deal we struck with Lucid in 2024 – which marked the first synthetic graphite agreement between a U.S. graphite developer and a U.S. EV company. We made history then – and we're continuing to make history now, as the deal makes Graphite One the only company to date to provide both natural and synthetic graphite materials required for battery anodes to a U.S. EV company," said Graphite One CEO Anthony Huston. "From Presidential Executive Orders to increase mineral resource production and leveraging Alaska's resource potential, to the recent inclusion of our Company on the Federal Fast-41 Permitting Dashboard -- we are building momentum for our efforts to develop a fully domestic graphite supply chain, to meet market demands and strengthen U.S. industry and national defense." "A supply chain of critical materials within the United States drives our nation's economy, increases our independence against outside factors or market dynamics, and supports our efforts to reduce the carbon footprint of our vehicles," said Marc Winterhoff, Interim CEO at Lucid. "This partnership is another example of our commitment to powering American innovation and manufacturing with localized supply chains." The Supply Agreement follows publication of Graphite One's feasibility study prepared in accordance with National Instrument 43-101 this spring, which with the support of Defense Production Act Title III funding, was completed 15 months ahead of schedule and showed a tripling of the Company's proven and probable reserves. Graphite One's domestic graphite supply chain is planned to produce graphite concentrate from the Graphite Creek deposit North of Nome, Alaska and AAM at a facility to be constructed in Warren, Ohio, subject to financing. Terms of the Supply Agreement The Supply Agreement is non-binding and commences once the Company begins production of natural graphite. The initial term is for 5 years, subject to earlier termination. Sales are based on a price formula agreeable to both parties. The Supply Agreement is subject to other terms, conditions and termination rights standard for an agreement of this nature. About Lucid Lucid (NASDAQ: LCID) is a Silicon Valley-based technology company focused on creating the most advanced EVs in the world. The award-winning Lucid Air and new Lucid Gravity deliver best-in-class performance, sophisticated design, expansive interior space and unrivaled energy efficiency. Lucid assembles both vehicles in its state-of-the-art, vertically integrated factory in Arizona. Through its industry-leading technology and innovations, Lucid is advancing the state-of-the-art of EV technology for the benefit of all. Graphite One's Domestic Supply Chain Strategy With the United States currently 100 percent import dependent for synthetic and natural graphite, Graphite One is developing a complete U.S.-based, advanced graphite supply chain solution anchored by the Graphite Creek deposit, recognized by the US Geological Survey as the largest graphite deposit in the U.S. "and among the largest in the world." The Graphite One Project plan includes building an advanced graphite material and battery anode material manufacturing plant located in Warren, Ohio. The plan also includes a recycling facility to reclaim graphite and the other battery materials, to be co-located at the Ohio site, the third link in Graphite One's circular economy strategy. About Graphite One Inc. GRAPHITE ONE INC. (TSXV: GPH) (OTCQX: GPHOF) continues to develop its Graphite One Project (the " Project"), with the goal of becoming an American producer of high grade anode materials that is integrated with a domestic graphite resource. The Project is proposed as a vertically integrated enterprise to mine, process and manufacture high grade anode materials primarily for the lithium‐ion electric vehicle battery market. On Behalf of the Board of Directors "Anthony Huston" (signed) For more information on Graphite One Inc., please visit the Company's website, X @GraphiteOne Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Note Regarding Forward-Looking Statements All statements in this release, other than statements of historical facts, including those related to entering into future binding arrangements between Lucid and Graphite One, the anticipated benefits of the relationship between Lucid and Graphite One., future production, establishment of a processing plant and a graphite manufacturing plant, completion of project financing, establishment of a battery materials recycling facility, and events or developments that the Company intends, expects, plans, or proposes are forward-looking statements. Generally, forward ‐ looking information can be identified by the use of forward ‐ looking terminology such as "proposes", "expects", "is expected", "scheduled", "estimates", "projects", "plans", "is planning", "intends", "assumes", "believes", "indicates", "to be" or variations of such words and phrases that state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". The Company cautions that there is no certainty that the Company will enter into a definitive agreement with Lucid and even if the Company does enter into such arrangement, that the anticipated outcomes will result. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, and continued availability of capital and financing, and general economic, market or business conditions. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this press release, and the Company undertakes no obligation to update publicly or revise any forward-looking information, except as required by applicable securities laws. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at
E&E News
14 hours ago
- Business
- E&E News
Trump issues Defense Production Act waiver for minerals, weapons
The Trump administration issued a waiver allowing it to expand the use of the Defense Production Act in a bid to boost production of critical minerals and weapons in the United States. The presidential waiver, dated May 23 and set to publish in the Federal Register on Wednesday, lifts certain statutory requirements under the Cold War-era law for 'munitions, missiles and associated equipment, and minerals.' It also notes the order extends to uranium, copper, potash and gold, which are not on the U.S. Geological Survey list of critical minerals. Advertisement 'Shortfalls in these areas would severely impair national defense capability,' the waiver reads. 'Ensuring a robust, resilient, and sustainable domestic industrial base is essential to our national security and the preservation of domestic critical infrastructure.'
