Nouveau Monde Graphite (NMG) provided an update on its Phase-2 commercial plans, detailing progress in project financing, engineering, procurement, and construction preparation following its Updated Feasibility Study. The company has received cumulative expressions of interest totaling approximately $1.6 billion for financing and identified a potential for securing $450 million through the Canadian Investment Tax Credit for Clean Technology Manufacturing.
NMG published its 2024 ESG Report, showcasing continued stewardship of environmental, social, and governance issues, including scenario analysis for climate risk management and the signing of an Impact and Benefit Agreement with the Atikamekw First Nation of Manawan. The report also noted a notable improvement in the company's CDP climate score and strengthened community engagement.
Operationally, NMG initiated the decommissioning of its Phase-1 Purification Plant due to a change in technology and upcoming lease expiry, while other Phase-1 operations continue to produce flake concentrate and samples. The company reported a cash position of $89 million at the end of March 31, 2025, and announced that directors Arne H Frandsen, James Scarlett, and Andrew Willis will not seek re-election, proposing Paola Farnesi and Édith Jacques as new board nominees for the upcoming Annual General Meeting.
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