Miner is first to receive such a grant
The United States Department of Defense has awarded a subsidiary of Vancouver-based junior miner Graphite One Inc. a grant of $37.5 million to develop a mining project in Alaska, with the aim of lessening America’s dependence on China for metals needed to transition away from fossil fuels.
While a number of Canadian miners have applied to the Department of Defense (DOD) for funding, Graphite One, through its subsidiary in the U.S., is the first to receive such a grant, the company’s chief executive Anthony Huston said. It’s also the first graphite miner to receive a fund from the department, he added.
The demand for graphite is expected to increase in the coming years, largely due to its use in electric vehicles. Graphite One’s strategy includes mining from its Graphite Creek property in Alaska and processing the material through a manufacturing plant expected to be built in Washington State. The company also plans to build a recycling facility to reclaim the mineral.
The United States is completely dependent on China for natural graphite. As such, Graphite One made the case that the development of a U.S.-based graphite project met its “key national security priorities,” Huston said.
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