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NMG Provides Update on Advancement of its Phase-2 Projects and Market Conditions
NMG Provides Update on Advancement of its Phase-2 Projects and Market Conditions

Business Wire

timea day ago

  • Business
  • Business Wire

NMG Provides Update on Advancement of its Phase-2 Projects and Market Conditions

MONTRÉAL--(BUSINESS WIRE)--Nouveau Monde Graphite Inc. ('NMG' or the 'Company') (NYSE: NMG, TSX: NOU) is reporting continued progress in advancing its Phase-2 Matawinie Mine and Phase-2 Bécancour Battery Material Plant toward reaching a final investment decision ('FID') thanks to technical project development, active financing activities, and commercial engagement with customers. Current trade and geopolitical dynamics create a changing environment for NMG's development, with both opportunities and challenges; hence, the Company is exploring various financing and commercial scenarios to lessen risk exposure and facilitate its market entry. 'We remain centered on our mission to develop a responsible and resilient North American graphite value chain for the battery sector to help meet the expansion of the electric vehicle ('EV') and energy storage markets." Share Eric Desaulniers, Founder, President, and CEO of NMG, declared: 'Resource nationalism, tariffs, policy headwinds, and shifting global alliances are creating uncertainty in global supply chains and investment planning. Nevertheless, we remain centered on our mission to develop a responsible and resilient North American graphite value chain for the battery sector to help meet the expansion of the electric vehicle ('EV') and energy storage markets. We are refining our execution plan to capitalize on positive political and commercial interests, while reducing vulnerabilities associated with uncertainties.' Advancement Toward FID: Project & Financing Update Since issuing the NI 43-101 Updated Technical Feasibility Study Report for the Matawinie Mine and Bécancour Battery Material Plant Integrated Graphite Projects (the 'Updated Feasibility Study'), NMG has pursued the development of the Phase-2 Matawinie Mine in preparation for FID. Detailed engineering, negotiation of contracts with key suppliers, preparation of call for tenders for construction, value engineering, electrification planning, and schedule optimization are ongoing to advance the project. The Company has also initiated work for key environmental infrastructure at the demonstration mining site in view of additional flake production at the Phase-1 Demonstration Plant. In parallel, NMG is actively focusing on advancing engineering of the Phase-2 Bécancour Battery Material Plant to optimize processing technologies and refine environmental, operational, and financial parameters, in view of reaching FID. Engineering is being supported by specialized Asian firms with expertise in the graphite and anode material industry. Large-scale testing and sample production are being planned at partnering facilities to inform engineering and commercialization efforts. The Company is working with its Anchor Customers and other potential tier-1 customers toward bankable offtake agreements paired with strategic investments to bring NMG's Phase-2 Matawinie Mine and Phase-2 Bécancour Battery Material Plant to FID, subject to their respective technical, commercial and financing parameters. The Company is exploring various financing and commercial scenarios to lessen risk exposure in light of current geopolitical conditions, including the possibility of sequencing financing stages. Financing activities continue to progress via engagement with its customers, potential lenders, and targeted institutional equity investors with a view to advancing key requirements. To date, the Company has received letters of interest toward the debt financing structure for over US$1 billion toward the Company's Phase-2 Matawinie Mine and Bécancour Battery Material Plant. Targeted capital providers include various governmental bodies, public institutions, and export credit agencies, namely Export Development Canada and Canada Infrastructure Bank. The financing structure at FID is set to also include an equity participation from key investors, including the Company's Anchor Customers. Market Perspectives The global EV momentum remains strong despite some policy headwinds in North America. Over nine million EVs were sold worldwide in the first half of 2025, a 28% year-to-date increase that saw significant growth in China (+32%) and Europe (+26%), while the North American EV market slowed to just 3% growth (Rho Motion, July 2025). According to the International Energy Agency, global EV sales are on track to exceed 20 million in 2025. GM, NMG's Anchor Customer, emerged as the #2 EV manufacturer in the U.S., with EV sales up 104% in H1 2025. In Canada, GM secured the #1 place in Canadian EV sales, posting a 38% year-over-year increase (GM, July 2025). Energy storage is experiencing record growth with global grid-scale deployments increasing by over 50% in H1 2025 (Rho Motion, July 2025), fueled by new renewable energy capacity, AI-driven electricity demand and grid resilience infrastructure. Rho Motion tracked 14 gigascale projects (>1 GWh) entering operation in 2025 so far, and over 300 such projects scheduled for completion before 2027. The International Energy Agency forecasts a 180% increase in global data center electricity demand by 2030, bolstering the need for large-scale storage. GM announced a partnership with Redwood Materials to supply batteries for data centers, marking AI infrastructure as a second major growth market for lithium-ion batteries beyond EVs (GM, July 2025). The global pipeline of battery production remains robust at 9,275 GWh (Benchmark, July 2025). New capacity is coming online, namely Panasonic Energy's, NMG's Anchor Customer, De Soto plant inaugurated in July 2025. The Kansas factory is set to boost Panasonic Energy's U.S.