capital · May 16, 2026
Nouveau Monde Graphite Completes $644.5 Million Financing for Matawinie Mine Construction
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Nouveau Monde Graphite completed a $309.7 million equity financing package on May 15, 2026, including $213.2 million from Canada Growth Fund, Investissement Québec, and Eni plus a $96.5 million public offering. Total funds raised reached $644.5 million with debt from Export Development Canada and Canada Infrastructure Bank for the Matawinie mine and Bécancour battery material plant. The project will produce 106,000 tonnes of graphite concentrate annually over more than 25 years with full commercial production targeted by end of 2028. CEO Eric Desaulniers stated the project offers a G7 alternative to Chinese supply with three-quarters of output under offtake agreements including 30,000 tonnes yearly to the Government of Canada.