SAINT-MICHEL-DES-SAINTS, Quebec, May 20 — Nouveau Monde Graphite Inc. (“NMG” or the “Company”) (NYSE: NMG, TSX: NOU) held today a groundbreaking ceremony marking the official start of construction of the Matawinie mine project in Saint-Michel-des-Saints, Quebec, in the presence of the Right Honourable Mark Carney, Prime Minister of Canada, Bernard Drainville, Quebec Minister of Economy, Innovation and Energy and Minister responsible for the Maritime Strategy, as well as partners, elected officials, and key community stakeholders.
This important milestone reflects several years of planning and investment in local communities and demonstrates the Company’s commitment to sustainable development through the responsible valorization of graphite, a critical and strategic mineral at the heart of the energy transition.
The presence on site of the Right Honourable Mark Carney, Prime Minister of Canada, Bernard Drainville, Quebec Minister of Economy, Innovation and Energy, Sipi Flamand, Chief of the Atikamekw Council of Manawan, and Mario Venne, Mayor of Saint-Michel-des-Saints, underscores the strategic importance of the project. The project aligns with the priorities of both Canada and Quebec to establish one of the largest integrated natural graphite production platforms in the G7 and to secure critical mineral supply chains, while generating meaningful benefits for local communities and regions.
It should also be noted that the project was designated in November of last year as a major project of national interest by the Government of Canada, highlighting the strategic value of the Company’s business plan to build one of the largest integrated natural graphite production platforms in the G7.
Eric Desaulniers, Founder, President and CEO of NMG, stated: “This groundbreaking marks far more than the start of construction, it represents the culmination of years of dedication and perseverance by our employees who have firmly believed in our vision from the very beginning. I would like to sincerely thank them for their exceptional efforts and contributions. I also wish to acknowledge the invaluable support and commitment of all levels of government, the Atikamekw Nation of Manawan, the Municipality of Saint-Michel-des-Saints, as well as our other partners and clients.“
Sipi Flamand, Chief of the Atikamekw First Nation of Manawan, commented: “The start of construction of the Matawinie graphite mine represents a concrete step toward true economic reconciliation. It is the result of a relationship between the company and the community based on respect, trust, and a shared vision for the development of our territory. It will create quality jobs for our members and enable sustainable business opportunities for our enterprises. By supporting this project, our community is also proudly contributing to the growth of a global green economy. This is a project that will bring prosperity for generations to come.”
Mario Venne, Mayor of Saint-Michel-des-Saints, added: “We are pleased to see all the work accomplished to bring this project to life, which will deliver positive benefits for our community and for the future of our youth in terms of jobs, attractiveness, and economic vitality. Thanks to the active participation of our citizens in the consultation process, this initiative respects our region and environment. Today, we are reaching an important milestone with the start of its implementation, which will contribute to greater stability for our infrastructure.”
Construction and commissioning of the Matawinie mine project are expected to take approximately 31 months, leading to full commercial production by the end of 2028, with an estimated average annual production of 106,000 tonnes of graphite which positions the project at the heart of the critical minerals supply chain. Production is supported by diversified commercial agreements, notably with Panasonic Energy, the Government of Canada, and Traxys North America, covering more than 70% of expected production.
In parallel, and in support of its vertically integrated business model, the Company aims to reach a final investment decision (FID) in the second half of 2026 for its battery material plant in Bécancour, with a planned capacity of 13,000 tonnes per year dedicated to the Panasonic Energy offtake.
Beyond its industrial impact, the integrated project is expected to generate significant economic benefits, including the creation of several hundred jobs during construction and the maintenance of more than 300 high-quality jobs once operations are fully underway.