Nouveau Monde Graphite (NYSE:NMG) has secured a comprehensive financing package of around US$645 million ($897 million) to advance its Phase-2 Matawinie Mine, combining debt, private placements, and a public offering.
This funding enables the start of construction and positions Nouveau Monde Graphite as a key supplier of responsible, local graphite for the clean energy transition.
Following the financing announcements, Founder, President, and CEO Eric Desaulniers says the company is ‘focused on execution’.
“With financing in place for the Matawinie Mine, we have kick-started construction for what is projected to be the first and largest ore-to-advanced-graphite materials production of the G7,” Desaulniers says.
“This disciplined progress is essential to delivering a responsible, local supply of natural graphite to our customers at a time when supply chain security is becoming increasingly critical.
“Against a backdrop of evolving market dynamics and trade conditions, the relevance of our value proposition is only strengthening — combining jurisdictional advantage, sustainability, and supply chain resilience.”
Financing secures Québec’s graphite future
The financing includes a US$335 million debt package with Export Development Canada (EDC) and the Canadian Infrastructure Bank (CIB). It also includes a US$213 million private placement with the Canada Growth Fund (CGF), the Government of Québec (through Investissement Québec), and ENI S.p.A.
Nouveau Monde Graphite is moving toward a Final Investment Decision (FID) once the private placements close and all conditions for the bought-deal public offering are satisfied.
The company initiated construction and civil works in early Q2 2026, with contractors mobilised and over 50% of the project’s capital expenditures secured under contracts.
Nouveau Monde Graphite is targeting a fully integrated graphite platform and is advancing a retrofit plan for its recently acquired brownfield property to develop the 13-kilotonne-per-annum Bécancour Battery Material Plant.
The development of the Phase-2 Matawinie Mine and Bécancour Battery Material Plant directly addresses surging demand for graphite. That demand is fuelled by rising electric vehicle (EV) adoption and growing energy storage needs.
Nouveau Monde’s US$645 million financing marks a pivotal milestone in establishing a fully integrated, ESG-compliant graphite supply chain in Québec.
With construction underway at the Phase-2 Matawinie Mine and plans advancing for the Bécancour Battery Material Plant, the project is progressing toward scale.
Aligning with the push by Western governments for secure, domestic, and ESG-compliant supply chains, Nouveau Monde Graphite is positioned as a critical supplier in a market increasingly shaped by energy security, geopolitical tensions, and policy-driven investment in critical minerals.
Write to Amy Rotman at Mining.com.au
Images: Nouveau Monde Graphite
