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Northern Graphite signs land deal for Baie Comeau port property
An Ottawa-based graphite company, with a deposit between North Bay and Ottawa, is purchasing land on the St. Lawrence River to build a battery anode manufacturing plant. Northern Graphite, which holds with Bissett Creek deposit located off Highway 17, signed a letter of intent with the city of Baie Comeau, Que. to purchase a 300-acre brownfield property for US$1.2 million.
Subject to securing financing and government approvals, the company wants to build a hub processing capable of processing 200,000 tonnes a year for its three graphite properties in Ontario, Quebec and Namibia. The intent is to supply anode material to lithium-ion battery manufacturing plants throughout North America.
Northern Graphite holds three graphite projects, the Lac des Iles mine in Quebec, Bissett Creek, and the Okorusu processing plant and the Okanjande mine in Namibia.
Bissett Creek is a mine-ready project situated 17 kilometres off the Trans-Canada Highway. A feasibility study for an open-pit mine was completed on the property in 1989 but it was never developed due to a drop in graphite prices.
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