Titan Mining Reaches Commercial Term Sheet on Anniston Army Depot Graphite Deal
If the Anniston lease closes and the feasibility study confirms Kilbourne's economics, Titan becomes the reference case for the SCI model — Army base infrastructure as a permitting and cost workaround for domestic critical mineral processing.
The other SCI awardees at Tooele (REalloys and Ioneer) and Red River (EnergyX) are watching: a signed Anniston lease accelerates their own conditional awards toward definitive agreements.
The risk is that Kilbourne's 13-year mine life is short relative to a 50-year lease, which means the depot's graphite processing utility depends on Titan or a successor finding additional resource or the Army repurposing the facility mid-term.
Titan's Anniston arrangement is the furthest-progressed of the Army SCI awards, and the term sheet stage means the depot's existing infrastructure could be committed to graphite midstream processing before the feasibility study for Kilbourne's integrated operation is released in the first half of 2027.
At nameplate capacity, Kilbourne would produce roughly 40,000 tonnes of graphite concentrate annually over a 13-year mine life — enough to matter for battery anode supply but not enough to displace China's dominant position in refined graphite without additional capacity.
The outstanding definitive lease is the near-term gate: until it is signed, Titan's downstream processing plan rests on a term sheet, not a binding commitment.
Has the Army committed any capital or infrastructure upgrades at Anniston under the SCI program, or is Titan expected to fund all processing buildout within the depot's existing footprint?
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