business / news / / The Globe and Mail
Italian energy giant Eni SpA E-N is taking a minority stake in Canadian graphite producer Nouveau Monde Graphite Inc.
Eni SpA is acquiring an 11.5% stake in Nouveau Monde Graphite for US$70 million.
KEY POINTS
- Eni will gain a board seat and is negotiating a future graphite supply agreement with Nouveau Monde.
- Nouveau Monde's US$297-million capital raise includes major investments from the Canada Growth Fund and Quebec government.
- Combined new financing and existing debt should fully fund construction of the Matawinie graphite mine.
- A final investment decision on the Matawinie mine is expected in May, with operations targeted for 2028.
COMPANIES
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