- Nouveau Monde Graphite (NOU) has begun construction work for its flagship Matawinie graphite mining project
- Nouveau Monde has developed an environmental surveillance and monitoring program to oversee the construction and operation of the Matawinie project
- The company is engaging with Atikamekw, local and regional contractors and service providers
- Nouveau Monde is continuing to seek a complete financing package to construct the Matawinie Mine project
- Nouveau Monde Graphite Inc. (NOU) opened trading at C$9.06 per share
Nouveau Monde Graphite (NOU) has begun construction work for its flagship Matawinie graphite mining project.
Over the past months, the company has steadily advanced detailed engineering and engaged in the procurement of key service providers, long-lead equipment, and contractors to deliver the project by the end of 2023.
After receiving governmental authorization of the project, Nouveau Monde executed its phased program to initiate preliminary works in March.
For the site preparation of the mine industrial platform and the access road connecting the project to the local highway, tree clearing was completed. Wood harvested as part of the preliminary works is being transformed by regional sawmills and wood product manufacturers to optimize carbon sequestration and local economic benefits.
Arne H Frandsen, Chairman of Nouveau Monde remarked on the initial construction.
“The construction of our mine is now underway, and our team is single-mindedly focused on successfully delivering this important project, on time and on budget – always being mindful of the highest levels of environmental and social standards.”
Eric Desaulniers, President and CEO of Nouveau Monde added,
“This first milestone kick starts the construction of the Matawinie mine, as we strive to build the high-quality, ethical, and sustainable project that can cater to the growing EV and energy storage markets. We have spent the past months refining our execution plan to carry out engineering, procurement, and construction activities safely and with a focus on cost and timeline efficiency. I am confident in the expertise of the technical team that we have assembled, coupled with the support of tier-1 service providers such as Metso Outotec, L. Fournier & Fils and many local contractors, to deliver on our commitments of safety, responsible practices, and excellence.”
To protect the environment and the community’s well-being, Nouveau Monde has developed an environmental surveillance and monitoring program to oversee the construction, operation and closure activities of the Matawinie project. Nouveau Monde has hired an environmental coordinator to support construction and environmental monitoring activities on-site and enlisted third-party biologists to conduct inspections for the presence of vulnerable species.
Nouveau Monde is also delivering on its commitment to maximize local opportunities and support service providers by engaging with Atikamekw, local and regional contractors and service providers via dedicated activities related to its construction procurement strategy, the associated business opportunities, as well as health, environment and safety requirements for bidding.
Detailed engineering is progressing, enabling the company to move forward with its procurement efforts for construction contracts and ore processing equipment.
Nouveau Monde has retained specialized mining contractor L. Fournier & Fils to build the access road connecting the main Highway 131 to Matawinie’s industrial platform. Work on the 7.8-km access road began in July. Construction of the access road is scheduled to be completed in September 2021.
The company has signed an agreement with Metso Outotec to supply key mineral processing equipment required for the Matawinie concentrator plant.
A portion of the proceeds from the company’s recent public financing will be applied towards detailed engineering for the Matawinie Mine, construction of the access road and procurement of long-lead items. Nouveau Monde is continuing to seek a complete financing package to construct the Matawinie Mine project.
Targeting commercial operations by 2023, Nouveau Monde is developing advanced carbon-neutral graphite-based material solutions for the growing lithium-ion and fuel cell markets.
Nouveau Monde Graphite Inc. (NOU) opened trading at C$9.06 per share.
