Nouveau Monde Graphite Inc. (NYSE:NMG) reported its 2025 financial results and outlined progress toward a final investment decision for the Phase 2 development of its Matawinie Mine, according to a company statement.
The Montreal-based graphite developer said it has obtained a $335 million senior secured project debt commitment from Export Development Canada and the Canada Infrastructure Bank to help finance construction of the Matawinie Mine. The funding remains subject to final documentation and customary closing conditions.
The company has also awarded major construction contracts representing more than half of the project’s total capital expenditures. Pomerleau has been selected as Construction Manager, while additional contracts have been awarded to ABB for electrical infrastructure, Metso for processing equipment and Manawan-Fournier for civil engineering works.
Nouveau Monde said commercial agreements now cover roughly 75% of expected production through arrangements with Panasonic Energy, the Government of Canada and Traxys Group. The company is targeting a final investment decision in the first half of 2026.
For its battery materials processing operations, the company has acquired a 143,000-square-meter brownfield property in Bécancour, Quebec, including a 22,000-square-meter industrial building. The facility is expected to be retrofitted to produce active anode material intended for Panasonic Energy.
Nouveau Monde also completed a $20 million public equity offering and finished 2025 with approximately CA$74 million in cash. The company reported a total recordable injury frequency rate of 3.92 across its facilities and maintained its carbon-neutral status through emissions reduction initiatives and verified carbon offsets.
The Matawinie Mine project has also been referred to Canada’s Major Projects Office, highlighting its role in the development of critical minerals supply. Natural graphite is currently classified as a critical mineral by Canada, the United States, the European Union, Australia, the United Kingdom and NATO.