780 AM | 96.1 FM 

“YOURS FOR WESTERN ALASKA”

(907) 443-5221

Graphite One Announces Revised Cost-Share Agreement

Mike Schaffner, Senior Vice President of Mining for Graphite One, responds to a question from a community member at a meeting in April 2024. Ben Townsend photo.

Graphite One Inc. has announced a revised cost-share agreement with the Department of Defense (DoD) to accelerate the completion of its feasibility study for a graphite mine project 35 miles north of Nome. The new agreement finalized on May 17 increases the DoD’s share of expenditures from 50% to 75%. 

The Graphite Creek deposit is recognized by the U.S. Geological Survey as the largest graphite deposit in the U.S. Through the project the DoD aims to reduce dependence on imported graphite, primarily sourced from China.

Graphite One CEO Anthony Huston said in a press release that the amended investment “demonstrates the momentum Graphite One is building.”

“We welcome the support of the Department of Defense as we continue our efforts to build a U.S. industrial capacity that serves the renewable energy transition, technology development, and national security,” Huston said. 

The DoD will now contribute up to $37.3 million to Graphite One to cover expenses related to completing the feasibility study. The study is expected to cost a total of $75 million and conclude by the end of this year.

Feasibility studies are conducted by mining companies to evaluate the viability of a site before any mining operations begin. Their findings will inform permit applications, equipment and infrastructure needs, and economic outcomes. 

Following permit approvals construction of the mine is slated to begin in 2027, with operations expected by 2029. Graphite from Alaska will be transported to a new facility in Niles, Ohio, for refinement into graphite anodes, a crucial component in lithium-ion batteries used in phones, electric vehicles, and more.

Did you enjoy this News story?

Consider supporting our work by becoming a one-time or recurring donor.

Share this story

Facebook
Twitter
LinkedIn
Email

Recent Posts

A silver / coho salmon, held just out of the water

ADF&G Announces 24 Hour Commercial Fishing Period for Salmon

The Alaska Department of Fish and Game (ADF&G) has announced that commercial salmon fishing will open in Norton Sound Subdistricts 1-2 and 4-6 for a 24-hour period starting Saturday, July 20. ADF&G hopes to use the window to assess early-season Coho salmon abundance and ensure future management actions are well-informed.

Read More »

July 4: Rick Thoman’s Climate Highlight for Western Alaska

The following is a transcript from Rick Thoman’s weekly “Climate Highlight for Western Alaska” provided to KNOM Radio. Thoman is a Climate Specialist with the Alaska Center for Climate Assessment and Policy at the University of Alaska Fairbanks. As we head into the latter days of July, daylights starting to

Read More »

More

Newsletter:

Work for Us:

Jobs

Contact

Nome:

(907) 443-5221 

Anchorage:

(907) 868-1200 

Land Acknowledgement

We acknowledge that KNOM Radio Mission is located on the customary lands of Indigenous peoples. 

Based in the Bering Strait region, KNOM broadcasts throughout the homelands of the Iñupiaq, Siberian Yup’ik, Cup’ik and Yup’ik peoples.