Will help accelerate final investment decision for the Matawinie Mine
OTTAWA, ON and MONTREAL, March 17, 2026 /CNW/ - Export Development Canada (EDC) and the Canada Infrastructure Bank (CIB) have executed an agreement with Nouveau Monde Graphite Inc. (NMG) on a senior secured project debt facility of approximately CAD$459 million to support the next phase of the company's Matawinie Mine in Quebec.
The Matawinie Mine was referred to the federal Major Projects Office by Prime Minister Carney in November 2025. This nation building project aims to support economic growth, accelerate the development of an integrated value chain in Canada, and help G7 countries and allies secure critical minerals supplies.
Once financial close is achieved, the debt facility will enable the development, construction and commissioning of the graphite mine, reinforcing Canada's long term economic resilience in key growth sectors such as energy, defence, advanced technology and manufacturing.
EDC and the CIB are well positioned to help bridge project financing gaps, unlock opportunities to develop Canada's critical minerals infrastructure, and accelerate access to critical mineral resources and related supply chains.
The project's debt facility is subject to the satisfactory completion of customary conditions and the achievement of financial close by both parties.
Quotes
"EDC is pleased to lead this financing round in support of the Nouveau Monde Graphite project, reflecting our commitment to building a strong, end-to-end critical minerals ecosystem in Canada. Projects like the Matawinie Mine play a strategic role, by strengthening domestic supply chains, creating high-quality jobs, and positioning Canada as a trusted global supplier of critical minerals. This is a great example of how EDC is deploying strategic risk capital to support nation-building projects that strengthen Canada's economic resilience and advance the Government of Canada's vision for a secure, sustainable, and globally competitive critical minerals sector."
Alison Nankivell, President and CEO, EDC
"The CIB's commitment of a debt facility to Nouveau Monde Graphite will advance the next phase of the Matawinie Mine toward final investment decision and construction. The CIB works to bridge financing gaps and accelerate timelines in large-scale critical minerals projects which are essential to Canada's economic competitiveness."
Ehren Cory, CEO, Canada Infrastructure Bank
"Canada's critical minerals sector is key to building resilient supply chains and supporting the global transition to a low-carbon economy. By supporting projects like Nouveau Monde Graphite's Matawinie Mine, which is set to become the largest graphite mine in the G7, we are strengthening Canada's role as a reliable and stable partner in global critical mineral supply chains. This project will help grow Canadian exports, reinforce secure supply chains with our allies, and further position Canada as a global leader in responsibly produced critical minerals."
The Honourable Maninder Sidhu, Minister of International Trade
"Projects like this are key to building the infrastructure and supply chains Canada needs for the future. The Matawinie Mine will strengthen our critical minerals value chain, create good jobs, and support sustainable economic growth while helping Canada and its allies secure the materials needed for clean energy and advanced manufacturing. Through this agreement, we are helping move this important project forward and ensuring Canada remains a reliable partner in the global transition to a low-carbon economy."
The Honourable Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada
"Nouveau Monde Graphite's project is essential to accelerating the development of an integrated critical minerals value chain in Canada. By securing this long-term financing for Phase 2 of the Matawinie Mine, Nouveau Monde Graphite is helping strengthen a supply chain that is vital to our economic security, while supporting Canada and other G7 countries in sourcing critical minerals in a reliable and responsible way. With projects like this one, we are building a stronger and more prosperous Canada -- creating good jobs, advancing the energy transition and unlocking Canada's full economic potential."
The Honorable Dominic LeBlanc, President of the King's Privy Council for Canada, Minister of Internal Trade, and Minister responsible for Canada-U.S. Trade, Intergovernmental Affairs and One Canadian Economy
"Graphite underpins battery supply chains, advanced manufacturing, and the technologies that shape the modern economy. We are the only G7 nation currently producing it, and by bringing the Matawinie Mine online, we can create new jobs and strengthen Canada's role as a reliable supplier to our allies. The Government of Canada is helping move this project toward final investment decision and construction – just like we promised when we referred the project to the Major Projects Office. This is what execution looks like."
The Honourable Tim Hodgson, Minister of Energy and Natural Resources
"Quebec has everything it needs to be a leading player in the global battery supply chain: world-class resources, recognized industrial expertise, and regions ready to seize growth opportunities. By supporting projects like this one, our government is strengthening Canada's position in the critical minerals sector, creating quality jobs for our workers, and ensuring that our industries have a reliable supply to build the economy of tomorrow."
The Honourable Joël Lightbound, Minister of Government Transformation, Public Works and Procurement and Quebec Lieutenant
"Quebec offers the resource base, industrial capability, and project expertise needed to anchor globally competitive mining and critical minerals development. Today's announcement reflects the kind of strategic action our government is taking to create jobs and strengthen our economy and sovereignty, thanks to Quebec's role in critical supply chains."
Claude Guay, Parliamentary Secretary to the Minister of Energy and Natural Resources
"A defining milestone for the Matawinie Mine, this debt package with EDC and CIB reflects the depth of Canadian public finance expertise behind large, strategic infrastructure and critical minerals developments -- and it validates the bankability of our project. With detailed engineering well advanced, preparatory work executed, key permits secured, and agreements in place with the Atikamekw First Nation of Manawan and local community, Matawinie is shovel-ready and substantially derisked. Backed by long-term offtake arrangements and a disciplined financing structure, we are advancing with confidence toward final investment decision ("FID") and construction."
Eric Desaulniers, Founder, President and CEO, Nouveau Monde Graphite
About EDC
Export Development Canada (EDC) is a financial Crown corporation dedicated to helping Canadian businesses make an impact at home and abroad. EDC has the financial products and knowledge Canadian companies need to confidently enter new markets, reduce financial risk and grow their business as they go from local to global. Together, EDC and Canadian companies are building a more prosperous, stronger and sustainable economy for all Canadians. For more information and to learn how we can help your company, call us at 1-800-229-0575 or visit www.edc.ca.
About CIB
Established in 2017, The CIB is an impact investor developing the next generation of infrastructure Canadians need. We bring businesses, investors, Indigenous communities and governments together to help deliver outcomes like sustainable economic growth, connected communities and energy security and competitiveness. The CIB has invested more than $18B in 108 infrastructure projects, 11 of which are now complete and supporting economic growth and jobs nationwide. www.cib-bic.ca.
SOURCE Export Development Canada
Media Contacts: Media | Export Development Canada, 1-888-222-4065, [email protected]; Canada Infrastructure Bank, [email protected]
Share this article