Nouveau Monde Graphite (NMG) said Friday it signed multiple binding supply and marketing agreements that may cover nearly all future output of graphite concentrate and active anode material from its Phase-2 Matawinie Mine in Quebec.
The company signed term sheets with the government of Canada to place 30,000 tons per year of graphite concentrate with Canadian and allied entities for strategic uses such as energy, defense, and manufacturing. The agreement spans seven years.
In addition, the company revised its deal with Panasonic Energy to accelerate construction and production of 13,000 metric tons per year of active anode material for electric vehicle batteries. It also finalized a new agreement with Traxys North America to market 20,000 tons annually of graphite concentrate for the refractory sector, including a firm take-or-pay volume, pending board approval.
The company is also in advanced talks with a major undisclosed anode manufacturer to supply up to 30,000 tons per year of graphite concentrate, potentially supporting General Motors (GM) and other customers.
Nouveau Monde Graphite shares rose 4.1% in recent Friday activity, paring earlier gains. Trading had been halted earlier.
Price: 3.05, Change: +0.12, Percent Change: +4.10
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