Titan Mining said on Wednesday its subsidiary signed a preliminary agreement with the U.S. Department of the Army outlining commercial terms for a proposed graphite processing facility in Alabama.
The agreement comes as the United States moves to expand domestic processing capacity for critical minerals used in defense, battery and industrial applications.
Here are more details:
The proposed facility would be developed on about 97 acres of underutilized Army property at Anniston Army Depot in the state.
Under the term sheet, Titan’s unit Empire State Mines would develop, finance, build, own and operate the graphite processing facility.
The Canadian company said the facility would produce Purified Micronized Graphite — used in industrial, defence and battery applications — and later Coated Spherical Purified Graphite, a key material in lithium-ion battery anodes.
The proposed lease framework includes an initial 50-year term with two 25-year renewal options, providing potential operating tenure of up to 100 years.
The Army would have a right of first offer on certain uncommitted PMG and CSPG output, capped at 10 per cent of annual facility production.
(Reporting by Varun Sahay in Bengaluru; Editing by Vijay Kishore)
