Canada invests in Northern Graphite Lac-des-Îles expansion

The Government of Canada is investing $6,225,000 to support Graphite Nordique’s Lac-des-Îles expansion project, announced by the Honourable Mélanie Joly and the Honourable Tim Hodgson.

• Main announcement: The Government of Canada, via Natural Resources Canada (NRCan) and delivered by Canada Economic Development for Quebec Regions (CED), is providing $6,225,000 as an interest- and collateral-free repayable contribution under CED’s Regional Economic Growth through Innovation (REGI) program to support Graphite Nordique’s Lac-des-Îles expansion; the funding is intended to extend the mine’s life by 7–10 years, maintain ~20,000 tonnes/year domestic graphite production, and stabilize 55 existing jobs.
• Background and details: The announcement links to the federal Canadian Critical Minerals Strategy (backed by $3.8 billion, led by NRCan); the release notes graphite’s uses in lithium-ion batteries, semiconductors, electronics, solar and wind technologies, and defence. Northern Graphite Corporation (public; NGC:TSX-V, NGPHF:OTCQB, FRA:0NG, XSTU:0NG) owns the Lac-des-Îles mine, which is operated by its wholly-owned subsidiary Graphite Nordique Inc. in Saint-Aimé-du-Lac-des-Îles, Quebec.