+ NMG is mapping its execution strategy for the Phase-2
Matawinie Mine and Bécancour Battery Material Plant to ensure swift
start of construction as soon as FID is reached. + NMG selects
Pomerleau for pre-construction management; focus on construction
sequence and logistics, budget revisions, procurement strategy, HSE
preparation, etc. + Pomerleau brings extensive experience in major
infrastructure construction, excellent track record in safety,
quality and environmental management, skilled and stable team with
access to pool of workers and contractors, and civil works
self-perform capabilities. + Work to refine CAPEX estimates in
light of advanced engineering, stabilizing material costs,
technological enhancements, and synergies between sites is expected
to generate cost optimization. + As one of the leading players in
the field of industrial construction, Pomerleau has a deep
understanding of the specific requirements and challenges of the
Québec and Canadian markets.
Nouveau Monde Graphite Inc. (“NMG“ or the “Company”) (NYSE: NMG,
TSX.V: NOU) furthers its execution readiness for the construction
of its Phase-2 commercial facilities, the Matawinie Mine and the
Bécancour Battery Material Plant, with the appointment of Pomerleau
as Construction Manager for the pre-construction stage. With
sustained engagement from tier-1 battery manufacturers to sign
offtake agreements and confirmed interest from lenders and
strategic investors to participate in NMG’s project financing, the
Company is accelerating efforts to refine its execution plan for
cost optimization, procurement, and construction at each site ahead
of the final investment decision (“FID”).
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20231025838880/en/
4D model of the Matawinie Mine
construction timeline produced by Pomerleau using the BIM platform,
available for viewing at https://youtu.be/rNvgCVHRzEw. (Photo:
Business Wire)
Arne H Frandsen, Chair of NMG, declared: “Our strong owner’s
team in engineering and project management now paired with
experienced construction firm Pomerleau provides depth and
technical expertise for refining our execution strategy. Amidst
challenging economic conditions, we are seeking strategies to
mitigate the expenses and uncertainties associated with complex
construction projects to execute our projects responsibly while
delivering on our commitment to our customers, community, and
shareholders.”
Eric Desaulniers, Founder, President and CEO of NMG, said: “As
battery production capacity continues to expand in Québec, North
America and Europe, our commercial engagement is shifting from
product qualification to execution and operation readiness to
optimize our time-to-market window. Potential customers have tested
our carbon-neutral active anode material produced at our Phase-1
facilities and are eager to access sizable volumes to support their
manufacturing and growth. Contemplated anchor customers, lenders,
and investors alike are seeking reassurance on our timeline and
flawless execution with safety, environment, and quality as top
priorities. We have found in Pomerleau a construction partner that
shares our values and is keen to help us bring our vision to
reality.”
Pomerleau is a prominent Canadian construction company
specialized in the building, infrastructure and civil, and
construction sectors. With a rich history spanning early six
decades, Pomerleau boasts a workforce of over 4,000 dedicated
employees and operates across more than 200 job sites across Canada
with a strong focus on safety, innovation, and sustainability.
Projects Construction Overview
Leveraging process development, continuous sample production at
Phase-1 facilities, environmental monitoring and management, and
extensive site and project studies, NMG has made steady progress
over the years toward construction and financing of its Phase-2
Matawinie Mine and Bécancour Battery Material Plant.
The Matawinie Mine has already obtained governmental approval –
the main permit for the mining operation – following an exhaustive
environmental review and public consultation. Since securing this
approval, NMG has carried out preparatory work to build the nearly
8-km access road, construct key environmental infrastructure and
execute early civil works. Detailed engineering for the industrial,
mining and environmental facilities is also well advanced thanks to
continued work with specialized firms AtkinsRéalis, SRK Consulting,
and key contractors and equipment vendors. The site is now ready
for major civil works including excavation, underground utilities,
and concrete foundations once FID is reached.
Pomerleau’s mandate covers the pre-construction management of
the industrial facilities, namely the concentrator, crusher, and
associated infrastructure. Pomerleau is working closely with NMG’s
project team to prepare a detailed construction sequence and
schedule, to develop the contracting strategy, to optimize worksite
logistics, to expand the health and safety, environment, and
quality programs, and to integrate planning and engineering into
Building Information Modeling (“BIM”), an advanced technology
solution supporting enhanced project construction management for
improved planning, tracking, project efficiency, productivity, and
cost control.
At the Bécancour Battery Material Plant, the pre-construction
mandate will build on the environmental studies completed thus far
and active engineering work with BBA Inc. Pomerleau’s mandate
includes construction scheduling, workforce planning, jobsite
logistics, revision of the procurement strategy, and the
development of health and safety, environment, and quality
programs.