-based production capacity to approximately 73 GWh and help meet the demand from automotive customers expanding their EV production (Panasonic Energy, July 2025). Panasonic Energy is targeting a 50% local supply chain integration and full production by year-end, while diversifying its EV client base across established OEMs and start-ups (Bloomberg, July 2025). Resetting American policies on clean technology and strategic sectors, the newly adopted American One Big Beautiful Bill Act tightens domestic content rules for battery manufacturing and imposes new limits to exclude China and other foreign entities of concern from critical mineral supply chains. The legislation also eliminates and/or phases out incentives in several sectors but preserves battery storage tax credits. It also allocates US$2.0 billion for the National Defense Stockpile to acquire strategic and critical minerals, and US$5.0 billion to the Department of Defense's Industrial Base Fund for investments in critical mineral supply chains (U.S. Congress; SFA Oxford, July 2025). Moreover, the U.S. Department of Commerce announced preliminary affirmative determinations as part of its antidumping and countervailing duties investigation of active anode material from China (International Trade Administration, July 2025). Combined tariffs on Chinese graphite-based active anode material bring effective duties to 160%, thus improving the competitiveness of North American producers (Benchmark Mineral Intelligence, July 2025). Final duties determination is expected in December 2025. Members of the North Atlantic Treaty Organization ('NATO'), a political and military alliance of countries from Europe and North America, adopted a new Defense Investment Pledge of 5% of GDP by 2035, including 1.5% for defense-adjacent infrastructure such as critical minerals development. NATO lists graphite among 12 essential minerals for defense technology (NATO, July 2025). Investments in Canadian critical minerals not only strengthen NATO readiness but also reduce reliance on Chinese-controlled supply chains. Management notes that current trade and geopolitical dynamics—marked by rising tariffs, shifting alliances, and growing resource nationalism—are injecting significant uncertainty into global supply chains and investment planning. EV adoption remains strong globally but is encountering policy headwinds in North America, while energy storage emerges as the next major growth driver, fueled by rising AI and data center power demand. Geopolitical fragmentation and reconfiguration of global trade flows are reshaping alliances and leading to volatility in investment and operational planning, with firms delaying or altering strategies amid uncertainty. Together, these shifts may reshape market demand, investment flows and supply chain strategies across the Western World (World Economic Forum, June 2025). About Nouveau Monde Graphite Nouveau Monde Graphite is an integrated company developing responsible mining and advanced processing operations to supply the global economy with carbon-neutral active anode material to power EV and renewable energy storage systems. The Company is developing a fully integrated ore-to-battery-material source of graphite-based active anode material in Québec, Canada. With recognized ESG standards and structuring partnerships with Anchor Customers, NMG is set to become a strategic supplier to the world's leading lithium-ion battery and EV manufacturers, providing advanced materials while promoting sustainability and supply chain traceability. Subscribe to our news feed: Cautionary Note Regarding Forward-Looking Information This press release contains 'forward-looking information' and 'forward-looking statements' within the meaning of applicable securities legislation (collectively, 'forward-looking statements'), including, but not limited to, statements relating to future events or future financial or operating performance of the Company and reflect management's expectations and assumptions regarding the Company's growth, results, performance and business prospects and opportunities. Such forward-looking statements reflect management's current beliefs and are based on information currently available to it. These forward-looking statements include, but are not limited to, the Company's ability to secure its project financing and to secure a positive FID, including to complete the term sheet and finalize the legal documentation, to execute contracts with key suppliers and construction contractors, to complete the detailed engineering, to develop a fully integrated ore-to-battery-material source of graphite-based active anode material in the Province of Québec, including the possibility of sequencing financing stages, exploring various financing and commercial scenarios to lessen risk exposure and facilitate its market entry, the completion of the Phase-2 Matawinie Mine and Bécancour Battery Material Plant, and the expected results of the initiatives described in this press release, and those statements which are discussed under the 'About Nouveau Monde' paragraph and elsewhere in the press release which essentially describe the Company's outlook and objectives. Forward-looking statements are based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions are not guarantees of future performance and may prove to be incorrect. Moreover, these forward-looking statements are based upon various underlying factors and assumptions, including the business relationship between the Company and its stakeholders, the ability to obtain sufficient financing for the development of the Matawinie Mine and the Bécancour Battery Material Plant, the Company's ability to satisfy the due diligence processes of the stakeholders, and are not guarantees of future performance. Forward-looking statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking statements. Risk factors that could cause actual results or events to differ materially from current expectations include, among others, availability financing or financing on favorable terms for the Company, delays in the reaching FID, and general economic conditions, as well as earnings, capital expenditure, cash flow and capital structure risks and general business risks. A further description of risks and uncertainties can be found in NMG's Annual Information Form dated March 31, 2025, including in the section thereof captioned 'Risk Factors', which is available on SEDAR+ at and on EDGAR at Unpredictable or unknown factors not discussed in this Cautionary Note could also have material adverse effects on forward-looking statements. Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. The Company disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.

