Canada fast-tracks $459M graphite mine to fuel EV and tech demand
Prime Minister Mark Carney has announced the start of construction at Nouveau Monde Graphite’s Matawinie mine in Quebec. The project, located around 120 kilometres north of Montreal, will receive a $459 million financing package from the government to speed up its development. The Matawinie mine is one of the latest infrastructure projects fast-tracked by the Carney government through Canada’s Major Projects Office. Once fully operational, it will produce 106,000 tonnes of graphite each year. This mineral is essential for electric vehicle batteries, energy storage systems, and defence and aerospace technologies.
A battery material plant will also be built in Becancour, Quebec, to refine the graphite extracted from the mine. The government’s funding aims to accelerate both the mining and refining processes. Quebec’s graphite is set to be exported to key trading partners in Asia and Europe, including Japan and Italy. The project aligns with growing demand for critical minerals in global supply chains.
The $459 million investment will help bring the Matawinie mine online faster. Its annual output of 106,000 tonnes of graphite will support industries relying on advanced materials. The refined product will also strengthen trade ties with international markets.
