First Nations to Explore Equity Stake in Kearney Graphite Project

The Letter of Agreement marks a shift in the project's development strategy following a positive Preliminary Economic Assessment, which projected a 67% internal rate of return for the site. By forming the GMM Limited Partnership, the Dokis, Henvey Inlet, Magnetawan, Shawanaga, and Wasauksing First Nations have established a collective vehicle to negotiate energy partnerships and land management roles alongside the company.

Wasauksing Chief Shane Tabobondung described the deal as a necessary step for ensuring that resource development within traditional territories remains under Indigenous influence. For Global Battery Materials, the move aligns with its broader goal of securing a North American supply chain for critical minerals, as the company transitions from the assessment phase toward a Definitive Feasibility Study. Executives at the firm noted that meaningful Indigenous participation is intended to serve as a cornerstone for the project's long-term environmental and operational framework.