Westwater Resources Supports Tariff Increase on Imported Chinese Graphite

Rhea-AI Summary

Westwater Resources (NYSE: WWR) endorses the new 10% tariff increase on Chinese graphite imports, effective March 4, 2025. This follows a previous 10% increase from February 4, 2025, bringing total tariffs on Chinese natural graphite to 45%. A pending International Trade Commission review in May 2025 could potentially raise tariffs up to 920%.

According to Chief Commercial Officer Jon Jacobs, these increased tariffs are driving demand for U.S.-produced anode material, with automakers and cell manufacturers seeking domestic supply agreements to avoid import tariffs. The company positions itself as a solution for stable, long-term battery-grade natural graphite supply in the U.S. market.

Positive

• Tariff increase to 45% on Chinese graphite imports benefits WWR as a domestic producer
• Potential further tariff increase up to 920% pending ITC review
• Growing demand for U.S.-produced anode material due to tariffs

Negative

• None.

CENTENNIAL, Colo.--(BUSINESS WIRE)-- Westwater Resources, Inc. (NYSE American: WWR), an energy technology and battery-grade natural graphite company (“Westwater” or the “Company”), supports the recently announced 10% increase in Chinese import tariffs affecting natural graphite.

The tariff increase effective March 4, 2025 follows the previous round of 10% tariff increases imposed by the U.S. on all goods originating from China on February 4, 2025. With this new increase, imported Chinese natural graphite tariffs now total 45%. The pending trade case that is currently under review by the International Trade Commission, with updates expected in May 2025, could potentially further increase graphite tariffs up to a level of 920%.

Jon Jacobs, Westwater’s Chief Commercial Officer, commented, “Increased import tariffs on natural graphite are spurring demand for U.S.-produced anode material. With each tariff announcement, automaker and cellmaker companies seeking to capitalize on the U.S. EV market are increasingly concluding that off-take deals with U.S. producers like Westwater are the surest way to avoid import tariffs – from any country – over the long-term. Westwater remains ready and well-positioned to help its customers lock in stable, predictable supply agreements for battery-grade natural graphite.”

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 largest and 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 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 “affecting,” “increase,” “pending,” “potentially,” “expect,” “spurring demand,” “surest way,” “predictable,” “under review,” and other similar words or phrases. Forward looking statements include, among other things, statements concerning: the importance of critical minerals including battery-grade graphite; establishing a graphite industry in the U.S.; tariffs associated with the importation of natural graphite into the U.S.; the Company’s business plans for its Kellyton Graphite Processing Plant; and efforts to manage existing off-take agreements or to put new supply agreements into place for the products from that Plant. The Company cautions that there are 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 the Company; accordingly, there can be no assurance that such suggested results will be realized. Those uncertainties and other factors are discussed in Westwater’s Annual Report on Form 10-K for the year ended December 31, 2023, and subsequent securities filings, and they could cause actual results to differ materially from management expectations.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250306537276/en/

Westwater Resources, Inc.

Email: Info@WestwaterResources.net

Investor Relations

Email: Investorrelations@westwaterresources.net

Source: Westwater Resources, Inc.

FAQ

What is the new tariff rate on Chinese graphite imports after March 4, 2025?

The total tariff on Chinese natural graphite imports will be 45% after the new 10% increase effective March 4, 2025.

How high could tariffs on Chinese graphite potentially rise according to the pending ITC review?

The International Trade Commission review in May 2025 could potentially increase graphite tariffs up to 920%.

How are the increased tariffs affecting Westwater Resources' (WWR) market position?

The tariffs are increasing demand for U.S.-produced anode material, with automakers and cell manufacturers seeking domestic supply agreements with companies like WWR.

When will the International Trade Commission update its review on graphite tariffs?

The International Trade Commission is expected to provide updates on the graphite tariff review in May 2025.