GRAPHITE ONE SECURES LARGE INCREASE IN FUNDING SUPPORT
relative abundance of HREEs at Graphite Creek.
defense systems such as precision-guided muni- tions and radar. Rare-earth elements further enable high-performance fiber optics, lasers, catalysts and phosphors in displays and lighting. Their distinct magnetic, optical and catalytic properties make them indispensable across military applications and com- mercial electronics, renewable energy, and telecom- munications — underscoring their strategic impor- tance to U.S industry and national security. China, the world’s largest producer of the full range of rare-earths, imposed export limits on the magnet rare-earths in February 2024 and tightened graphite exports in December 2024, highlighting the impor- tance of the development of Graphite Creek Mine. “The presence of two Defense Production Act Title III materials — graphite and REEs — in a single deposit further underscores Graphite Creek’s position as a truly generational deposit,” Huston said. “Given the robust economics of our complete graphite materials supply chain, the presence of rare-earths at Graphite Creek suggests that recovery as a by-product to our graphite production will maximize the value of what is already the U.S.’s largest natural graphite deposit.”
n 85% of the REEs in the garnet material are magnet or HREEs. n Dysprosium in the garnets ranges from 32-63 parts per million (ppm); Yttrium in garnets ranges from 198-427 ppm; Scandium ranges from 84 to 141 ppm. “While these results are preliminary, they are clearly promising,” said Anthony Huston, President and CEO of Graphite One. “Few rare earth deposits have such a strong presence of magnet and heavy rare-earths. With Graphite Creek already confirmed by the USGS as the nation’s largest natural graphite deposit ‘and among the largest in the world,’ the presence of 14 magnet or heavy rare-earths at Graphite Creek further confirms that ours is a generational deposit for the tech applications transforming our world.” Rare-earth elements are vital to 21st century tech- nology, with neodymium, praseodymium, dyspro- sium, terbium and samarium forming essential building blocks of powerful permanent magnets used in wind turbines, electric vehicles and advanced
resource in Graphite Creek anchoring a 100% U.S.- based advanced graphite materials supply chain.” Graphite One said it expects to submit a formal application to EXIM under both LOIs in 2026. Upon receipt, EXIM will conduct all requisite due dili- gence necessary to determine if a final commitment may be issued. Any final commitment is subject to EXIM’s eligibility, credit, and approval requirements and satisfaction of terms and conditions. All final commitments must comply with EXIM policies as well as program, legal and eligibility requirements. Given China’s dominance over global graphite pro- duction, the EXIM Letters of Interest indicate the transaction may also be eligible for special consid- eration under Section 402 of EXIM’s 2019 reauthori- zation (P.L. 116-94), which directs EXIM to take steps to mitigate the competitive impact of export support provided by the People’s Republic of China and other covered countries for opportunities such as this one under EXIM’s CTEP initiative. INDEPENDENT TESTS CONFIRM ELEVATED MAGNET, RARE-EARTHS AT ALASKA GRAPHITE DEPOSIT Graphite One also announced in December that results from independent analysis of Graphite Creek garnet material confirm the presence of rare-earth elements in the Graphite Creek deposit, with ele- vated levels of the magnet and heavy rare-earth elements (HREE). The drill core samples were from the anticipated pit outlined in Graphite One’s feasi- bility study completed in February 2025, suggesting that rare-earth element recovery could potentially proceed alongside graphite extraction in the early years of mining operations. Key findings from the testing performed by Activation Laboratory of Ancaster, Canada, include: n Bulk rock geochemical analyses indicate that Graphite Creek hosts an increased proportion of “Magnet REEs” and HREEs relative to LREEs. n Garnets, known for housing HREE+Sc+Y in their mineral structure, appear to be the reason for the
COURTESY GRAPHITE ONE Graphite One announced in mid-December that it received amended, non-binding letters of interest (LOI) from the Export-Import Bank of the United States (EXIM) for potential debt financing. The previous EXIM LOI to finance the company’s Graphite Creek Project north of Nome — $570 million — was increased to $670 million under the amended agreement. In addition, the EXIM LOI for Graphite One’s advanced graphite materials manufacturing plant planned for northeastern Ohio, was increased from $325 million to $1.4 billion with a repayment tenor of 15 years under EXIM’s Make More in America Initiative. The large increase of the Ohio facility LOI will support a phased increase in production capacity in 25,000 metric ton increments to an annual pro- duction rate of 100,000 metric tons of anode active material, according to Graphite One. The combined LOIs for Graphite One’s 100% U.S.-based supply chain solution now total more than $2 billion. The LOIs are executed through EXIM’s “Make More in America” and “China and Transformational Exports Program” initiatives. “Graphite One is building America’s graphite supply chain from the ground up — from the largest natural graphite deposit in the country in Alaska, to process- ing facilities in Ohio,” said John Jovanovic, President and Chairman of EXIM. “This is exactly the kind of project President Trump’s agenda demands: securing critical minerals, revitalizing American manufacturing capacity, and helping support the jobs of the future across our great country.” Anthony Huston, President and CEO of Graphite One, echoed the sentiments. “All of us at Graphite One are so appreciative of the support we are receiving from EXIM under the lead- ership of Chairman Jovanovic,” Huston said. “There is no reason the U.S. should be dependent on for- eign-sourced graphite when we have a generational
RESPONSIBLE GROWTH. ROOTED IN RESPECT.
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THE ALASKA MINER - THE MAGAZINE OF THE ALASKA MINERS ASSOCIATION
WINTER 2026 | ALASKAMINERS.ORG
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