Ecuador court gives green light for Silvercorp, Salazar’s El Domo project
The ruling removes the last major obstacle for the $250 million project, located 150 km northeast of Guayaquil.
Nouveau Monde Graphite (TSXV: NOU; NYSE: NMG) reached what it calls milestones in its phase 2 construction at the wholly owned Matawinie graphite mine — the company’s flagship project 120 km north of Montreal.
The mine and concentrator will produce about 103,000 tonnes per year of graphite concentrate. The project is expected to generate 97% pure flake graphite for at least 25 years. The battery material plant is being built at Bécancour, Quebec. Earlier this year, the company inked offtake agreements with General Motors and Panasonic Holdings for the output.
The second phase of construction includes a contract for the electrical substation, engagement with contracts and contribution to the community’s economic vitality. ABB will engineer, build and commission the 120-kV substation. AtkinsRéalis and SRK Consulting are advancing the detailed engineering for the project.
Nouveau Monde said it is also engaged with local and Indigenous contractors to develop a procurement strategy and maximize the benefits to the regional economy. Funding has also been secured to build a recreational centre at the site.
“The North American market is eagerly awaiting the start-up of our Phase 2 ore-to-active-anode-material operations to access a local and carbon-neutral alternative to China’s supply,” Nouveau Monde chair Arne Frandsen said in a news release.
“With Canada having only mined 0.2% of the global natural graphite production last year – and the US 0% – Matawinie is set to be a gamechanger in today’s reshoring effort,” Frandsen said. “We are pioneering a new era of mining here, in North America, supported by top-tier engineering and local partnerships, setting new standards in sustainability and community integration.”
Matawinie may well be the world’s first all-electric open pit mine, says Nouveau Monde. Moreover, Benchmark Mineral Intelligence assessed the project to be the only natural graphite producer to qualify as industry leading in its ESG performance, outranking all the Western World, African and Chinese producers.
