2023-08-11 08:07:03 ET
- Nouveau Monde Graphite Inc ( NYSE: NMG ) reports advancement on the development of its fully integrated value chain, from ore to battery materials, set to become one of North America's largest sources of natural graphite.
- NMG is working to secure long-term sales agreements for its active anode material and set up financial and operational conditions for the successful execution of its commercial plans comprising the Phase-2 Matawinie Mine and Bécancour Battery Material Plant.
- Says definitive agreements signed with Caterpillar to collaborate on technology development, testing, and procurement of all-electric fleet and infrastructure for the Phase-2 Matawinie Mine, plus opportunities for NMG to supply carbon-neutral graphite materials to Caterpillar for its sustainable battery supply chain.
- Advanced discussions with multiple governmental agencies and programs to optimize and lower the cost of the targeted capital structure for the project financing.
- Reports underwritten public financing of $22 million in support of the advancement of the Matawinie Mine and Bécancour Battery Material Plant towards the final investment decision and project financing.
- Source: Press Release
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NMG provides quarterly operational update