Following a rigorous environmental review, the Québec Government
has issued a ministerial decree authorising Nouveau Monde Graphite
Inc.’s (“Nouveau Monde” or the “Company”) (TSXV: NOU; OTCQX: NMGRF;
Frankfurt: NM9) Matawinie mining project for a 100,000-tpa
high-purity graphite concentrate production. Located only 150 km
north of Montréal, the Company’s world-class deposit constitutes
the largest projected graphite operation in North America and
Europe and is expected to become the world’s first all-electric
open-pit mine.
Since filing its bankable feasibility study,
Nouveau Monde has invested time and effort to meticulously plan
mining and environmental engineering, master the ore metallurgical
process to reach 97% purity after simple flotation, de-risk its
operation through its demonstration plant, and actively engage with
the local community of St-Michel-des-Saints to secure a social
license to operate and with the Atikamekw First Nation.
The environmental decree now provides Nouveau
Monde with the operational criteria and final design parameters to
launch construction activities. From mining development and
environmental engineering to metallurgy and project management, the
Company has assembled an experienced team with a comprehensive
skillset to finalize the robust project schedule, pay close
attention to cost control and deliver sound execution.
Through an innovative coordination table set up
by the Québec Government, Nouveau Monde has worked collaboratively
with various authorities over the past months to prepare the
permitting process. Hence, Nouveau Monde plans to start early works
at the mining site as of Q2-2021, and full construction is expected
to be launched in Q3-2021 once permits and authorisations are
finalized. The project timeline places commissioning activities and
start-up of commercial production in 2023, in time to meet the
growing demand of battery manufacturers.
Arne H. Frandsen, Chairman of Nouveau
Monde, commented: “Today’s milestone is something we have
worked towards as a team since the outset in 2011. After a decade
of meticulous planning, we can now commence the mine construction
of our world-class Matawinie graphite project. We are most grateful
for the continued support Nouveau Monde has received from the
Québec Government and our partnership with Investissement Québec as
well as the backing from our local host communities – all being
important stakeholders of this success. We will exercise our
mandate in the spirit of cooperation, sustainability and benefit
sharing for all parties involved. The creation of the Western
World’s largest anode-quality graphite mine will assist positioning
Québec as the prime location for the North American battery
materials hub – supplying the continent with the critical anode and
cathode materials required for the batteries needed for the global
electrification of mobility.”
Eric Desaulniers, President and CEO of
Nouveau Monde, added: “This is a day of celebration. I
founded Nouveau Monde 10 years ago, and today’s decree is a huge
milestone for us all. It is a critical element which our employees,
community, clients, and shareholders have been waiting for. We can
be proud of the innovation and dedication that we have demonstrated
throughout the engineering and environmental review phases; they
now favourably position us in the marketplace. With this green
light to launch our Matawinie project, we plan to bring to market a
responsibly extracted high-purity graphite to supply EV and energy
storage sectors with a local and sustainable alternative. Doing so
will position Nouveau Monde as a leading anode material provider
for decades to come, creating opportunities and unlocking value for
all parties involved.”
Setting new standards for
mining
Nouveau Monde is working towards developing an
operation that can provide the volumes required by major auto OEMs
and battery manufacturers; the most recent estimates indicate 120.3
Mt combined measured and indicated resources at a 4.26% Cg grade.
Geological knowledge of the Matawinie property paired with
experience in extracting and concentrating the ore at the Company’s
demonstration plant have significantly de-risked the project.
Nouveau Monde has also integrated
forward-looking and innovative environmental initiatives to limit
the project’s footprint and protect local biodiversity, namely:
- integrated
onsite water management system guaranteeing constant monitoring and
treatment that meet the highest quality standards;
- co-disposal of
tailings and waste rock in line with requirements of the best
practices such as The Global Tailings Review, the International
Network for Acid Prevention and the Canadian Mine Environment
Neutral Drainage Program. This management solution helps avoid acid
mine drainage, provides greater environmental safety in the long
term and reduces the infrastructure’s footprint;
- progressive land
reclamation through backfilling of the pit and a comprehensive
restoration plan;
- all-electric
fleet – a world’s first for an open-pit mine – powered by Québec’s
clean, abundant, and affordable hydroelectricity.
