Titan Mining (TII) subsidiary Empire State Mines received conditional selection notices from the US Army to build and operate graphite purification facilities at defense installations at the Pine Bluff Arsenal in Arkansas and the Anniston Army Depot in Alabama.
Under the awards, Empire State Mines will design, finance, construct and operate the Kilbourne Graphite Purification Plant, which will be located at Pine Bluff Arsenal, the primary site identified in the Army's Enhanced Use Lease program, Titan Mining said Thursday in a statement.
Anniston Army Depot, designated as the secondary site, will host additional graphite-purification capacity under the same program, forming part of the broader effort to establish domestic processing infrastructure on US defense installations.
The facilities will produce purified micronized graphite and coated spherical purified graphite for defense, energy-storage and industrial applications. Construction is targeted to begin in H2 2027, pending final business agreements with the Army, Titan Mining said.
REalloys (ALOY), ioneer and Energy Exploration Technologies have also reached agreements with the Pentagon to build critical-minerals processing plants, Bloomberg reported Thursday, citing people familiar with the matter.
Titan Mining shares rose 16% in after-hours trading, and REalloys gained 2.1%.