The company Nouveau Monde Graphite has the ambition to extract 100,000 tonnes of graphite per year in Haute-Matawinie and the construction of the open-pit mine project near Saint-Michel-des-Saints should be in 2025.
Éric Desaulniers, president and CEO of NMG, says that many financial partners are starting to show interest in the project.
According to Le Devoir, the government of Quebec through Investissement Québec and that of Canada through Canada Growth Fund have invested 50 million US dollars at the end of 2024.
This amount allows the company to launch into production.
Previously, another sum of 50 million US dollars had been advanced by GM and Panasonic, two graphite buyers who could source up to 25% of graphite from Quebec.
The money from governments will make it possible to order electrical parts, the delivery of which could take two years, explains Mr. Desaulniers.
Regarding the construction of the facilities and the processing plant in Bécancour, everything should begin this summer.
According to the President and CEO, at the end of 2027-beginning of 2028, the first batteries with graphite components from Nouveau Monde Graphite should appear.
