Canadian mining company Graphite One announced Thursday its plans to triple its planned production rate at a proposed graphite mine on the Seward Peninsula. This comes as the company completes an accelerated two-year drilling program, funded in part by the U.S. Department of Defense.
Over the last two summers, Graphite One intensified its core sampling operations at the remote site, drilling hundreds of holes to get a more accurate estimate of the graphite deposit’s size. According to a press release, it found the deposit had 317% more graphite than previously measured.
Also fueling the uptick in production is growing demand for domestically produced graphite.
The company’s VP of Mining, Kevin Torpy, said in an email that Graphite One increased its production goal, “to remain economically competitive with foreign graphite producers as we establish a fully U.S. domestic supply chain.”
Torpy also said the scaled up operation will decrease overall operating costs without increasing fixed costs.
More detailed plans for the proposed mine will be unveiled next month with the release of the company’s feasibility study. If permits are approved, the mine is expected to open by 2029 and operate for 20 years.
The company’s current plans encompass just over a mile wide stretch along the Kigluaik Mountain range. Graphite One says nearly 10 miles along the craggy mountain range have shown signs of containing graphite.
