NMG Issues Updated Feasibility Study Confirming Technical and Economic Viability of Phase-2 Operations

NMG
October 08, 2025

Nouveau Monde Graphite (NMG) issued the results of its Updated Technical Feasibility Study Report for the Matawinie Mine and Bécancour Battery Material Plant Integrated Graphite Projects, effective March 25, 2025. The study, conducted by BBA Inc. and specialized consultants, confirms the technical feasibility and economic viability of NMG's Phase-2 operations.

The Updated Feasibility Study projects an after-tax Internal Rate of Return (IRR) of 17.5% and a Net Present Value (NPV) of US$1,053 million at an 8% discount rate. The initial capital expenditure (CAPEX) for the integrated project is estimated at US$1,326 million, with annual operating expenses (OPEX) of US$168 million.

The Matawinie Mine is projected to produce 105,882 tonnes per annum (tpa) of graphite concentrate with 97.5% C(t) purity over a 25-year life of mine. The Bécancour Battery Material Plant is set to transform this concentrate into 44,100 tpa of active anode material with 99.90% Cg purity, along with 43,334 tpa of micronized byproduct. NMG's offtake agreements with Panasonic Energy and General Motors cover over 80% of the planned Phase-2 active anode material production.

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