"The number of folks talking about JVs and onshoring is very different than even just a couple of years ago,” said DOE Chelsea Sexton.

The EU is due to unveil its Critical Raw Materials Act on March 8 to secure the bloc's supply of critical raw materials.

The proposed Uatnan project is currently one of the largest projected natural graphite mines in the world.

Production is to begin in an $8 million first phase at a rate of 5,000 tonnes of concentrate per year from an open pit.

Electra claims it will process up to 75 tonnes of black mass material in batches mode using its proprietary hydrometallurgical process in the demonstration plant.

Graphex Technologies has a self-contained graphite processing ecosystem in China and has bought a plant to process the metal in Michigan.