Pomerleau is also contributing to the budget revision, cost
optimization, and project control activities for both projects. NMG
aims to refine CAPEX estimates in light of advanced engineering and
contemplated offtake agreements, and to reduce its exposure to
market volatility and supply chain pressures. Considering that
NMG’s integrated feasibility study for its Phase-2 operations was
issued in July 2022 at the peak of inflation trends, the Company
anticipates optimization of construction forecasts in light of
stabilizing material costs, technological enhancement to align with
customers’ specifications, synergies between the two sites
proactive procurement strategy plus Pomerleau’s current
construction mandates in the Bécancour industrial work.
Having retained Pomerleau for both projects provides saving
opportunities and a harmonized project execution across sites
thanks to core team, programs, and approach, enhancing the
integration of engineering, procurement and construction
management. NMG will also benefit from Pomerleau’s established pool
of workers and specialty subcontractors in preparation for the
execution stage.
NMG’s robust environmental, social, and governance (“ESG”)
values, aligned with Pomerleau’s own, will be carried over in the
construction phase and will be reflected in the procurement
strategy. NMG is committed to upholding the highest standards of
business ethics and human rights, to promoting best practices in
occupational health and safety and environmental protection, to
using proactive and innovative design, technology, and management
to minimize the impact of its activities, and to working in
collaboration with communities and First Nations to maximize local
benefits.
About Nouveau Monde Graphite
Nouveau Monde Graphite is striving to become a key contributor
to the sustainable energy revolution. The Company is working
towards developing a fully integrated source of carbon-neutral
battery anode material in Québec, Canada, for the growing
lithium-ion and fuel cell markets. With enviable ESG standards, NMG
aspires to become a strategic supplier to the world’s leading
battery and automobile manufacturers, providing high-performing and
reliable advanced materials while promoting sustainability and
supply chain traceability. www.NMG.com
About Pomerleau
Pomerleau is one of Canada’s largest construction companies,
with over $4,4 billion in revenues in 2022. It delivers buildings,
infrastructures, civil engineering works, and major projects using
alternative models. With its research and development lab,
Pomerleau integrates innovation in more than 70% of its projects
and works in a sustainable way to build the living environments of
tomorrow. Its subsidiary Borea executes 50% of the country’s
renewable construction projects, and ITC Construction Group,
acquired in 2022, is one of the largest residential construction
companies in the West. It also owns Pomerleau Capital, a subsidiary
specializing in private infrastructure investment and financing.
Founded 60 years ago, Pomerleau has over 4,000 employees and
workers at over 200 sites from coast to coast. The Company has been
named among Canada’s Top 100 Employers since 2020.
www.pomerleau.ca
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Cautionary Note
All statements, other than statements of historical fact,
contained in this press release including, but not limited to those
describing the initiatives described in this press release, the
execution strategy and readiness for the construction of its
Phase-2 commercial facilities, the Matawinie Mine and the Bécancour
Battery Material Plant, the steady progress over the years toward
construction and financing of the Phase-2 Matawinie Mine and
Bécancour Battery Material Plant, the selection of Pomerleau for
pre-construction management, Pomerleau’s experience and technical
expertise, Pomerleau’s mandate, Pomerleau’s work so far,
Pomerleau’s collaboration with the project team, the BIM, the focus
on construction sequence and logistics, budget revisions,
procurement strategy, HSE preparation, the work to refine CAPEX
estimates in order to generate cost optimization, the strategies to
mitigate the expenses and uncertainties associated with complex
construction projects, the interest from lenders and strategic
investors to participate in the Company’s project financing, the
efforts to refine the execution plan for cost optimization,
procurement, and construction at each site ahead of the final
investment decision, the commercial engagement shifting from
product qualification to execution and operation readiness to
optimize the time-to-market window, the desire of the potential
customers to access significant volumes to support their
manufacturing and growth, the governmental approval for the mining
operation, the preparatory work to build the access road, to
construct key environmental infrastructure and to prepare the
industrial platform, the progress of the detailed engineering for
the industrial, mining and environmental facilities, the
pre-construction at the Bécancour Battery Material Plant mandate
building on the environmental studies completed thus far and active
engineering work with BBA Inc., the anticipation to optimize the
construction forecasts in light of stabilizing material costs,
technological enhancement to align with customers specifications,
synergies between the two sites proactive procurement strategy plus
Pomerleau’s current construction mandates in the Bécancour
industrial work, the saving opportunities and the harmonization of
the project execution across sites, the benefits from Pomerleau’s
established pool of workers and contractors, the commitment to
upholding the highest standards of business ethics and human
rights, to promoting best practices in occupational health and
safety and environmental protection, to using proactive and
innovative design, technology, and management to minimize the
