Westwater Resources Supports Tariff Increase on Imported Chinese Graphite

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.