Mining News: News Nuggets: Graphite One, AIDEA agree to assess Graphite Creek potential

Graphite One Resources Inc. Feb. 16 said it has entered into a memorandum of understanding with the Alaska Industrial Development and Export Authority to explore opportunities to collaborate on the development of the Graphite One project, a plan outlined in a recent preliminary economic assessment for developing a mine and initial processing facility at the company’s Graphite Creek project in western Alaska and a separate manufacturing facility that would produce high-grade coated spherical graphite primarily for lithium-ion electric vehicle batteries. The MOU acknowledges that Graphite One has engaged in preliminary discussions with Alaska officials from the Department of Commerce, Community and Economic Development, Department of Natural Resources and AIDEA to begin evaluating potential sites, within Alaska but away from the Graphite Creek property, at which facilities might be developed for further processing of Graphite Creek graphite. Criteria for an Alaskan site for such a facility include power cost and supply, availability of industrial zoned land, proximity to tidewater and port facilities, and infrastructure that allows easy access for the workforce. AIDEA has provided Graphite One a list of potential sites in Alaska to evaluate whether they might satisfy some or all of these needs. "Following the recent release of our preliminary economic assessment, this MOU with AIDEA marks an important step in progressing our studies on the development of our Graphite One project," said Graphite One CEO Anthony Huston. "It serves as a strong signal of Alaska's commitment to responsible development of the state's natural resources. Graphite One pledges to be a responsible partner in this potential development." The goals of the MOU include: developing strategies to maximize local economic benefits and job opportunities as a result of responsible development of the Graphite One project; laying the groundwork for assessing the potential opportunities at each of the proposed locations for processing and manufacturing facilities; developing a framework for AIDEA and Graphite One to engage cooperatively with and gather input from local communities and other stakeholders; identify permit requirements; and to investigate options and opportunities for AIDEA to participate in funding some of the project facilities.

-Shane Lasley