Saks Global Appoints Brandy Richardson as Chief Financial Officer
Saks Global Appoints Brandy Richardson as Chief Financial Officer

Malaysian Reserve

time16-07-2025

  • Business
  • Malaysian Reserve

Saks Global Appoints Brandy Richardson as Chief Financial Officer

Proven luxury retail leader brings deep industry experience to Saks Global's finance organization NEW YORK, July 16, 2025 /PRNewswire/ — Saks Global, the largest multi-brand luxury retailer in the world, announced the appointment of Brandy Richardson as Chief Financial Officer, effective August 18, 2025. Richardson succeeds Interim Chief Financial Officer Mark Weinsten, who joined Saks Global to lead the company's finance organization through the initial stages of its transformation following its acquisition of Neiman Marcus Group (NMG) in December 2024. With nearly 25 years of experience, Richardson joins Saks Global from Tailored Brands, Inc., where she has served as Executive Vice President and Chief Financial Officer since 2021. Richardson spent the majority of her career at NMG where she held several finance leadership roles of increasing responsibility over her 15-year tenure. Richardson brings deep industrial knowledge of luxury retail and a track record of building best-in-class finance organizations and implementing strategic initiatives that lead to stronger financial positions and sustainable profit and growth models. 'With her deep background in both luxury retail and finance, Brandy is the right leader to drive Saks Global's financial performance as we execute on our ambitious transformation strategy and capitalize on the significant growth opportunity within the luxury market,' said Marc Metrick, CEO of Saks Global Operating Group. 'Brandy joins us at a time of great momentum on our journey to redefine luxury shopping. I'm confident that her strong leadership and strategic perspective will position us for long-term sustainable growth and value creation.' Metrick continued, 'Mark has provided critical direction to develop and implement our finance strategy following the NMG acquisition, positioning us to meet our commitments and execute on our strategic plans. He has brought valuable leadership to Saks Global, and we are grateful for his stewardship during this transformational time.' Brandy Richardson added, 'Saks Global is poised to shape the future of luxury retail and I'm thrilled to join this forward-thinking team. My years with NMG were foundational to my career, and I'm energized by the opportunity to return to luxury retail as part of Saks Global during this incredibly exciting time for the company. I look forward to helping drive the company's future success by identifying and pursuing opportunities for sustainable, long-term growth.' Richardson will be part of the Saks Global Management Team, reporting to Metrick. She will join Saks Global's Dallas-based team. Richardson and Weinsten will partner together to ensure a seamless transition. About Saks Global Saks Global is a combination of world-class luxury retailers, including Neiman Marcus, Bergdorf Goodman, Saks Fifth Avenue and Saks OFF 5TH, as well as a portfolio of prime U.S. real estate holdings and investments. Saks Global is deeply committed to helping luxury consumers discover the most sought-after established and emerging brands from around the world. Powered by data-driven technology and centered on the customer, Saks Global is on a mission to redefine the luxury shopping experience through highly personalized service, with greater opportunities for product discovery across all channels.

