Canada Carbon Inc. has taken the initial step in filing an application for the development of a graphite mine in Quebec. The publicly traded company, which is based in Vancouver, British Columbia, reported Wednesday that it has submitted an application to the Ministry of Energy and Natural Resources in Quebec.
The application is the first step in the process of obtaining approval for the Mont-Laurier Graphite Project, which is located in the Pontiac region of Quebec. The project, which is being undertaken by Canada Carbon in partnership with the local MRC Pontiac, is expected to create significant economic activity in the region.
The project, which is estimated to generate upwards of $200 million in revenue over its lifetime, is expected to produce more than 1.2 million tonnes of graphite. The graphite produced at the mine will be of a high quality, with a purity level of 99.9%, and is expected to be sold to a variety of industries, including automotive, aerospace, and energy storage.
In a statement, Canada Carbon CEO Gary Economo expressed his enthusiasm for the project and his belief that it would be beneficial for both the local community and the province of Quebec. “We are extremely pleased to have taken this first step towards the development of the Mont-Laurier Graphite Project. This project has the potential to create significant economic activity in the Pontiac region and the Province of Quebec, and we believe it will be an important contributor to the Canadian economy.”
The application process is expected to take several months, and will involve a thorough review of the project’s environmental and social impacts. If approved, the project could begin operations in late 2021 or early 2022.
Canada Carbon Inc. has made a major stride in the pursuit of its Mont-Laurier Graphite Project, having submitted an application to the Ministry of Energy and Natural Resources in Quebec. If accepted, the venture could generate up to $200 million in revenue, while producing more than 1.2 million tonnes of graphite of a purity level of 99.9%. CEO Gary Economo expressed confidence in the project and its potential to be an economic boon for the Pontiac region and the Province of Quebec. The application process is expected to take several months, with a possible start of operations in late 2021 or early 2022.
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