construction could begin in 2027 and production in 2029. The company’s state mining claims cover the largest natural graphite deposit in the U.S. The site is 18 miles north of Nome, a historic gold mining community. In production, Graphite One would produce 175,000 tons or natural graphite ore per year, enough to supply 8 percent of U.S. needs. It will be the first domestic mine producing graphite mine in the U.S. since the last mine closed in 1995, America is now dependent on China for natural graphite, which is used in variety of computer, military and other technologies including batteries for electric vehicles. Graphite One was formed in 2012 when it acquired rights to the graphite deposit, which was discovered in 1902 and saw limited production during World War I. The company completed a pre-feasibility study in 2022 that considered a smaller mine, but the company said potential customers advised it to revise its plan and develop a larger project. With that advice, Graphite One scaled the plan to up to 175,000 tons per year and completed a summer, 2024 exploration program as part of a feasibility study for a larger mine. The U.S. Department of Defense had awarded a $37.5 million grant to the company to help finance the feasibility study, which will pay for 50 percent of the feasibility study cost and will speed development of the project by five years. The defense department program is part of the federal government’s effort to aid development of minerals important for defense. There will be new estimates of measured and indicated resources developed in the feasibility study needed for a 20-year mine life, but Graphite One Vice President Mike Schaffner said the known graphite resources in the area are much larger. The feasibility study estimate will be based on the drilling done to date at the ore body, he said. Graphite ore will be concentrated at the site to a 95 percent purity and transported in containers by truck to 18 miles Nome, which is also engaged in an expansion of its port. The ore will be further concentrated to a 99 percent purity to be shipped to a manufacturing facility Graphite One is also developing in the Lower 48. Graphite One would manufacture materials for anodes used in batteries. The company also plans a battery recycling unit as part of the project. www.AKRDC.org 15 VOLUVMOLEU1M| IESS1 |UIESS2U| ESU3 |MFMAELRL 2024
RkJQdWJsaXNoZXIy MTcxMjMwNg==