Proactive management of environmental
liability
Through its demonstration operations, Nouveau
Monde has already validated its process for desulphurisation of
tailings and completed the construction of a co-disposal
experimental cell through a collaborative partnership with
Université du Québec en Abitibi-Témiscamingue (“UQAT”)
(www.uqat.ca).
Picture of the co-disposal cell at Nouveau
Monde’s demonstration site, September
2020: https://www.globenewswire.com/NewsRoom/AttachmentNg/d37aaada-2e86-4431-8fea-891930737b63
Over the life of mine, the Company intends to
implement this system through a co-disposal pile and backfilling of
the pit as of year 6, promoting thereby the restoration of the
natural ecosystem while reducing environmental risks. To ensure
long-term sustainability, the co-disposal storage facility will
also include a capillary barrier effect multi-layer cover to block
oxygen and vegetate the site.
SNC-Lavalin (www.snclavalin.com), Lamont Expert
(www.lamont-expertconseil.com), Minesite Drainage Assessment Group
(“MDAG”) (http://mdag.com/) and the National Research Council of
Canada (“NRC”) (https://nrc.canada.ca/) have conducted modeling
analysis of Nouveau Monde’s co-disposal design to study critical
design parameters on sulfide oxidation reaction rates and optimise
configurations of the pit backfill and co-disposal pile.
Recently the Company has expanded the mandate of
NRC to simulate additional site-specific pile design parameters,
like compaction level, using Nouveau Monde’s demonstration plant
tailings and test cell results. NRC will expand the model developed
in earlier phases and provide the Company with a strong tool to
optimise tailings deposition plans.
Progressive Land
Reclamation: https://www.globenewswire.com/NewsRoom/AttachmentNg/953d96d1-0182-498c-91d1-821638f2e76b
Land reclamation starts
today
Nouveau Monde is committed to reaching, and even
exceeding, the original biodiversity threshold while ensuring the
community’s safety and protection of water and natural resources.
The Company has tasked Viridis Terra (www.viridisterra.com), a
landscape restoration expert, with the preparation of an ecological
and climato-edaphic study to refine reclamation parameters, and the
assessment of the optimal mix for seeding from the valuation of
deforestation by-products. Hence, initiatives, as early as 2021,
will be launched to conduct field test beds for the study and
optimisation of vegetation establishment, test flora species’
natural ability to capture metals, re-sequester carbon following
deforestation activities, and enhance wetlands and phytoremediation
as complementary passive natural treatment systems. Such efforts
would help select species that promote the rapid return of a
resilient and sustainable native ecosystem, limit wind and water
erosion, enhance biodiversity, protect the co-disposal progressive
cover and reduce environmental liabilities.
In collaboration with research centres, tests
could be carried out in labs, in greenhouses and in situ.
Pictures of vegetation testing for root system
and purifying rhizospheric
capabilities: https://www.globenewswire.com/NewsRoom/AttachmentNg/46e3c982-298a-40b5-a85c-bee832f46914
Catalyst for socio-economic
growth
In keeping with its responsible approach,
Nouveau Monde has launched many initiatives since the deposit
discovery to align the Matawinie project with the realities,
concerns, and values of the local community. In addition to the
creation of jobs and business opportunities, Nouveau Monde has
signed a collaboration and benefit-sharing agreement with the
municipality of Saint-Michel-des-Saints to set out a concrete
social, economic and environmental development partnership through
financial and participatory mechanisms.
The Company has also led the implementation of a
professional training program in collaboration with the regional
school board and two forest product companies. This paid on-the-job
education program, with guaranteed employment upon graduation, is a
winning formula for developing a skilled, local workforce. Launched
in June 2020, the program begins training its third cohort in
February 2021.
