Graphite One says Alaska project on track for September permitting decision

Graphite One (TSXV: GPH) says its flagship project in Alaska remains on track for a September permitting decision as it continues to undergo federal review under the FAST-41 program.

In June, the Graphite Creek project — considered the largest graphite resource in the US — was selected for inclusion in the FAST-41 framework, a federal government initiative designed to streamline the permitting process for what it deems to be major infrastructure projects.

At the time, Graphite Creek was the first project in Alaska to be added to the FAST-41 permitting dashboard.

Following a 60-day coordinated project plan (CPP) process, the FAST-41 website published a detailed permitting timetable, giving the project an approximate 13.5-month environmental review period. That places the projected completion date at September 29, 2026. 

In an update on Monday, Graphite One said the project remains “in progress” under the leadership of the U.S. Army Corps of Engineers, and it continues to advance all required federal reviews on schedule, with full transparency provided to the public via the federal permitting dashboard.

Shares of Graphite One jumped nearly 9% to a two-week high of C$1.27 on the update, with a market capitalization of C$258.1 million ($189.6 million).

Largest US graphite mine

“FAST-41 has delivered exactly what it was designed to do — improved timeliness, predictability, and accountability across multiple federal agencies without changing any environmental or regulatory standards,” said Anthony Huston, president and CEO of Graphite One.

“By establishing a coordinated, publicly posted timetable and bringing all agencies together early, FAST-41 is accelerating our ability to develop America’s largest graphite deposit.”

The Graphite Creek project is envisioned as an open-pit graphite mine located approximately 60 km north of Nome. Subject to permitting and financing, mining is slated to begin in 2030, producing as much as 175,000 tonnes in concentrate over a 20-year mine life.

Also included in the permitting process is a proposed battery anode manufacturing facility in Ohio, which will process Graphite Creek concentrates into high-value anode active material. First output from the facility is expected in mid-2027.

In support of this Alaska-to-Ohio graphite supply chain, the US Export-Import Bank (EXIM) has expressed funding interest of up to $2 billion.