Laboratory studies of electrochemical reduction of refractory metal oxides, e.g. TiO 2 and Ta 2 O 5 , in molten CaCl 2 often involve a graphite anode and a cell voltage of 3.0 V or higher, which deviates significantly from thermodynamic predictions. The causes considered in the past have included mechanistic, kinetic and dynamic complications of cathode reactions, but little was considered on anodic processes. This paper shows that oxidation of the O 2− ion on the graphite anode is also a significant contributor to the high cell voltages applied. Cyclic voltammetry in molten CaCl 2 containing added CaO (up to 2.51 mol%) suggested that O 2− oxidation on graphite proceeds dominantly in two steps as previously observed on glassy carbon. With increasing CaO concentration, the second step became rate-limiting over a wide range of potentials before the processes reached at diffusion controlled high current density. This understanding led to the proposal and experimental confirmation of a "low anode current density strategy" in potentiostatic reduction of thin cylindrical pellets of TiO 2 and Ta 2 O 5 in molten CaCl 2 at 850°C. It was observed that a 10-fold increase of the graphite anode area could decrease the cell voltage by about 1.0 V, which should save energy consumption by up to one third.