Quebec-based Nouveau Monde Graphite (NMG) is aiming to take a final investment decision in the coming months on a C$374 million (US$267 million) active anode material plant in Bécancour.
The company is presenting the project to prospective investors at the inaugural Canada Investment Summit in Toronto on 14–15 September. The proposed plant would produce 13,000 tonnes/year of active anode material from natural graphite.
NMG said it was accelerating engineering and due-diligence work while arranging the additional finance required for a decision in the second half of 2026. Commercial arrangements with prospective customer Panasonic Energy must also be completed.
A recently completed Class 3 cost estimate put capital expenditure at C$374 million. The estimate has an accuracy range of minus 20% to plus 30%, meaning the final cost could differ substantially as engineering and procurement progress.
The plant would be developed on a 143,000m² brownfield property acquired by NMG in February. The site includes an existing 22,000m² industrial building and adjoins the company’s 200,000m² greenfield property in Bécancour’s industrial park.
NMG said reusing the existing Quebec site and infrastructure should reduce costs and shorten permitting, engineering and construction compared with an entirely greenfield development.
Construction in Quebec would take place two years after an investment decision
Construction is expected to take approximately 24 months following a positive investment decision. A 12-month ramp-up would follow, putting the target for commercial production around three years after the decision.
The plant’s full planned output is covered by a seven-year binding offtake agreement with Panasonic Energy. The agreement remains subject to conditions including successful plant commissioning and final product qualification. Panasonic has also indicated it may make a further equity investment when NMG takes the investment decision.
Graphite concentrate would be supplied by NMG’s Matawinie mine, also in Quebec. The company took a final investment decision on the mine in May and construction is under way. Matawinie is designed to produce approximately 106,000 tonnes/year of graphite concentrate over a 25-year operating life, with ramp-up scheduled to begin by the end of 2028.
NMG intends to refine, purify and coat part of that production at Bécancour, creating an integrated Canadian supply of natural graphite active anode material for lithium-ion batteries.
