Nouveau Monde Graphite Starts Construction of Matawinie Mine Project in Quebec
Nouveau Monde Graphite (NOU.TO) has started construction of the Matawinie mine project in Saint-Michel-des-Saints, Quebec, according to a report released late Tuesday.Canadian Prime Minister Mark Carney, Quebec Minister of Economy, Innovation and Energy Bernard Drainville, partners, elected officials and key community stakeholders were present at the groundbreaking ceremony.The project is in line 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.The project was designated as a major project of national interest by the Canadian government in November 2025.Construction and commissioning of the Matawinie mine project are expected to take about 31 months, with full commercial production scheduled by the end of 2028.The project has an estimated average annual production of 106,000 tonnes of graphite. Production is supported by diversified commercial agreements, including with Panasonic Energy, the Canadian government and Traxys North America, covering more than 70% of expected production.In addition, the company aims to reach a final investment decision in the second half of 2026 for its battery material plant in Becancour.According to Carney, the mine is expected to eventually pump nearly $2 billion into the economy and add 1,000 jobs."That is eight times - eight times - Canada's total graphite production right now. It will make us stronger. It will make our international partners more resilient, and above all that, it will build a supply chain," the prime minister said from the Nouveau Monde Graphite (NMG) mining site near Saint-Michel-des-Saints, Quebec, north of Montreal.