- Electrical substation contract awarded to ABB; NMG to benefit
from robust technical expertise and dedicated resources overseeing
engineering, supply, commissioning and start-up of the
substation
- Matawinie Mine to be powered by clean hydroelectricity to
enable zero-emission operations, what is projected to become the
world’s first all-electric open-pit mine
- Detailed engineering advancing through continuous work with
AtkinsRéalis and SRK
- Active engagement with local and Indigenous contractors ahead
of the start of construction to inform procurement strategy and
maximize benefits to the regional economy
- Financing completed for recreational center to be implemented
adjacent to the mine to ensure harmonious integration into the
milieu
Nouveau Monde Graphite Inc. (“NMG“ or the “Company”) (NYSE: NMG,
TSX.V: NOU) has attained tangible milestones in preparing for the
construction of the Phase-2 Matawinie Mine through key procurement
activities, detailed engineering, construction planning and
community investment. Among these is the awarding of the 120kV
electrical substation to ABB (NASDAQ: ABBNY) as part of the
construction preparation and strategy to secure long-lead items for
the establishment of an all-electric 103,000-tpa graphite mining
and concentrator complex at Matawinie, 120 kilometers north of
Montréal, Canada.
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Local and Indigenous businesses visited
the Matawinie Mine site and met with NMG and Pomerleau
representatives in preparation for construction. (Photo: Business
Wire)
Arne H Frandsen, Chair of NMG, declared: “The North American
market is eagerly awaiting the start-up of our Phase-2
ore-to-active-anode-material operations to access a local and
carbon-neutral alternative to China’s supply. With Canada having
only mined 0.2% of the global natural graphite production last year
– and the US 0% (US Geological Survey, January 2024) – Matawinie is
set to be a gamechanger in today’s reshoring effort. We are
pioneering a new era of mining here, in North America, supported by
top-tier engineering and local partnerships, setting new standards
in sustainability and community integration.”
Eric Desaulniers, Founder, President, and CEO of NMG, stated:
“We are excited to move one step closer to building the mine of the
future, powered by clean energy to responsibly extract and produce
a critical mineral for global decarbonization. Our environmental
stewardship and innovative mindset have been matched by the team at
ABB, from the commencement of our electrification journey, to
translate our vision into reality. Now, we have local and
Indigenous businesses rallying to help us build the Matawinie Mine,
what a great opportunity for shared value creation.”
Construction Readiness: Procurement, Engineering and Supply
Chain Engagement
NMG has awarded ABB the contract to supply, construct and
commission the 120kV substation for the Phase-2 Matawinie Mine. The
site will be connected to the provincial hydropower network,
enabling the access to clean energy to support mining activities
and concentrator production of carbon-neutral graphite concentrate
destined to the lithium-ion battery market. Through its
collaboration with Caterpillar Inc., NMG is set to equip the
Matawinie Mine with a zero-emission mining fleet and associated
charging infrastructure, which would make it the world's first
all-electric open-pit mine.
A recognized global leader in mine electrification, ABB will
lead construction of the substation as the primary connection point
between the mining site and Hydro-Québec’s hydropower line,
enabling full electrification of the Matawinie Mine using renewable
energy. NMG will benefit from robust technical expertise and
dedicated resources overseeing engineering, supply, commissioning
and start-up of the substation.
Moreover, detailed engineering continues to progress steadily
with AtkinsRéalis and SRK, underpinning the advancement of
long-lead items procurement packages. Also part of the integrated
project team, Pomerleau is acting as pre-construction manager to
support NMG with the construction sequence and logistics, budget
revisions, procurement strategy, as well as health, safety and
environment preparedness.
Pomerleau joined the Company’s leaders at a networking event at
the Matawinie site this week to meet local and Indigenous
businesses representatives. The event enabled NMG and Pomerleau to
document the capacity, service offerings and availability of
businesses in the region, while providing contractors with an
opportunity to visit the site, meet the project team, inquire into
safety and ESG requirements, and understand the construction
procurement strategy.
Contribution to the Community’s Vitality
Originated from NMG’s stakeholder engagement and commitment to
harmonious integration within the milieu, a four-season
recreational center is being implemented adjacent to the Matawinie
mining site. The non-for-profit organization leading the project
development, espace nature Haute-Matawinie, has secured over $4.1
million in government funding and community investments, including
a financial and in-kind contribution from NMG, to support the
construction and launch of operations.
The center will offer recreational, sporting, educational and
cultural activities accessible to the local community and visitors,
thus contributing to the region's quality of life and economic
development. It was conceived in collaboration with the community
and local tourism stakeholders to enhance the region's recreational
and tourism offering. Infrastructure will include a graphite
interpretation center; 35 kilometers of trails for mountain biking,
hiking, running, snowshoeing and fat biking; a 360° observation
tower with views of the mine site and surrounding landscape; and
service building. Initial work has already begun, with trail
marking, trail construction and preparation of the parking lot.
Set to open in fall 2025, the center is expected to attract some
20,000 visitors and hire 9 people, offering long-term benefits to
the region, beyond the life of mine. The center was part of NMG’s
sustainable development pledge to the community and reflected in
the parameters of its mining decree. Securing the financing for the
construction of the center helps demonstrate to the community, the
government, and key stakeholders, NMG’s commitment to a socially
responsible operation that generates shared value.
Grant of stock options
NMG also announces the grant of 25,000 stock options to Mr.
Stéphane Leblanc, the Company's new director, in accordance with
the terms of the Company's stock option plan. Each option entitles
the holder to purchase one common share of the Company at a price
of $1.90 per share, with an expiry date of September 20, 2029.
About Nouveau Monde Graphite
Nouveau Monde Graphite is an integrated company developing
responsible mining and advanced manufacturing operations to supply
the global economy with carbon-neutral active anode material to
power EV and renewable energy storage systems. The Company is
developing a fully integrated ore-to-battery-material source of
graphite-based active anode material in Québec, Canada. With
enviable ESG standards and structuring partnerships with anchor
customers, NMG is set to become a strategic supplier to the world’s
leading lithium-ion battery and EV manufacturers, providing
high-performing and reliable advanced materials while promoting
sustainability and supply chain traceability. www.NMG.com
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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 future benefit from ABB's technical expertise, the
projections about future operations, including reliance on
hydroelectricity and becoming the world's first all-electric
open-pit mine, the future engagement and potential economic
benefits for the region, the implementation and integration of the
four-season recreational center into the milieu, the future impact
and success of the Matawinie Mine in reshoring efforts, the
completion of the four-season recreational center adjacent to the
Matawinie mining site, the services and impacts of the four-season
recreational center, , and the intended results of the initiatives
described in this press release and those statements which are
discussed under the “About Nouveau Monde” paragraph 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 obtain sufficient financing
for the development of the Matawinie Mine and the Bécancour Battery
Material Plant, the Company’s ability to provide high-performing
and reliable advanced materials while promoting sustainability and
supply chain traceability, the consumers demand for components in
lithium-ion batteries for EVs and energy storage solutions, 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, including the
changes in China’s policy regarding restrictions on Chinese
graphite materials exportations, political and social acceptability
risk, environmental regulation risk, currency and exchange rate
risk, technological developments, 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 27, 2024, 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/20240920229346/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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