- Northern Graphite (TSXV:NGC) and BMI Group, a global real estate, infrastructure and business development company, are in discussions to build a battery anode material facility at a former paper mill in Baie-Comeau, Quebec
- Northern Graphite is the only producer of flake graphite in North America out of its Lac des Iles mine in Quebec
- Northern Graphite stock has given back 23.33 per cent year-over-year and 17.86 per cent since 2020
Northern Graphite (TSXV:NGC) and BMI Group, a global real estate, infrastructure and business development company, are in discussions to build a battery anode material facility at a former paper mill in Baie-Comeau, Quebec.
Battery anodes, the single largest component of lithium-ion batteries, enable the discharge of lithium ions during energy use, with graphite serving as their most efficient and readily available raw material.
The companies are envisioning a stage 1 operation reaching 50,000 tons per year, which would make Northern Graphite one of the world’s largest integrated graphite producers. Feedstock would come from Northern’s producing Lac des Iles mine in Quebec, as well as development projects in Namibia and Ontario.
Potential locations for the facility include a 300-acre greenfield site owned by the city, or within Norderra, a node on BMI’s planned Critical Mineral Corridor to connect northern Ontario and Quebec’s mineral resources with manufacturing and global markets.
The companies will jointly pitch the project to utilities, local authorities and other service providers to specify feasibility.
The plant would complement Northern’s planned battery anode material facility in France, recently named a strategic project under the European Union’s Critical Raw Materials Act.
Leadership insights
“This partnership would significantly contribute to putting the former mill’s infrastructure to use, advancing the Norderra development, and unlocking the full potential of the region’s graphite resources,” Paul Veldman, chief executive officer (CEO) of the BMI Group, said in a statement.
“Reactivating this site with all of its established infrastructure could accelerate construction of a battery anode material plant, reduce time to market and advance Quebec and Canada’s critical mineral strategy while creating new jobs and economic stimulus for the region,” added Hugues Jacquemin, Northern Graphite’s CEO. “With graphite demand projected to surge in coming years, this is an opportunity to position Canada as a leader in battery materials essential for EVs and renewable energy.”
About Northern Graphite
Northern Graphite is the only producer of flake graphite in North America out of its Lac des Iles mine in Quebec, where production is ramping up to meet growing demand. It also owns the advanced-stage Bissett Creek project in Ontario, the Mousseau project in Quebec and the fully permitted Okanjande graphite mine in Namibia. The company’s Battery Materials Division develops advanced anode materials for lithium-ion batteries.
Northern Graphite stock (TSXV:NGC) opened unchanged trading at C$0.12. The stock has given back 23.33 per cent year-over-year and 17.86 per cent since 2020.
Join the discussion: Find out what everybody’s saying about this graphite stock on the Northern Graphite Corp. Bullboard and check out Stockhouse’s stock forums and message boards.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
(Top photo: Northern Graphite)