Reuters
16 hours ago
- Business
- Reuters
Morning Bid: Global stocks hit record highs
LONDON, June 4 (Reuters) - What matters in U.S. and global markets today Despite all the trade and geopolitical tensions, markets have a spring in their step today, due to hopes that U.S. bilateral tariff deals will soon emerge, expectations that interest rates will fall in Europe, and signs of economic resilience and tech demand in the U.S. I discuss all this and the rest of today's market news below. Plus, check out today's column, where I explain why the euro's potential growth in reserve holdings could generate significant capital flows, even if it doesn't dethrone the dollar as the dominant global currency. Today's Market Minute * The U.S. tariff rate on most imported steel and aluminum doubled on Wednesday as President Donald Trump ratchets up a global trade war on the same day he expects trading partners to deliver their "best offer" in bids to avoid punishing import tax rates on other goods from taking effect in early July. * Billionaire Elon Musk plunged on Tuesday into the congressional debate over Trump's sweeping tax and spending bill, calling it a "disgusting abomination" that will increase the federal deficit. * Trump is set to use emergency powers and slash legal requirements relating to the Defense Production Act to lift U.S. production of critical minerals and weapons, according to a document seen by Reuters. * It is widely believed that investors around the world have a disproportionately high exposure to U.S. assets, an imbalance that could roil U.S. markets if corrected. But Reuters columnist Jamie McGeever explains why those fears may be overblown. * If 'American exceptionalism' truly is coming to an end, the key question for many investors is where capital may flow now. While Europe may be the obvious destination, Manishi Raychaudhuri, CEO of Emmer Capital Partners, argues that relative value metrics may favour emerging Asia. Global stocks hit record highs MSCI's all-country equity index (.MIWD0000PUS), opens new tab hit a record high on Wednesday, a whopping 23% surge from the intraday trough of April 7 hit after the initial U.S. tariff sweep. The world index is now almost 6% higher for the year. Wall Street continues to lag, but the S&P 500 (.SPX), opens new tab is positive again for the year and the Nasdaq is within a whisker of breaking even in 2025. Stock index futures are up again ahead of today's bell, with stocks in Europe and Asia also rising smartly. By contrast, U.S. Treasuries and the dollar (.DXY), opens new tab both fell back, with the long bond yield now back near 5% and the euro briefly re-capturing $1.14 against the greenback. But is the coast really that clear for stocks? Part of the week's seeming optimism hinges on hopes that the fast approaching deadline on the 90-day pause in U.S. 'reciprocal' tariffs will focus minds and deliver deals. Despite the hoopla over a UK agreement last month, no deals have been signed and sealed so far. Central to hopes of some trade detente is the planned phone call between President Donald Trump and China's President Xi Jinping. The White House claims it's happening this week, though it's unclear exactly when. And Trump posted on Wednesday that Xi was "very tough and extremely hard to make a deal with." Washington officially doubled its tariffs on steel and aluminum imports on Wednesday, exempting Britain for now. The Trump administration also expects negotiating countries to make "best offers" by today to avoid additional import levies kicking back in next month. Maros Sefcovic, the trade negotiator for the European Union, met U.S. Trade Representative Jamieson Greer in Paris on Wednesday, with the 27-nation bloc set to make its case for cutting or eliminating threatened tariffs on European imports. But concern about auto sector disruption from the U.S.-China trade standoff has also risen by several notches. Global automakers joined U.S. counterparts to complain that restrictions by China on exports of rare earth alloys, mixtures and magnets could cause production delays and factory outages without a quick solution. Trump, meantime, is set to use emergency powers and slash legal requirements relating to a law aimed at lifting U.S. production of critical minerals and weapons, according to a document seen by Reuters. But despite the very real disruption in manufacturing, there were other signs that the wider U.S. economy is weathering the storm reasonably well, with job openings unexpectedly increasing in April as a week of labor market updates unfolds. That helped Wall Street stocks move higher on Tuesday, but the rally is mostly being driven by Big Tech once again. Information technology stocks (.SPLRCT), opens new tab rose 1.5%, boosted by 2.9% gains by Nvidia (NVDA.O), opens new tab, which is back to being the world's most valuable firm. Chipmaker Broadcom (AVGO.O), opens new tab hit a fresh record high after the company said it has begun to ship its latest networking chip. Service sector survey readouts for May are due later, and European equivalents out earlier showed upward revisions to earlier flash readings. European stocks and the euro were higher ahead of the expected European Central Bank rate cut on Thursday, now seen as a done deal as euro zone inflation fell back below target in May. Markets reckon there's a 50-50 chance the Bank of Canada also cuts rates later today. The Canadian dollar held firm ahead of the decision. Elsewhere, South Korea's stocks jumped almost 3% and