Titan Mining starts graphite production at New York plant
me-metals: Titan Mining (TSX: TI, NYSE-A: TII) says it has commenced graphite concentrate production at its Kilbourne demonstration facility in New York state, marking the first US production of the material in decades.
According to me-metals cited by mining.com, The pilot plant is located at the company’s Empire State Mine infrastructure in St. Lawrence County, where it is currently producing zinc. The facility is fully permitted and has a capacity of 1,200-tonnes per year.
In a press release on Monday, Titan said it has successfully produced natural flake graphite concentrate at the site, and is now transitioning to the production of material for customer and government qualification programs.
This milestone marks the first step in re-establishing a domestic natural graphite supply chain for the first time in more than seven decades, the Canadian-based company said.
Titan added that it is targeting 40,000 tonnes per year in capacity, potentially meeting about 50% of US graphite demand once fully scaled.
Meanwhile, the company is also advancing discussions with the US Export-Import Bank with respect to the previously announced letter of interest for the $120 million loan facility. This, it said, would provide long-term, non-dilutive capital funding for the majority of the Kilbourne project’s development.
This production coincides with the issuance of a new executive order by the White House directing the application of Section 232 authorities to processed critical minerals and their derivative products, including natural graphite, in response to persistent US import dependence and downstream supply-chain vulnerabilities.
“With Kilbourne now producing, Titan is aligned with the federal government’s clear policy direction: rebuilding secure, end-to-end US supply chains for critical minerals,” Titan CEO Rita Adiani said in the news release.
“The combination of first domestic production and decisive trade and industrial policy action materially de-risks the path to commercial scale,” she added.
By market close, Titan’s stock was up 6.3% in Toronto, with a C$613.6 million ($447.3 million) market capitalization.
source: mining.com
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