NMG maintained its focus on the completion of its Phase-1 production line with the construction of its coating unit and the advancement of its Phase-2 operations through process optimization, engineering, procurement planning, preparatory work and updated economics modelling.
New variants of COVID-19 forcing lockdowns in
Arne H Frandsen, Chair of NMG, commented: 'These dynamics demonstrate the urgency to invest in advanced materials production to serve tomorrow's economy. Manufacturers and governments are now grasping the importance of critical minerals, local production, rapid commercialization and ESG-minded businesses. This represents a springboard for NMG's development as the Company prepares for the deployment of its large Phase-2 integrated operations. NMG is ideally positioned in this context to provide a carbon-neutral, reliable and sizeable alternative to Chinese supplies.'
Current market conditions combined with engagement reaping from NMG's marketing program have led to enhanced activities with potential tier-1 customers in 2022 with a view to securing a long-term cornerstone offtake agreement for its anode material. Production at Phase-1 facilities and testing at NMG's new laboratory enable the supply of graphite products in a variety of specifications to meet the individual requirements of each manufacturer. NMG has advanced into the qualification process with several battery manufacturers, now providing A & B samples. Sustained interest from potential top-tier customers is supported by quality checks, site visits to the Company's Phase-1 operations and requests for information.
Interest in NMG's high-purity advanced materials stems from industry leaders as North American production enters a growth phase and raw materials supplies become constrained. Indeed, rising anode demand, interrupted graphite production in
NMG is set to join the marketplace at
Battery Material Plant
NMG's proprietary coating process is taking shape at the Company's Phase-1 demonstration plant. With key deliveries having all been received, construction is advancing safely, efficiently and on budget for targeted commissioning by the end of H1-2022. This unit is set to complete NMG's production line, from ore to anode material, for a 2,000 tpa nameplate capacity.
Production of spherical purified graphite continues via NMG's shaping and purification modules. Site preparation is now completed at the Company's facility ahead of the delivery and installation of the new state-of-the-art shaping unit expected to be delivered towards the end of Q2-2022.
In parallel, the Front-End Loading feasibility engineering analysis ('FEL-3') for the Company's Phase-2 operations is progressing and on budget, with a 75% completion rate and a scheduled completion by the end of Q2-2022. NMG's integrated business model will be reflected in this National Instrument 43-101 Standards of Disclosure for Mineral Projects ('NI 43-101')-compliant feasibility study for the Phase-2 Becancour Battery Material Plant to update planning, cost projection, and development framework in a unified structure with the
Continued detailed engineering and optimization for the construction of the
In preparation of the mining infrastructure, tree clearing activities and implementation of environmental protection infrastructure resumed in Q1-2022 to prepare the site for the next phase of civil works.
As part of its electrification strategy, the Company is working with
Corporate and ESG
NMG conducts its operations guided by its Zero-Harm Philosophy. The Company reports a period-end
The Company has commenced strengthening its quality assurance and quality control with the development of an ISO 9001-compliant management system to support NMG's certification objectives, the groundwork for which has commenced in Q1-2022.
In the final stages of preparation, NMG expects the life cycle analysis for its portfolio of green graphite-based materials to be completed by the end of Q2-2022 by its retained lifecycle expert and the independent consultant mandated for the external review as per ISO 14040 and ISO 14044 requirements. Results will support the Company's commercial discussions as the marketplace is increasingly seeking visibility on its supply chain and greater sustainability performance.
The Company is also advancing with the structuring and securing of project financing for the construction and development of the Phase-2 Becancour Battery Material Plant and the
As minerals demand projections continue to rise, Western governments are deploying programs, policies and business incentives to support the development of local capacity and reduce overreliance on Chinese supply. In Q1-2022, both the
The
As at
About
Nouveau Monde is striving to become a key contributor to the sustainable energy revolution. The Company is working towards developing a fully integrated source of carbon-neutral battery anode material in
Cautionary Note Regarding Forward-Looking Information
All statements, other than statements of historical fact, contained in this press release including, but not limited to those describing the intended results of the Company's development plans, the timeline and progress of the initiatives described in this press release, forecasts of future graphite demand and supply, the benefits of the Company's de-risking strategy, the impact of the foregoing on the project economics, the Company's intended production capacity of carbon-neutral anode material, the growth of the lithium-ion battery and EV markets, the Company's commitments and performance with respect to its ESG initiatives, including the intended electrification of the
Moreover, these forward-looking statements were based upon various underlying factors and assumptions, including the current technological trends, the business relationship between the Company and its stakeholders, the ability to operate in a safe and effective manner, the timely delivery and installation of the equipment supporting the production, the Company's business prospects and opportunities and estimates of the operational performance of the equipment, and are not guarantees of future performance.
Forward-looking information and statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking information and statements. Risk factors that could cause actual results or events to differ materially from current expectations include, among others, delays in the scheduled delivery times of the equipment, the ability of the Company to successfully implement its strategic initiatives and whether such strategic initiatives will yield the expected benefits, the availability of financing or financing on favorable terms for the Company, the dependence on commodity prices, the impact of inflation on costs, the risks of obtaining the necessary permits, the operating performance of the Company's assets and businesses, competitive factors in the graphite mining and production industry, changes in laws and regulations affecting the Company's businesses, political and social acceptability risk, environmental regulation risk, currency and exchange rate risk, technological developments, the impacts of the global COVID-19 pandemic and the governments' responses thereto, and general economic conditions, as well as earnings, capital expenditure, cash flow and capital structure risks and general business risks. Unpredictable or unknown factors not discussed in this Cautionary Note could also have material adverse effects on forward-looking statements.
Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. The Company disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.
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