VANCOUVER, British Columbia--(BUSINESS WIRE)--Lomiko Metals Inc. (TSX-V: LMR, OTC: LMRMF, FSE: DH8C) (Lomiko or the “Company) has been monitoring government initiatives within the Critical Minerals industry. Recently, the Quebec Plan for Development of Critical and Strategic Minerals (“The Quebec Plan”) indicated that graphite demand would likely increase 300-500% in the coming decades.
The Quebec Plan calls for support for companies and local communities in the development of critical and strategic mineral industries with ethical and responsible practices which would attract investment.
The Quebec Plan is prepared to support the exploration and mining of Critical and Strategic Minerals (CSMs) including sharing the financial risk of exploration and assistance in relations with local communities and First Nations. The Plan also addresses the need for infrastructure improvement and meshes with the Canada-U.S. Joint Action Plan on Critical Minerals Collaboration, which is focused on securing supply chains for the critical minerals needed for important manufacturing sectors in North America.
What is graphite and what is it used for?
Graphite is a naturally occurring crystalline form of carbon which is soft, greyish-black with a metallic sheen. Interest in graphite has increased because it is used in the lithium-ion batteries that power electric cars. However, there are other significant uses. In steelmaking it increases its carbon content and makes steel products stronger. In the automobile industry, graphite is used in gaskets, brake linings and clutch materials. It also has a range of other industrial uses, including in components of electric motors, batteries, lubricants, and pencils.
On Behalf of the Board,
“A. Paul Gill”
Chief Executive Officer
We seek safe harbor. Neither 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