As Europe looks to declare its tech independence by becoming a leader in next-generation batteries, it will have to start by making its own graphite. The problem is, nearly all of it now comes from Asia, mainly China.
Automakers in particular are racing to shift to electric fleets, under growing pressure to cut carbon emissions and the reliance on fossil fuels.
Batteries make up around 40 percent of the value of an electric car, but are currently made by companies in South Korea, China and Japan.
Blencowe Resources Plc (LON:BRES) is a United Kingdom-based mineral exploration and development company. The Company is focused on exploration and development of the Orom Graphite Project in the Republic of Uganda.