Graphite One Becomes First Alaskan Critical Minerals Project on FAST-41
Graphite One, EV Maker Lucid Enter into Second Supply Agreement
Graphite One Inc. announced June 3 that the Company’s Graphite Creek project — the upstream anchor for G1’s complete U.S.-based advanced graphite supply chain has been accepted as a “covered project” onto the FAST-41 Permitting Dashboard. Graphite One’s project is the first Alaskan mining project to be listed on the FAST-41 Dashboard. “The approval of Graphite Creek as FAST-41’s first Alaskan mining project is a major step for G1 and our complete U.S.-based supply chain strategy,” said Anthony Huston, CEO of Graphite One. “With President Trump’s Critical Mineral and Alaska Executive Orders, Graphite One is positioned at the leading edge of a domestic Critical Mineral renaissance that will power transformational applications from energy and transportation to AI infrastructure and national defense.” Graphite One’s domestic supply chain is planned to produce graphite concentrate from the Graphite Creek deposit North of Nome, Alaska and Anode Active Material at a facility to be constructed in Warren, Ohio, subject to financing the project. FAST-41 status follows publication of Graphite One’s Feasibility Study on April 23, which, with the support of the Department of Defense Production Act award, was completed 15 months ahead of schedule. The annual graphite concentrate capacity of the Graphite Creek Mine in the FS was increased from that in the 2022 Pre-Feasibility Study — from 53,000 tpy to 175,000 tpy while maintaining a 20-year mine life. Measured plus Indicated Resources increased to 322% of the PFS resource. The FS projects a post-tax internal rate of return of 27%, using an 8% discount rate, with a net present value of $5.03 billion and a payback period of 7.5 years. FAST-41 streamlines the permitting process by providing improved timeliness and predictability by establishing publicly posted timelines and procedures for federal agencies, reducing unpredictability in the permitting process. FAST-41 also provides issue resolution mechanisms, while the federal permitting dashboard allows all project stakeholders and the general public to track a project’s progress, including periods for public comment. The action drew strong support from Alaska’s leading public officials: “America’s dependency on foreign minerals and metals is a drag on our economy and a danger to our national security,” said Alaska Gov. Mike Dunleavy. “As the largest natural graphite deposit in the nation, adding Graphite Creek to the FAST-41 Permitting Dashboard sends a strong signal that Alaska is key to U.S. Critical Mineral development.”
Graphite One Inc. announced June 4 that as part of its plan to build a complete U.S. supply chain for advanced graphite materials, the company has entered into a second non-binding supply agreement for anode active materials with Lucid Group, Inc. maker of the world’s most advanced electric vehicles. Whereas the previous agreement announced in July 2024 involved synthetic graphite AAM, the agreement announced today covers natural graphite AAM which will be supplied to Lucid and its battery cell suppliers for use in future vehicles. “This agreement complements the deal we struck with Lucid in 2024 – which marked the first synthetic graphite agreement between a U.S. graphite developer and a U.S. EV company. We made history then – and we’re continuing to make history now, as the deal makes Graphite One the only company to date to provide both natural and synthetic graphite materials required for battery anodes to a U.S. EV company,” said Graphite One CEO Anthony Huston. “From Presidential Executive Orders to increase mineral resource production and leveraging Alaska’s resource potential, to the recent inclusion of our Company on the Federal Fast-41 Permitting Dashboard — we are building momentum for our efforts to develop a fully domestic graphite supply
“Graphite One’s addition to the FAST-41 permitting dashboard is yet another indication that this project is a national priority of strategic importance,” said Sen. Lisa Murkowski. “There is no question that developing the largest natural graphite deposit in all of North America is far better for our economy, security, and competitiveness than importing the entirety of our supply from unstable nations like Mozambique. I thank the Trump administration for adding Graphite One to the dashboard and look forward to the day this project comes online.” “I want to congratulate Graphite One, which has achieved this milestone thanks to funding from the Defense Production Act, something I have been working on relentlessly in the Senate since the project’s inception,” said Sen. Dan Sullivan. “This project has the potential to open up our state’s abundant reserves of critical minerals and metals, which would also be very significant for our country’s national security. We must end America’s dependence on China for critical minerals, like graphite, resources that are necessary for alternative energy and sources and critical defense technologies. Thankfully, President Trump understands our state’s great potential, and is determined to help unleash our vast resources and create good paying jobs to Alaskans. Graphite One’s FAST-41 status is great news for our state and our country.” “Securing our supply chains for critical minerals is a core priority and requires a whole of government approach.” said Alaska Congressman Nick Begich. “Our national security, sovereignty, and continued self- determination require that we take action, and Graphite One is leading the way.” Graphite One’s Complete U.S.-Based Supply Chain Strategy The project is planned as an integrated business operation to produce lithium-ion battery anode materials and other graphite products for the U.S domestic market on a commercial scale using primarily natural graphite from Alaska. The project combines the operation of an advanced graphite manufacturing facility to be located in Warren Ohio with the supply of natural flake graphite from the Company’s proposed Graphite Creek Mine in Alaska. The resources associated with the Company’s Alaska State mining claims were cited by the U.S. Geological Survey in January 2022 as America’s largest natural graphite deposit, and in 2023, “as among the largest in the world.” This precedes the FS-verified deposit amount increase. The Ohio manufacturing facility received a $325M Letter of Interest from the EXIM Bank in September 2024.
chain, to meet market demands and strengthen U.S. industry and national defense.” The Supply Agreement follows publication of Graphite One’s feasibility study prepared in accordance with National Instrument 43-101 this spring, which with the support of Defense Production Act Title III funding, was completed 15 months ahead of schedule and showed a tripling of the Company’s proven and probable reserves. The Supply Agreement is non-binding and commences once the Company begins production of natural graphite. The initial term is for 5 years, subject to earlier termination. Sales are based on a price formula agreeable to both parties. The Supply Agreement is subject to other terms, conditions and termination rights standard for an agreement of this nature. Lucid is a Silicon Valley-based technology company focused on creating the most advanced EVs in the world. The award-winning Lucid Air and new Lucid Gravity deliver best-in-class performance, sophisticated design, expansive interior space and unrivaled energy efficiency. Lucid assembles both vehicles in its state-of-the-art, vertically integrated factory in Arizona. Through its industry- leading technology and innovations, Lucid is advancing the state-of-the-art of EV technology for the benefit of all.
America’s Supply Chain for the Electrification of Everything
EVs and UAVs... Laptops and LEDs... Smartphones, solar cells and satellites... A revolution in materials science is changing our world. Graphite is at the center of that revolution. Graphite One: America’s Complete Advanced Graphite Supply Chain Solution Graphite One
Tech Materials for Global Ingenuity www.GraphiteOneInc.com TSX-V: GPH OTCQX: GPHOF
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June 2025 I The Alaska Miner I www.alaskaminers.org
www.alaskaminers.org I The Alaska Miner I June 2025
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