impact of its activities, and to working in collaboration with
communities and First Nations to maximize local benefits, and those
statements which are discussed under the “About Nouveau Monde
Graphite” and “About Pomerleau” paragraphs, in the quotes from Arne
H Frandsen, Chair of NMG, and from Eric Desaulniers, Founder,
President and CEO of NMG, and elsewhere in the press release which
essentially describe the Company’s outlook and objectives,
constitute “forward-looking information” or “forward-looking
statements” (collectively, “forward-looking statements”) within the
meaning of Canadian and United States securities laws, and are
based on expectations, estimates and projections as of the time of
this press release. Forward-looking statements are necessarily
based upon a number of estimates and assumptions that, while
considered reasonable by the Company as of the time of such
statements, are inherently subject to significant business,
economic and competitive uncertainties and contingencies. These
estimates and assumptions may prove to be incorrect. Moreover,
these forward-looking statements were based upon various underlying
factors and assumptions, including the current technological
trends, the business relationship between the Company and its
stakeholders, the ability to operate in a safe and effective
manner, the timely delivery and installation at estimated prices of
the equipment supporting the production, assumed sale prices for
graphite concentrate, the accuracy of any Mineral Resource
estimates, future currency exchange rates and interest rates,
political and regulatory stability, prices of commodity and
production costs, the receipt of governmental, regulatory and third
party approvals, licenses and permits on favorable terms, sustained
labor stability, stability in financial and capital markets,
availability of equipment and critical supplies, spare parts and
consumables, the various tax assumptions, CAPEX and OPEX estimates,
all economic and operational projections relating to the project,
local infrastructures, the Company’s business prospects and
opportunities and estimates of the operational performance of the
equipment, and are not guarantees of future performance.
Forward-looking statements are subject to known or unknown risks
and uncertainties that may cause actual results to differ
materially from those anticipated or implied in the forward-looking
statements. Risk factors that could cause actual results or events
to differ materially from current expectations include, among
others, those risks, delays in the scheduled delivery times of the
equipment, the ability of the Company to successfully implement its
strategic initiatives and whether such strategic initiatives will
yield the expected benefits, the availability of financing or
financing on favorable terms for the Company, the dependence on
commodity prices, the impact of inflation on costs, the risks of
obtaining the necessary permits, the operating performance of the
Company’s assets and businesses, competitive factors in the
graphite mining and production industry, changes in laws and
regulations affecting the Company’s businesses, political and
social acceptability risk, environmental regulation risk, currency
and exchange rate risk, technological developments, the impacts of
the global COVID-19 pandemic and the governments’ responses
thereto, and general economic conditions, as well as earnings,
capital expenditure, cash flow and capital structure risks and
general business risks. A further description of risks and
uncertainties can be found in NMG’s Annual Information Form dated
March 23, 2023, including in the section thereof captioned “Risk
Factors”, which is available on SEDAR+ at www.sedarplus.ca and on
EDGAR at www.sec.gov. Unpredictable or unknown factors not
discussed in this Cautionary Note could also have material adverse
effects on forward-looking statements.
Many of these uncertainties and contingencies can directly or
indirectly affect, and could cause, actual results to differ
materially from those expressed or implied in any forward-looking
statements. There can be no assurance that forward-looking
statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. Forward-looking statements are provided for the purpose
of providing information about management’s expectations and plans
relating to the future. The Company disclaims any intention or
obligation to update or revise any forward-looking statements or to
explain any material difference between subsequent actual events
and such forward-looking statements, except to the extent required
by applicable law.
The market and industry data contained in this press release is
based upon information from independent industry publications,
market research, analyst reports and surveys and other publicly
available sources. Although the Company believes these sources to
be generally reliable, market and industry data is subject to
interpretation and cannot be verified with complete certainty due
to limits on the availability and reliability of raw data, the
voluntary nature of the data-gathering process and other
limitations and uncertainties inherent in any survey. The Company
has not independently verified any of the data from third-party
sources referred to in this press release and accordingly, the
accuracy and completeness of such data is not guaranteed.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Further information regarding the Company is available in the
SEDAR+ database (www.sedarplus.ca), and for United States readers
on EDGAR (www.sec.gov), and on the Company’s website at:
www.NMG.com
View source
version on businesswire.com: https://www.businesswire.com/news/home/20231025838880/en/
MEDIA Julie Paquet VP Communications & ESG Strategy
+1-450-757-8905 #140 jpaquet@nmg.com
INVESTORS Marc Jasmin Director, Investor Relations
+1-450-757-8905 #993 mjasmin@nmg.com
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