Northern Graphite Enters Agreement to Select a Site for Construction of North America's Largest Battery Anode Material Plant
Northern Graphite Enters Agreement to Select
a Site for Construction of North America's
Largest Battery Anode Material Plant
Ottawa, Ontario--(Newsfile Corp. - January 10, 2023) - Northern Graphite Corporation
(TSXV: NGC)
(OTCQB:
NGPHF)
(FSE: 0NG) (XSTU: 0NG)
(the "
Company
" or "
Northern
") announces that it has
entered into an agreement with Innovation et Development Manicouagan ("IDM") at Baie-Comeau,
Quebec to evaluate sites for the construction of a planned 200,000 tonnes per year ("tpy") battery anode
material ("BAM") plant in the industrial port zone of Baie-Comeau.
The plant would be one of the largest
in the world and would convert graphite concentrate from the Company's mines, as well as other
producers, into anode material to supply existing and planned lithium-ion battery manufacturing plants
throughout North America. Building a low-cost, large-scale conversion facility is a key component of
Northern's strategy to empower the electric vehicle industry by creating an end-to-end North American
graphite supply chain from the mine to the battery.
Hugues Jacquemin, Northern's CEO commented that, "Downstream processing is capital and energy
intensive. It makes little sense for every graphite mine to develop its own capability. Northern intends to
build a large-scale center of excellence based on our own production, but the participation of other
graphite producers will be welcomed."
He added, "The supply picture for natural graphite is marked by a
significant dependence on China for both graphite mine production and downstream processing. Our
proposed plant would solve both issues on an industry-wide scale by providing OEMs and battery
makers with a transparent, ESG compliant supply of anode material to meet current and projected
demand."
Pursuant to the agreement, Northern has a 12-month period to evaluate several sites around Baie-
Comeau to determine their technical and economic suitability for the proposed BAM plant. The sites
range between 200,000 and 450,000m
2
in size and have direct rail and port access as well as green
hydroelectric power that would result in one of the lowest CO
2
footprints in the industry. Quebec's
industrial rate for large power customers is one of the most competitive in the world.
Baie-Comeau is
located 400km from Quebec City in the Cote-Nord economic region and has direct rail and road access
to the rest of North America as well as a deep water, all season port. It is eligible for Plan Nord
incentives and other assistance is potentially available under programs offered by the Manicouagan
region, the province of Quebec and the Canadian and US Governments. Construction of the proposed
battery plant would be subject to identification and acquisition of an appropriate site, receipt of
regulatory approvals and financing.
Marcel Furlong, Prefect of the Manicouagan Regional County Municipality (RCM), commented that, "The
Baie-Comeau industrial port area has a lot of space, as well as numerous energy and logistical
resources, thus facilitating the establishment of a project in the battery and anode material industry. The
Manicouagan RCM was also recognized by UNESCO in 2007 as the 14th and largest World Biosphere
Reserve in Canada. For the past 15 years, the region has been able to develop relations with various
stakeholders in its territory, facilitating dialogue with businesses and allowing the development of
important industrial projects such as the one proposed by Northern Graphite. We can only welcome this
collaborative agreement and commit ourselves with confidence to the success of the BAM project in our
territory."
Manicouagan-Uapishka World Biosphere Reserve Territory
To view an enhanced version of this graphic, please visit:
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.
About Northern Graphite
Northern is a Canadian, TSX Venture Exchange listed company that is focused on becoming a world
leader in producing natural graphite and upgrading it into high value products critical to the green
economy including anode material for lithium ion batteries/EVs, fuel cells and graphene, as well as
advanced industrial technologies.
Northern is the only significant graphite producing company in North America and will become the third
largest outside of China when its Namibian operations come back online.
The Company also has two
large scale development projects, Bissett Creek in Ontario and Okanjande in Namibia, that will be a
source of continued production growth in the future.
All projects have "battery quality" graphite and are
located close to infrastructure in politically stable countries.
For additional information
Please visit the Company's website at
http://www.northerngraphite.com/investors/presentation/
, the
Company's profile on
www.sedar.com
, our
Social Channels
listed below or
contact the Company at
(613) 271-2124.
YouTube
Cautionary Note Regarding Forward-Looking Statements
This news release contains certain "forward-looking statements" within the meaning of applicable
Canadian securities laws. Forward-looking statements and information are frequently characterized by
words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "potential",
"possible" and other similar words, or statements that certain events or conditions "may", "will",
"could", or "should" occur. Forward-looking statements in this release include statements regarding,
among others, the Company's intentions with respect to the planned construction of a battery anode
material processing plant, bringing its Namibian operations back on line, advancing its developments
projects to production, and developing the capacity to manufacture value added products. All such
forward-looking statements are based on assumptions and analyses made by management based on
their experience and perception of historical trends, current conditions and expected future
developments, as well as other factors they believe are appropriate in the circumstances. However,
these statements are subject to a variety of risks and uncertainties and other factors that could cause
actual events or results to differ materially from those projected including, but not limited to
unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the
failure of other parties to perform as agreed; social or labour unrest; changes in commodity prices;
unexpected failure or inadequacy of infrastructure and the failure of ongoing and contemplated
studies to deliver anticipated results or results that would justify and support continued studies,
development or operations; and the availability of adequate financial resources. Readers are
cautioned not to place undue reliance on forward-looking information or statements.
Although the forward-looking statements contained in this news release are based on what
management believes are reasonable assumptions, the Company cannot assure investors that
actual results will be consistent with them. These forward-looking statements are made as of the date
of this news release and are expressly qualified in their entirety by this cautionary statement. Subject
to applicable securities laws, the Company does not assume any obligation to update or revise the
forward-looking statements contained herein to reflect events or circumstances occurring after the
date of this news release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
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