Canadian Government Supports Lac des Îles Graphite Mine Extension

Northern Graphite Corporation has secured a $6.225 million interest-free repayable contribution from the Canadian government to extend the life of its Lac des Îles graphite mine in Quebec, North America's only operational graphite mine. This funding, covering 75% of eligible costs, aims to sustain production for an additional seven to ten years, preventing the mine from going into care and maintenance by the end of 2025. The investment supports Canada's critical minerals strategy by maintaining an annual domestic production of approximately 15,000 to 20,000 tonnes of graphite, a vital component for lithium-ion batteries, semiconductors, and defense applications. Northern Graphite plans to begin production from the new pit extension zones within 6-8 months and is seeking additional financing to cover remaining expansion costs. The federal support underscores Canada's commitment to strengthening its role in global critical minerals supply chains and advancing economic sovereignty through sustainable resource development. CEO Hugues Jacquemin emphasized the mine as central to Northern Graphite's growth strategy and Canada’s leadership ambitions in critical minerals.