NMG Discloses Annual General & Special Meeting Voting Results and Obtains Industry Recognition
NMG Discloses Annual General & Special Meeting Voting Results and Obtains Industry Recognition

Business Wire

time17-06-2025

  • Business
  • Business Wire

NMG Discloses Annual General & Special Meeting Voting Results and Obtains Industry Recognition

MONTRÉAL--(BUSINESS WIRE)--Nouveau Monde Graphite Inc. ('NMG' or the 'Company') (NYSE: NMG, TSX: NOU) held today its virtual Annual General and Special Meeting of Shareholders (the 'Meeting') which was supplemented with a corporate presentation on market perspectives and the Company's progress toward bringing its Phase-2 Matawinie Mine and Bécancour Battery Material Plant to final investment decision ('FID'). Arne H Frandsen, former Chair of NMG, announced: 'These are exciting and dynamic times, with Western economies reshaping their trade, economic development, energy, and defense agendas. NMG is well positioned, in a stable and recognized jurisdiction, to market its turnkey source of active anode material to manufacturers and governments hungry for minerals. I am delighted to see Daniel stepping up to lead the Board for this next chapter at NMG, best of success to Team Nouveau Monde!' Eric Desaulniers, Founder, President, and CEO of NMG, declared: 'While current geopolitics are challenging market conditions, we see continued growth in electric vehicles ('EVs') sales and deployment of energy storage systems for renewable power and data centers across the world. We maintain active engagement with our customers and targeted financial stakeholders to define and strengthen the commercial and financing framework of our integrated Phase-2 projects. And to guide our Company's next phase of development and growth, we welcome to the Board newly appointed experienced executives as Directors; bienvenue Paola and Judith! I take this opportunity to thank again our long-time investor Pallinghurst for their instrumental support over the years, as well as Jamie Scarlett for his contribution to the Company's sound governance.' Daniel Buron, new Chair of NMG, stated: 'I am happy to transition from Lead Independent Director to Chair of NMG to steer the Company amid this period of complex changes as we prepare for FID. I would like to also extend my appreciation to Arne, Andrew and Jamie for their guidance and contribution to the Board.' Matters Voted upon at the Meeting and Results Each of the seven nominees listed in the Company's management information circular dated May 14, 2025, provided in connection with the Meeting were appointed as Directors of the Company. Shareholders also adopted all other resolutions submitted for their approval, including the appointment of PricewaterhouseCoopers LLP as the auditors of the Company to hold office until the close of the next annual meeting of the Company and the authority given to directors to set its compensation; the ratification and confirmation of the Company's omnibus plan, as amended at the Meeting by the shareholders; as well as the approval of stock options granted to directors, officers and employees. The complete voting results for each item of business are as follows: ELECTION OF DIRECTORS APPOINTMENT AND COMPENSATION OF PRICEWATERHOUSE COOPERS LLP AS AUDITOR Votes in Favor % Votes in Favor Votes Withheld % Votes Withheld 113,460,899 99.92% 93,445 0.08% Expand AMENDMENT OF THE PROPOSED RESOLUTION ON THE OMNIBUS PLAN OF THE COMPANY Votes in Favor % Votes in Favor Votes Against % Votes Against 113,460,899 99.99% 300 0.01% Expand RATIFICATION AND CONFIRMATION OF THE COMPANY'S OMNIBUS PLAN, AS AMENDED AT THE MEETING BY THE SHAREHOLDERS Votes in Favor % Votes in Favor Votes Against % Votes Against 108,117,493 98.94% 1,154,631 1.06% Expand APPROVAL OF STOCK OPTIONS GRANTED TO DIRECTORS, OFFICERS AND EMPLOYEES Details of the voting results on all matters considered at the Meeting are available in the Company's report of voting results, which is available under NMG's profile on SEDAR+ at and on EDGAR at Industry Recognition Fastmarkets, a leading cross-commodity price reporting agency in the metals and mining market, has nominated NMG for three Voltas Awards: Best New Project for the Matawinie Mine, set to supply the North American battery-to-EV supply chain with 106,000 tpa of graphite concentrate. Innovation of the Year for the Company's hydroelectricity-powered, traceable ore-to-battery-material value chain at the future Phase-2 Matawinie Mine and Bécancour Battery Material Plant. Leader of the Year for Eric Desaulniers, in recognition of his visionary development of an integrated and ESG-aligned value chain, from ore to active anode material, backed by strategic partnerships with OEMs. The awards are to be announced at Fastmarkets' Lithium Supply and Battery Raw Materials Conference 2025, to be held next week in Las Vegas. About Nouveau Monde Graphite Nouveau Monde Graphite is an integrated company developing responsible mining and advanced processing operations to supply the global economy with carbon-neutral active anode material to power EV and renewable energy storage systems. The Company is developing a fully integrated ore-to-battery-material source of graphite-based active anode material in Québec, Canada. With recognized ESG standards and structuring partnerships with anchor customers, NMG is set to become a strategic supplier to the world's leading lithium-ion battery and EV manufacturers, providing advanced materials while promoting sustainability and supply chain traceability. Subscribe to our news feed: Cautionary Note Regarding Forward-Looking Information This press release contains 'forward-looking information' and 'forward-looking statements' within the meaning of applicable securities legislation (collectively, 'forward-looking statements'), including, but not limited to, the Company's ability to secure its project financing and to secure a positive FID, the completion of the Phase-2 Matawinie Mine and Bécancour Battery Material Plant, and those statements which are discussed under the 'About Nouveau Monde' paragraph and elsewhere in the press release which essentially describe the Company's outlook and objectives. Forward-looking statements are based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions are not guarantees of future performance and may prove to be incorrect. Moreover, these forward-looking statements are based upon various underlying factors and assumptions, including the business relationship between the Company and its stakeholders, the ability to obtain sufficient financing for the development of the Matawinie Mine and the Bécancour Battery Material Plant, the Company's ability to satisfy the due diligence processes of the stakeholders, and are not guarantees of future performance. Forward-looking statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking statements. Risk factors that could cause actual results or events to differ materially from current expectations include, among others, availability financing or financing on favorable terms for the Company, delays in the reaching FID, and general economic conditions, as well as earnings, capital expenditure, cash flow and capital structure risks and general business risks. A further description of risks and uncertainties can be found in NMG's Annual Information Form dated March 31, 2025, including in the section thereof captioned 'Risk Factors', which is available on SEDAR+ at and on EDGAR at Unpredictable or unknown factors not discussed in this Cautionary Note could also have material adverse effects on forward-looking statements. Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. The Company disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.

