Nouveau Monde Graphite, Canadian Government Update Term Sheet for Matawinie Mine

MT Newswires Live03-26

Nouveau Monde Graphite (NMG) said Thursday that it has finalized an updated binding long-form term sheet with the Canadian government to supply, store, and resell graphite concentrate from phase 2 of its Matawinie Mine project in Quebec, Canada.

The mining company said the framework covers a seven-year, 30,000 tonnes per annum purchase commitment. It also said the updated marketing structure allows it to resell Canada's committed volumes, with upside-sharing on proceeds above the fixed price, as well as the ability for Canada to store product.

"The contemplated supply, storage and marketing structure is designed to support Canada's strategic ambitions while preserving commercial agility for NMG as we advance toward definitive agreements and a final investment decision," Chief Executive Eric Desaulniers said in statement.

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