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Speaking to reporters at the mine, Carney said that no other G7 country has a mine that can produce as much graphite as the Matawinie site.

He also said that breaking ground on construction was a sign that Canada is getting its resources from mines to the market "at an unprecedented pace."

The Matawinie mine, located about 120 kilometres north of Montreal, is the latest infrastructure project to get fast-tracked by the Carney government through Canada’s Major Projects Office.

Carney said the mine could generate nearly $2 billion for Canada’s economy and create 1,000 jobs from skilled trades to engineering, while noting that graphite is a critical material needed for electric vehicle batteries as well as defence and aerospace technologies.

He added that he hoped to export Quebec’s graphite to trading partners in Asia and Europe like Japan and Italy. He said he had already spoken with Italian Prime Minister Giorgia Meloni about the partnership. 

“Non-U.S. exports are up sharply, and we’re on track to double them over the next decade,� Carney said. “We can supply the minerals and energy to countries battered by fears for their supply chains.�

The government said it is providing a $459 million financing package to support and speed up the project.

A battery material plant will be built in Bécancour, Que. to refine the extracted graphite. 

The federal government said it is committed to offering Nouveau Monde Graphite a guaranteed sales price for 30,000 tonnes per year for seven years from a list of customers in strategic, civil and military sectors.

According to the Prime Minister, the Nouveau Monde Graphite mining project was submitted to the Major Projects Office six months ago despite having operating permits since 2021.

Construction of the mine is expected to take two years and the company aims to reach full commercial production by the end of 2028.

While Carney and Nouveau Monde Graphite founder and CEO Eric Desaulniers said social acceptability and environmental protections are key for the project, some residents in the area worry about the mine’s impact on local forests, water and air quality. 

A coalition formed in 2016, Coalition des opposants à un projet minier en Haute-Matawinie, said it opposed the federal government's decision to fast-track the mining project last November.

Desaulniers said it’s “normal for residents to be concerned about a mining project of this scale� but assured that “we conducted very detailed impact studies on soil, water and air.� 

He said various government authorizations were required to proceed with the project, including an approval by Quebec in 2021.

The Chief of the Atikamekw Nation of Manawan, Sipi Flamand, was present at the announcement and said he supports the project.

This report by ¹ú²úÓÕ»ó¸£Àû was first published on May 19, 2026