NMG Acquires Mason Resources’ Lac Guéret Graphite Deposit/Uatnan Mining Project – One of the World’s Largest Graphite Projects in Development
Summary
This acquisition of another major asset in Québec, Canada, reinforces NMG’s fully vertically integrated production model in North America with the highest ESG standards of the industry, as validated by Benchmark Mineral Intelligence’s Sustainability Index. We are committed to a strong involvement of the First Nation and active engagement with the region’s community and stakeholders to ensure a responsible and sustainable development.” NMG has agreed to acquire 100% of Mason’s Lac Guéret Property, which consists among other things of 74 map-designated claims totalling 3,999.52 hectares. The Uatnan Mining Project lies within Nitassinan, the Innu of Pessamit’s ancestral territory, and the Rivière-aux-Outardes municipality located in the Côte-Nord administrative region, Québec, Canada, approximately 220 km as the crow flies, north northwest of the town of Baie-Comeau. Pushed by growth in electric vehicles, energy storage systems and other clean technology applications, graphite demand for lithium-ion batteries is projected to reach to over 10 million tonnes per annum by 2030, a 537% increase according to Benchmark Mineral Intelligence’s (December 2023) latest market assessment. With enviable ESG standards, NMG aspires to become a strategic supplier to the world’s leading battery and automobile manufacturers, providing high-performing and reliable advanced materials while promoting sustainability and supply chain traceability.