the won rallied 1% after the victory of liberal candidate Lee Jae-myung in the presidential election there. In today's column, I consider how a global reserve holdings shift in favor of the euro could generate massive amounts of additional investment in euro assets, even if the euro doesn't supplant the dollar. Chart of the day Switzerland is flirting with deflation yet again as a supercharged Swiss franc feeds off rising global tensions and depresses import prices. Swiss consumer prices fell 0.1% on an annual basis in May, the first negative print for more than four years. The Swiss National Bank is now widely expected to cut its main interest rate back to zero later this month, with markets pricing a one-in-three chance of policy rates returning to negative territory, where they languished for eight years until 2022. The SNB refuses to rule out a return to negative rates and may also have to resume heavy currency intervention to cap the franc to boot. The franc's nominal effective exchange rate index is up 5% since February and has appreciated by almost 30% over the past six years. Today's events to watch * Bank of Canada policy decision (9:45 AM EDT) * U.S. May private sector payrolls from ADP (1:15 PM EDT), May service sector business survey from ISM (10:00 AM EDT) * Federal Reserve publishes Beige Book on economic conditions. Atlanta Fed President Raphael Bostic speaks * NATO Secretary General Rutte convenes NATO Defence Ministers meeting in Brussels * European Commission President Ursula von der Leyen speaks in Brussels * U.S. corporate earnings: Dollar Tree Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, opens new tab, is committed to integrity, independence, and freedom from bias.
Yahoo
16 hours ago
- Business
- Yahoo
Morning Bid: Global stocks hit record highs
By Mike Dolan LONDON (Reuters) - What matters in U.S. and global markets today Despite all the trade and geopolitical tensions, markets have a spring in their step today, due to hopes that U.S. bilateral tariff deals will soon emerge, expectations that interest rates will fall in Europe, and signs of economic resilience and tech demand in the U.S. I discuss all this and the rest of today's market news below. Plus, check out today's column, where I explain why the euro's potential growth in reserve holdings could generate significant capital flows, even if it doesn't dethrone the dollar as the dominant global currency. Today's Market Minute * The U.S. tariff rate on most imported steel and aluminum doubled on Wednesday as President Donald Trump ratchets up a global trade war on the same day he expects trading partners to deliver their "best offer" in bids to avoid punishing import tax rates on other goods from taking effect in early July. * Billionaire Elon Musk plunged on Tuesday into the congressional debate over Trump's sweeping tax and spending bill, calling it a "disgusting abomination" that will increase the federal deficit. * Trump is set to use emergency powers and slash legal requirements relating to the Defense Production Act to lift U.S. production of critical minerals and weapons, according to a document seen by Reuters. * It is widely believed that investors around the world have a disproportionately high exposure to U.S. assets, an imbalance that could roil U.S. markets if corrected. But Reuters columnist Jamie McGeever explains why those fears may be overblown. * If 'American exceptionalism' truly is coming to an end, the key question for many investors is where capital may flow now. While Europe may be the obvious destination, Manishi Raychaudhuri, CEO of Emmer Capital Partners, argues that relative value metrics may favour emerging Asia. Global stocks hit record highs MSCI's all-country equity index hit a record high on Wednesday, a whopping 23% surge from the intraday trough of April 7 hit after the initial U.S. tariff sweep. The world index is now almost 6% higher for the year. Wall Street continues to lag, but the S&P 500 is positive again for the year and the Nasdaq is within a whisker of breaking even in 2025. Stock index futures are up again ahead of today's bell, with stocks in Europe and Asia also rising smartly. By contrast, U.S. Treasuries and the dollar both fell back, with the long bond yield now back near 5% and the euro briefly re-capturing $1.14 against the greenback. But is the coast really that clear for stocks? Part of the week's seeming optimism hinges on hopes that the fast approaching deadline on the 90-day pause in U.S. 'reciprocal' tariffs will focus minds and deliver deals. Despite the hoopla over a UK agreement last month, no deals have been signed and sealed so far. Central to hopes of some trade detente is the planned phone call between President Donald Trump and China's President Xi Jinping. The White House claims it's happening this week, though it's unclear exactly when. And Trump posted on Wednesday that Xi was "very tough and extremely hard to make a deal with." Washington officially doubled its tariffs on steel and aluminum imports on Wednesday, exempting Britain for now. The Trump administration also expects negotiating countries to make "best offers" by today to avoid additional import levies kicking back in next month. Maros Sefcovic, the trade negotiator for the European Union, met U.S. Trade Representative Jamieson Greer in Paris on Wednesday, with the 27-nation bloc set to make its case for cutting or eliminating threatened tariffs on European imports. But concern about auto sector disruption from the U.S.