Nouveau Monde Graphite Secures US$213M Equity Investment, US$84M Public Offering, Fully Funding Phase-2 Matawinie Mine
Nouveau Monde Graphite Inc. (NMG) announced a significant financing package, including a US$213 million aggregate equity investment from Canada Growth Fund, the Government of Québec, and Eni S.p.A., alongside a concurrent US$84 million bought deal public offering. This equity financing, combined with a previously committed US$335 million in project debt facilities, is expected to fully fund the Phase-2 Matawinie Mine project, enabling NMG to advance towards a Final Investment Decision (FID) and construction. The strategic funding also supports the company's integrated mine-to-anode-material value chain, with the 13-ktpa Bécancour Battery Material Plant targeted for FID in H2-2026. Eni's investment is further complemented by a letter of intent for a potential 15,000-tpa graphite concentrate offtake, underscoring strong commercial interest.
Key Highlights
- NMG secured an aggregate US$213 million equity investment for its Phase-2 Matawinie Mine project.
- The equity investment comprises US$82 million from Canada Growth Fund, US$61 million from Investissement Québec, and US$70 million from Eni S.p.A.
- A concurrent US$84 million bought deal public offering of subscription receipts was launched, completing the equity component of the financing.
- Combined with US$335 million in previously announced project debt facilities, the total financing package is expected to fully fund the Phase-2 Matawinie Mine.
- Eni's equity investment is complemented by a letter of intent for a potential 15,000-tpa graphite concentrate offtake from the Phase-2 Matawinie Mine.
- The financing enables the start of NMG’s execution strategy for an integrated mine-to-anode-material value chain, with the 13-ktpa Bécancour Battery Material Plant targeted to reach FID in H2-2026.