Nouveau Monde Graphite explores potential secondary listing on NYSE or Nasdaq

Canadian miner and battery chemicals developer Nouveau Monde Graphite is looking to make a secondary listing on the NYSE or the Nasdaq stock market in order to further enhance its presence in the US.

The TSXV-traded outfit is targeting another listing in the second quarter of the year, and has retained Evercore as its financial adviser to assist with the listing process.

Nouveau Monde aims to supply battery-grade graphite to the electric vehicle (EV) space from its Matawinie mine in Québec. According to P&S Intelligence, increasing demand for lithium-ion batteries will drive a CAGR of 7.4% in the global graphite market between 2020 and 2030.

“With several of the world’s leading automakers operating in the US, it is only logical that Nouveau Monde move to align its investor base with that of its targeted customers,” said the firm’s chair Arne Frandsen. “If a listing is obtained, Nouveau Monde is likely to be one of the largest battery grade graphite companies listed in the US.”

The Matawinie mine is set to be the Western world’s largest graphite mine, with production capabilities of 100,000 tonnes per annum of graphite material.

“With our strategic use of hydroelectricity and plans to rely on a fully electrical mining fleet, Nouveau Monde is uniquely positioned to deliver a North American source of carbon-neutral graphite-based material solutions for the growing lithium-ion and fuel cell markets, with full-scale commercial production targeted for 2023,” CEO Eric Desaulniers added.