Alaska Governor Mike Dunleavy applauds the $37.5 million Department of Defense (DOD) grant to Graphite One, Inc., for its project near Nome. Using this grant, Graphite One can advance the development of its world-class natural graphite deposit and encourage economic growth in the nation.
“Thank you to the Department of Defense for recognizing the importance of Alaska’s vast mineral wealth, one example being Graphite One,” said Governor Dunleavy. “Alaska is a resource powerhouse in a strategic position globally, with much more to offer than just our beautiful scenery and wildlife. Because of projects like Graphite One, we’ll continue to lead in producing natural resources like critical minerals and even oil and natural gas. Thank you to our Alaska Delegation for their diligent work to open up significant opportunities for our state.”
The Graphite One project, located roughly 37 miles north of Nome, Alaska, encompasses the Graphite Creek prospect, which the U.S. Geological Survey has determined to be the largest natural graphite deposit in America. Graphite One plans to build a complete domestic supply chain for natural graphite, anchored by the responsible mining of the Graphite Creek deposit and extending to a battery anode manufacturing facility in Washington state, which will be co-located with a battery recycling plant.
Once operational, production from Graphite One will substantially reduce the U.S.’ wholesale dependence on China and other nations for natural graphite. For at least three decades, the U.S. has imported 100 percent of its supply of this critical mineral, which is used for everything from headphones to the advanced rechargeable batteries in smartphones and electric vehicles. According to the U.S. Geological Survey, domestic imports of natural graphite increased by 48 percent in 2021 and by 55 percent in 2022.
Graphite One’s grant also arrives just as the use of strategic minerals such as graphite is set to skyrocket. By one rough estimate, each additional one million electric vehicles on the road will require about 80,000 tons of graphite. Based on this, Benchmark Minerals has projected that 97 new graphite mines will be needed by 2035 alone, compared to the just over 70 in operation today. The International Energy Agency (IEA) has projected that global demand for graphite from clean energy technologies could increase 25-fold—by 2,500 percent—by 2040.
Alaska Senator’s Lisa Murkowski (R), and Dan Sullivan (R), as well as Alaska Congressmember Mary Peltola (D) have strongly supported the Graphite One project, including its application for this award, over the course of years.
During her address to the U.S. Senate, Sen. Murkowski lauded the progress being made at Graphite One;
“It was eye opening to see how Graphite One is moving forward as they are doing further exploration with this absolutely critical resource.”
The United States is currently import-dependent on natural graphite; graphite has not been produced in the United States since the 1950s. Once operational, Graphite One will significantly reduce the U.S.’s dependence on China and other nations for natural graphite. Read more about Graphite One here.
