North American graphite producer Nothern Graphite has received a boost from the Canadian government to extend the life of its Lac des Îles(LDI) mine, located in Quebec. The company announced a repayable contribution of up to $6.225 million, without interest or guarantees, granted by the Canadian Economic Development Agency for the Regions of Quebec(CED) under the Regional Economic Growth through Innovation Program.
Canadian support for the Lac des Îles mine project
This funding will cover 75% of the eligible costs for the pit expansion, allowing Northern to maintain continuous graphite production at a critical time for the global energy transition. LDI currently produces 15,000 tons per year of graphite concentrate. graphite concentratewith installed capacity to reach 25,000 tons, supplying industrial sectors such as steel, electronics and automotive.
[post_relacionado]Northern Graphite is listed on theTSX Venture Exchange and has established itself as a strategic player in the green economy. In addition, its integrated approach is led by its Battery Materials Group, based in Frankfurt, which transforms natural graphite into high-value products such as anodes for lithium-ion batteries, fuel cells and graphene.
For its part, LDI, the company owns the Bissett Creek project in Ontario, which is in advanced stages, and the Okanjande mine in Namibia, which is currently under maintenance. All of its assets contain “battery-grade” graphite and are located in stable jurisdictions with access to critical infrastructure.
Northern plans to start work immediately, with first production from the new zones estimated in six to eight months. In the meantime, it will continue to process ore from the current pit and fill orders from inventory.
Source and photo: Nothern Graphite