Nouveau Monde Graphite obtains mining lease for Matawinie graphite project in Quebec
Nouveau Monde Graphite Inc. was granted mining lease No. 1057 by Quebec’s Ministry of Natural Resources and Forests, allowing it to develop the Matawinie graphite mine. Founder, President and CEO Eric Desaulniers said the approval reflects years of dialogue with the Atikamekw community of Manawan and local authorities. The mine, located about 120 km north of Montreal, is slated to become the largest graphite operation in the G7, with a planned annual output of up to 106,000 tonnes. Shares rose 1.92% to $1.33 (US$0.95) following the announcement.
Why it matters
The lease removes a key regulatory hurdle, enabling NMG to advance construction and move toward production, which could improve the company’s supply‑chain position and revenue potential. The share price reaction suggests investors view the milestone positively.
Key facts
- 1Mining lease No. 1057 was issued by Quebec’s Ministry of Natural Resources and Forests. simcoereformer.ca
- 2The lease gives NMG the right to mine the graphite deposit at the Matawinie site. simcoereformer.ca
- 3The Matawinie mine is located approximately 120 km north of Montreal. mining.com
- 4The project is expected to produce up to 106,000 tonnes of graphite annually. mining.com
- 5Shares in NMG rose 1.92% to $1.33 (US$0.95) after the announcement. mining.com
- 6Eric Desaulniers is the founder, president and chief executive officer of NMG. simcoereformer.ca
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.