Investments

Graphite One

Development and Protection for the RegionGraphite One

In August 2023, the Board of Directors unanimously approved a motion supporting development of the Graphite Creek project by Graphite One Inc. The Board also approved a $2 million investment in Graphite One, which Graphite One has announced it will use to continue pre-development work and a feasibility study on the Graphite Creek project. BSNC’s investment agreement also grants BSNC the option to invest up to an additional $8 million in Graphite One in the future.

The Graphite Creek deposit is a high-grade flake graphite deposit located approximately 35 miles north of Nome. Graphite is a primary element in batteries used in electric vehicles and by utilities for energy storage. There are presently no active graphite mines in the U.S. and, according to the U.S. Geological Survey, the Graphite Creek deposit is the largest known graphite resource in the country.

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FAQs

What is the Graphite Creek Project?

Graphite Creek, located approximately 37 miles north-northwest of Nome, is the largest known graphite deposit in the nation and positions our region to be a fundamental player in our country’s transition to a cleaner energy future. The high-grade flake graphite found at Graphite Creek is in high demand for use in batteries for electric vehicles and utility-scale energy storage.

Why did BSNC decide to invest in Graphite One?

BSNC’s monetary investment in Graphite One is an investment in the future of the region. Because no BSNC or village corporation lands are within the project boundaries, leadership was determined to find a means to ensure the project benefits the communities nearest the project as well as all of Our People. After many discussions and careful review, BSNC believes Graphite One shares our values land stewardship and developing economic opportunities in concert with local communities. BSNC seeks out local and in-state investment opportunities that can benefit our shareholders not only through improving the corporation’s financial standing, but also through shareholder employment opportunities and other local benefits. Graphite One fits all those criteria.

Why take these actions now?

BSNC’s decision to make this investment comes after Graphite One was awarded a $37.5 million grant from the Department of Defense (DOD) in July 2023. The DOD grant will help Graphite One complete a feasibility study of the project, which is a major milestone, and BSNC’s investment will support additional work.

Is there an Advisory Board?

Yes. The BSNC-Graphite One Advisory Board will provide a direct line of communication from local stakeholders to project leaders. It will be the primary way for stakeholders to offer any suggestions or share concerns or other input they have regarding the project.

Is the Graphite Creek deposit located on BSNC lands?

No. The Graphite Creek deposit is located on state land in the BSNC region.

Will the project impact fish and other subsistence resources?

Graphite One has gathered years of environmental data from the proposed mine site and the surrounding area and will continue to do so to ensure the project operates in concert with the natural environment. Development at Graphite Creek would be held to some of the highest standards in the world, while protecting the environment.

Every investment involves risk. What if Graphite One fails to complete the project?

BSNC made a $2 million investment in Graphite One, with an option to invest up to another $8 million at a later time. While $2 million is certainly a large figure, the investment accounts for a very small portion of BSNC’s overall portfolio. We are confident in Graphite One’s ability to execute the project after years of observing their diligent work in the region to advance the project to date.

Will there be opportunities for BSNC shareholders and descendants to work at the Graphite Creek project?

Yes. Graphite One currently seeks to employ residents from communities near the project and BSNC will work collaboratively with Graphite One to ensure additional shareholder-hire opportunities are available as the project progresses. Graphite One directly employed 18 local people, including 15 BSNC shareholders/descendants during the 2023 exploration season.

Will there be community benefits?

Yes. Graphite One will work with tribal and village corporation leadership to support communities with community donations of:

Brevig Mission:

  • $50,000 in 2023
  • $50,000 in 2024

Teller:

  • $50,000 in 2023
  • $50,000 in 2024

Nome: $30,000 to the HomePlate housing project in 2023.

Will there be opportunities for young people interested in mining?

Yes. Graphite One will participate in the BSNC intern program to develop BSNC shareholders and descendants for positions at the mine.

Graphite One will provide annual scholarships to support careers in mining related fields:

  • $25,000 in scholarships in 2024-2026
  • $40,000 in scholarships in 2027-2029
  • $75,000 in scholarships during operation
Will Graphite One utilize BSNC and its subsidiaries?

Yes. To an extent, Graphite One will grant preference to BSNC businesses for service contracts or purchasing materials.

For more information about Graphite One, Inc., please visit graphiteoneinc.com

If you have any questions for BSNC, please email media@beringstraits.com

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OFFICESWhere to find us?
Bering Straits Native Corporation is headquartered in Nome, has a business office in Anchorage and site locations and offices across the U.S.
OUR LOCATIONS
ANCHORAGE
3301 C Street, Suite 100, Anchorage, AK 99503
NOME
PO Box 1008. 110 Front Street, Suite 300, Nome, Alaska 99762
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OFFICESBering Straits Native Corporation
OFFICESWhere to find us?
BSNC is headquartered in Nome, has a business office in Anchorage and site locations and offices across the U.S.
OUR LOCATIONSWhere to find us?
ANCHORAGE
3301 C Street, Suite 100, Anchorage, AK 99503
NOME
PO Box 1008. 110 Front Street, Suite 300, Nome, Alaska 99762
GET IN TOUCHStay Connected
Follow BSNC for news, updates, stories, and opportunities to share in this journey.
Sign up for our newsletter

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