-China trade standoff has also risen by several notches. Global automakers joined U.S. counterparts to complain that restrictions by China on exports of rare earth alloys, mixtures and magnets could cause production delays and factory outages without a quick solution. Trump, meantime, is set to use emergency powers and slash legal requirements relating to a law aimed at lifting U.S. production of critical minerals and weapons, according to a document seen by Reuters. But despite the very real disruption in manufacturing, there were other signs that the wider U.S. economy is weathering the storm reasonably well, with job openings unexpectedly increasing in April as a week of labor market updates unfolds. That helped Wall Street stocks move higher on Tuesday, but the rally is mostly being driven by Big Tech once again. Information technology stocks rose 1.5%, boosted by 2.9% gains by Nvidia, which is back to being the world's most valuable firm. Chipmaker Broadcom hit a fresh record high after the company said it has begun to ship its latest networking chip. Service sector survey readouts for May are due later, and European equivalents out earlier showed upward revisions to earlier flash readings. European stocks and the euro were higher ahead of the expected European Central Bank rate cut on Thursday, now seen as a done deal as euro zone inflation fell back below target in May. Markets reckon there's a 50-50 chance the Bank of Canada also cuts rates later today. The Canadian dollar held firm ahead of the decision. Elsewhere, South Korea's stocks jumped almost 3% and the won rallied 1% after the victory of liberal candidate Lee Jae-myung in the presidential election there. In today's column, I consider how a global reserve holdings shift in favor of the euro could generate massive amounts of additional investment in euro assets, even if the euro doesn't supplant the dollar. Chart of the day Switzerland is flirting with deflation yet again as a supercharged Swiss franc feeds off rising global tensions and depresses import prices. Swiss consumer prices fell 0.1% on an annual basis in May, the first negative print for more than four years. The Swiss National Bank is now widely expected to cut its main interest rate back to zero later this month, with markets pricing a one-in-three chance of policy rates returning to negative territory, where they languished for eight years until 2022. The SNB refuses to rule out a return to negative rates and may also have to resume heavy currency intervention to cap the franc to boot. The franc's nominal effective exchange rate index is up 5% since February and has appreciated by almost 30% over the past six years. Today's events to watch * Bank of Canada policy decision (9:45 AM EDT) * U.S. May private sector payrolls from ADP (1:15 PM EDT), May service sector business survey from ISM (10:00 AM EDT) * Federal Reserve publishes Beige Book on economic conditions. Atlanta Fed President Raphael Bostic speaks * NATO Secretary General Rutte convenes NATO Defence Ministers meeting in Brussels * European Commission President Ursula von der Leyen speaks in Brussels * U.S. corporate earnings: Dollar Tree Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias. (By Mike Dolan; Editing by Anna Szymanski.) Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Time of India
a day ago
- Business
- Time of India
Donald Trump set to waive some legal requirements to boost critical minerals
President Donald Trump is set to use emergency powers and slash legal requirements - including some congressional funding approvals - relating to a law aimed at lifting U.S. production of critical minerals and weapons, according to a document seen by Reuters. Trump's action would apply to the Defense Production Act , a U.S. law that grants the president broad emergency powers to control domestic industries and resources during national security emergencies. The move would represent the latest attempt by the White House to reshape a critical mineral industry dominated by China, the top U.S. economic rival. China is using its leverage in response to Trump's trade war, recently halting critical mineral exports and rattling global supply chains. The document is expected to be published on the Federal Register on Wednesday, the government web site shows. Trump invoked the Korean War-era law in March to help boost domestic production of critical minerals used to make consumer goods, computer chips, robots and advanced weaponry. Live Events The law places some restrictions on the president's authority, such as requiring the White House to seek congressional approval for projects over $50 million and forcing project delivery dates within a one-year time frame. The president can waive those requirements in the event of an emergency and Trump is expected to invoke those powers, according to the document seen by Reuters on Tuesday, ahead of its expected publication. The White House did not immediately respond to a request for comment. Former President Joe Biden signed similar waivers to speed up production of vaccines and medical equipment during the COVID-19 pandemic. John Paul Helveston, a professor at George Washington University, said U.S. investments in critical minerals represent a long-term solution to the problem, leaving the nation vulnerable to China's trade policy in the short run. "This all means that if the U.S. wants to have access to these minerals over the next 5-10 years, the U.S. will have to maintain a trade relationship with China ," Helveston said.
