- Westwater Resources (WWR, Financial) supports the U.S. Department of Commerce's decision to impose tariffs on Chinese graphite anode materials.
- The preliminary ruling imposes U.S. import tariffs of up to 721% on certain Chinese graphite producers due to unfair government subsidies.
- This decision aims to benefit domestic producers like Westwater by stimulating off-take agreements and supporting U.S. supply chain independence.
Westwater Resources, Inc. (WWR), a battery-grade natural graphite company, has expressed its support for the U.S. Department of Commerce's preliminary determination in the countervailing duty investigation concerning anode material imported from China. The DOC's initial ruling identified that Chinese producers are benefiting from unfair government subsidies, resulting in proposed tariffs of up to 721% on selected imports.
"This important decision by the DOC is another step toward leveling the playing field for U.S. producers," mentioned Jon Jacobs, Westwater’s Chief Commercial Officer. He added that this announcement is expected to accelerate off-take agreements with Westwater and positively impact ongoing financing efforts.
The DOC ruling mandates the tariffs on top of existing Section 301 and reciprocal tariffs, which currently stand at 55%. Additionally, the Department is conducting an antidumping investigation aimed at determining whether Chinese producers are selling graphite-based anode materials at unfairly low prices in the U.S. market. A decision on this is anticipated in July, which could lead to additional duties if dumping is confirmed.
Westwater Resources is focusing on developing battery-grade natural graphite through projects such as the Kellyton Graphite Processing Plant in Alabama and the Coosa Graphite Deposit, which is the largest natural flake graphite deposit in the contiguous United States. The company sees these trade actions as critical in developing a durable and independent U.S. supply chain for graphite and battery materials.