Investor briefing
Shareholders and investors are invited to attend
a virtual briefing session hosted by Eric Desaulniers and Arne H.
Frandsen today at 11:00
EST: https://zoom.us/webinar/register/WN_ud6ISlb7TgK4jNwncdH4Vg.
An interview with Eric Desaulniers along with
images of the deposit and demonstration plant are also available
for viewing here: https://youtu.be/H27afM0XL_0. ProRes files
are available for the media
here: https://we.tl/t-94LN8mFQQf.
The technical data included in this release were
prepared by Martine Paradis, MSc, Eng., VP Engineering &
Environment for Nouveau Monde and reviewed by Antoine Cloutier,
géo, Chief Geologist for Nouveau Monde, both are a Qualified Person
as defined by NI 43–101 Regulation.
About Nouveau MondeNouveau
Monde is striving to become a key element in the sustainable energy
revolution. The Company is working towards developing a
fully-integrated source of green battery anode material in Québec,
Canada. Targeting full-scale commercial operations by 2023, the
Company is developing advanced carbon-neutral graphite-based
material solutions for the growing lithium-ion and fuel cell
markets. With low-cost operations and high ESG standards, Nouveau
Monde aspires to become a strategic supplier to the world’s leading
battery and auto manufacturers, ensuring robust and reliable
advanced material, while guaranteeing supply chain
traceability.
Media |
Investors |
Julie Paquet Director, Communications +1-450-757-8905
#140jpaquet@nouveaumonde.ca |
Christina Lalli Director, Investor
Relations +1-438-399-8665 clalli@nouveaumonde.ca |
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Cautionary Note Regarding
Forward-Looking Information All statements, other than
statements of historical fact, contained in this press release
including, but not limited to (i) the positive impact of the
foregoing on project economics, (ii) the intended results of the
initiatives described above, (iii) the intended project output
capacity and (iv) generally, or the “About Nouveau Monde” paragraph
which essentially describe the Company’s outlook and objectives,
constitute “forward-looking information” or “forward-looking
statements” within the meaning of certain securities laws, and are
based on expectations, estimates and projections as of the time of
this press release. Forward-looking statements are necessarily
based upon a number of estimates and assumptions that, while
considered reasonable by the Company as of the time of such
statements, are inherently subject to significant business,
economic and competitive uncertainties and contingencies. These
estimates and assumptions may prove to be incorrect. Moreover,
these forward-looking statements were based upon various underlying
factors and assumptions, including the timely delivery and
installation of the equipment supporting the production, the
Company’s business prospects and opportunities and estimates of the
operational performance of the equipment, and are not guarantees of
future performance.
Forward-looking information and statements are
subject to known or unknown risks and uncertainties that may cause
actual results to differ materially from those anticipated or
implied in the forward-looking information and statements. Risk
factors that could cause actual results or events to differ
materially from current expectations include, among others, delays
in the scheduled delivery times of the equipment, the ability of
the Company to successfully implement its strategic initiatives and
whether such strategic initiatives will yield the expected
benefits, the operating performance of the Company’s assets and
businesses, competitive factors in the graphite mining and
production industry, changes in laws and regulations affecting the
Company’s businesses, technological developments, the impacts of
the global COVID-19 pandemic and the governments’ responses
thereto, and general economic conditions. Unpredictable or unknown
factors not discussed in this Cautionary Disclaimer could also have
material adverse effects on forward-looking statements.
Many of these uncertainties and contingencies
can directly or indirectly affect, and could cause, actual results
to differ materially from those expressed or implied in any
forward-looking statements. There can be no assurance that
forward-looking statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Forward-looking statements are
provided for the purpose of providing information about
management’s expectations and plans relating to the future. The
Company disclaims any intention or obligation to update or revise
any forward-looking statements or to explain any material
difference between subsequent actual events and such
forward-looking statements, except to the extent required by
applicable law.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
Further information regarding Company is
available in the SEDAR database (www.sedar.com) and on the
Company’s website at: www.NouveauMonde.group
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