{"id":595764,"date":"2026-04-10T23:12:27","date_gmt":"2026-04-10T23:12:27","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/595764\/"},"modified":"2026-04-10T23:12:27","modified_gmt":"2026-04-10T23:12:27","slug":"italys-eni-takes-stake-in-canadas-nouveau-monde-graphite","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/595764\/","title":{"rendered":"Italy\u2019s Eni takes stake in Canada\u2019s Nouveau Monde Graphite"},"content":{"rendered":"

Open this photo in gallery:<\/a><\/p>\n

Graphite extraction at Nouveau Monde Graphite’s Phase-1 Matawinie mining site.JULIEN PERRON GAGNE PHOTOGRAPHE\/Supplied<\/p>\n

Italian energy giant Eni SpA E-N<\/a> is taking a minority stake in Canadian graphite producer Nouveau Monde Graphite Inc. NOU-T<\/a>, a key investment as the critical mineral producer pushes closer to launch construction of its Matawinie mine in Quebec\u2019s Laurentians region. <\/p>\n

Eni will pay US$70-million for an expected 11.5-per-cent share in Nouveau Monde and gain a seat on its board, the Milan-based company said in a statement Friday. It is also negotiating a supply agreement with the Canadian company for future production. <\/p>\n

\u201cIt\u2019s very refreshing to see a real industrial player with big ambitions for the sector, for the project, and for Quebec<\/a> and Canada, coming into the shareholding,\u201d Nouveau Monde chief executive officer Eric Desaulniers said in an interview. \u201cIt demonstrates the viability and the solidness of the project.\u201d<\/p>\n

Eni\u2019s move is part of a larger US$297-million capital raise by Nouveau Monde that includes a US$82-million investment by Ottawa\u2019s Canada Growth Fund and US$61-million from the Quebec government. The miner plans to raise an additional US$84-million by issuing subscription receipts convertible to stock in a bought deal co-led by BMO Capital Markets and National Bank Capital Markets. <\/p>\n

Canada Growth Fund invests $25-million in Ontario rare earths recycling company<\/a><\/p>\n

Mr. Desaulniers said the new financing, combined with an existing debt commitment of US$335-million, should provide the capital required to move ahead with the construction of the Matawinie mine, located 120 kilometres north of Montreal. A final investment decision to proceed hasn\u2019t yet been made but should come in May, he said. <\/p>\n

Based on that schedule, the mine could be the next project chaperoned by the federal government\u2019s Major Projects Office to break ground following the Port of Montreal\u2019s Contrecoeur terminal expansion this past week<\/a>. Ottawa created the MPO to streamline approvals and help access funding sources for projects deemed to be in the national interest.<\/p>\n

Canada and other Group of Seven countries are making a multilateral drive to boost the G7\u2019s presence in critical minerals<\/a> in the face of global domination by China in many of the metals needed for modern economies. Graphite is one of several critical minerals used in low-carbon energy and is a key input in the defence sector. <\/p>\n

Prime Minister Mark Carney has repeatedly stressed that Canada must expand production of critical minerals in order to meet new NATO spending targets. Canada is a global leader in some critical minerals such as uranium, potash and nickel, but is a bit player in others, such as lithium, graphite and cobalt.<\/p>\n

Nouveau Monde is aiming to get the Matawinie open pit mine operational by 2028. It is also planning a plant in B\u00e9cancour, Que., where it would produce spherical graphite for batteries and other advanced manufacturing applications. <\/p>\n","protected":false},"excerpt":{"rendered":"Open this photo in gallery: Graphite extraction at Nouveau Monde Graphite’s Phase-1 Matawinie mining site.JULIEN PERRON GAGNE PHOTOGRAPHE\/Supplied…\n","protected":false},"author":2,"featured_media":595765,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[901,888,902,879,877,903,49,48,876,895,896,891,878,875,46,549,295,894,887,914,880,881,893,889,890,884,904,885,909,910,44,912,907,911,905,908,882,898,899,714,897,906,865,61,900,892,886,883,913],"class_list":{"0":"post-595764","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-canada","8":"tag-alberta","9":"tag-arts-news","10":"tag-bc","11":"tag-breaking-news","12":"tag-breaking-news-video","13":"tag-british-columbia","14":"tag-ca","15":"tag-canada","16":"tag-canada-news","17":"tag-canada-sports","18":"tag-canada-sports-news","19":"tag-canada-trafficcanada-weather","20":"tag-canadian-breaking-news","21":"tag-canadian-news","22":"tag-economy","23":"tag-education","24":"tag-environment","25":"tag-federal-government","26":"tag-foreign-news","27":"tag-globe-and-mail","28":"tag-globe-and-mail-breaking-news","29":"tag-globe-and-mail-canada-news","30":"tag-government","31":"tag-life-news","32":"tag-lifestyle","33":"tag-local-news","34":"tag-manitoba","35":"tag-national-news","36":"tag-new-brunswick","37":"tag-newfoundland-and-labrador","38":"tag-news","39":"tag-northwest-territories","40":"tag-nova-scotia","41":"tag-nunavut","42":"tag-ontario","43":"tag-pei","44":"tag-photos","45":"tag-political-news","46":"tag-political-opinion","47":"tag-politics","48":"tag-politics-news","49":"tag-quebec","50":"tag-sports-news","51":"tag-technology","52":"tag-travel","53":"tag-trudeau","54":"tag-us-news","55":"tag-world-news","56":"tag-yukon"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/595764","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=595764"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/595764\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/595765"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=595764"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=595764"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=595764"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}