NMG receives LOIs for more than C$1bn in project debt financing
NMG receives LOIs for more than C$1bn in project debt financing

Yahoo

time13-06-2025

  • Business
  • Yahoo

NMG receives LOIs for more than C$1bn in project debt financing

Nouveau Monde Graphite (NMG) has received letters of interest (LOIs) for more than C$1bn ($731.3m) in project debt financing to fund the company's phase-two Matawinie Mine and Bécancour Battery Material Plant in Québec, Canada. The financing structure is expected to include contributions from syndicate institutional funds and export credit agencies. The company's updated feasibility study, released earlier this year, confirmed the technical and economic viability of its integrated graphite projects, boasting an after-tax internal rate of return of 17.5% and a net present value of C$1.05bn. With this foundation, NMG is moving towards a final investment decision (FID) for phase two of its operations. Export Development Canada (EDC) has expressed interest in providing up to C$430m. The Export–Import Bank of the United States has also issued an LOI for $172m under its Supply Chain Resiliency Initiative (SCRI). The SCRI is designed to diversify US supply chains, reduce dependency on China, and bolster US national and economic security while creating US jobs. Additionally, more than $481m in potential support has been indicated by undisclosed parties. While details remain confidential, these discussions underscore the strategic and economic importance of NMG's project. NMG founder, president and CEO Eric Desaulniers said: 'We have been extremely busy in the past weeks to present the results of our Updated Feasibility Study and engage with our financial stakeholders to advance our project financing. Feedback has been positive as demonstrated by the quality of lenders rallying behind our business plan. 'Economies around the world are seeking opportunities to relocate and secure critical minerals mining and processing to enable local manufacturing, economic resilience, energy autonomy and national security.' NMG is actively engaging with various governmental bodies and public institutions to finalise the overall debt funding package. The anticipated debt structure is in line with NMG's financing projections and contemplates long-term debt or guarantees with a maturity beyond ten years. The non-binding LOIs are a precursor to finalising a term sheet and are part of a broader financing strategy that includes equity financing and fulfilling conditions precedent. While negotiations continue, there is no certainty that final agreements will be reached or that funding will be secured. Specialised advisory firms are conducting due diligence to assess corporate, technical, market and environmental, social and governance aspects of the phase-two operations. The results of this due diligence will inform the structuring of legal documentation and the project debt package before the investment committee reviews. NMG is also preparing for an FID by advancing technical documentation, negotiating supplier contracts and preparing for construction tenders. In December last year, NMG received $50m in equity investment from the Canada Growth Fund and the Government of Québec, through Investissement Québec, to support its graphite operations. "NMG receives LOIs for more than C$1bn in project debt financing" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

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