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Highlights
- Graphite One is advancing a fully U.S.-based graphite materials supply chain spanning Alaska and Ohio.
- The company secured a US$5.0 million strategic investment from Alaska Native corporations Doyon Limited and Aleut.
- The U.S. Geological Survey has identified Graphite Creek as the largest known natural graphite deposit in the United States.
- Independent testing confirmed the presence of magnet and heavy rare earth elements within garnet-bearing material at Graphite Creek.
- Graphite One received amended, non-binding EXIM Letters of Interest totaling up to US$2.07 billion for project development and manufacturing facilities.
- GPH share price has increased by more than 192% over the past year.
Graphite One Inc. (TSX-V:GPH) (OTCQX:GPHOF) is advancing plans to establish a fully U.S.-based supply chain for advanced graphite materials, anchored by its Graphite Creek Project in Alaska and a proposed downstream manufacturing facility in Ohio. The company’s strategy centers on sourcing natural graphite domestically and processing it into lithium-ion battery anode materials and other graphite products for U.S. markets.
Recent updates from Graphite One span strategic investments, permitting and environmental initiatives, independent technical testing, and ongoing discussions related to large-scale project financing.
Strategic Investment From Alaska Native Corporations
In October last year, Graphite One announced the closing of a strategic investment totaling US$5.0 million (CDN$7.0 million) from Doyon Limited and Aleut, both Alaska Native corporations. The financing was completed through a non-brokered private placement of 8,514,024 units priced at CDN$0.82 per unit, subject to final approval from the TSX Venture Exchange.
The proceeds are intended to support environmental studies and other permitting-related activities at the Graphite Creek property, as well as for general corporate purposes.
Partnerships Emphasize Long-Term Engagement in Alaska: Commenting on the transaction, Doyon President and CEO Aaron Schutt described the transaction as a long-term commitment to Alaska, citing Doyon’s experience in responsible resource development. Aleut President and CEO Skoey Vergen stated that the investment aligns with Aleut’s views on renewable energy and responsible development, while also pointing to potential future opportunities in Alaska.
Graphite One President and CEO Anthony Huston noted that it is the first critical minerals project to receive direct investment from three Alaska Native Regional Corporations, following a prior strategic investment by Bering Straits Native Corporation in 2023.
Graphite Creek and the Domestic Supply Chain Strategy
Graphite One’s project is planned as an integrated operation designed to produce lithium-ion battery anode materials and other graphite products for the U.S. market. The strategy combines a proposed natural flake graphite mine at Graphite Creek, located north of Nome, Alaska, with an advanced graphite materials manufacturing facility planned for Warren, Ohio, subject to financing.
The U.S. Geological Survey has identified Graphite Creek as the largest known natural graphite deposit in the United States. A feasibility study completed in February 2025 reported a significant increase in the size of the resource, with the anticipated pit representing approximately 12% of the 15.3km mineralized zone and an expected 20-year mine life.
Rare Earth Elements Identified Through Independent Testing
In November and December 2025, Graphite One announced results from independent testing conducted by Activation Laboratories Ltd., confirming the presence of rare earth elements within garnet-bearing material at Graphite Creek. The analyses identified elevated concentrations of magnet and heavy rare earth elements, including dysprosium, yttrium, and scandium.
The company reported that approximately 85% of the rare earth elements contained in the garnet material are magnet or heavy rare earths. Drill core samples used in the testing were sourced from the anticipated pit area outlined in the feasibility study. Graphite One plans to work with a U.S. National Laboratory in 2026 to develop a testing program focused on potential rare earth recovery methods.
Financing Discussions and EXIM Letters of Interest
On December 18, 2025, Graphite One disclosed that it received amended, non-binding Letters of Interest from the Export-Import Bank of the United States. The combined potential financing totals up to US$2.07 billion and would support development of the Graphite Creek mine and construction of the proposed Ohio manufacturing facility under EXIM’s Make More in America and China and Transformational Exports Program initiatives.
Graphite One expects to submit formal applications to EXIM in 2026. Any final commitments remain subject to EXIM’s due diligence, eligibility, and approval requirements.
With a large-scale domestic graphite resource, growing strategic support from Alaska Native corporations, and early-stage engagement with U.S. federal financing programs, Graphite One is positioning itself as a potential cornerstone supplier in the emerging U.S. battery materials supply chain. While the project remains subject to permitting, financing, and execution risks, recent technical validation, stakeholder alignment, and government-level interest underscore the company’s progress as it advances toward development of a fully integrated U.S.-based graphite operation.
Shares of GPH last traded at CAD 2.31 on January 20, 2026. Over the past year, the share price has increased by more than 192%.
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