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The U.S. is reducing its dependence on Chinese metals by investing $240 million in Nouveau Monde Graphite (NMG) for a mine in Saint-Michel-des-Saints, set to open in 2029. This funding from the Export-Import Bank (EXIM) will help NMG operate the mine and establish a processing plant in Bécancour.

The Canadian government is contributing nearly $600 million, with an additional $650 million from private investors. NMG will produce 30,000 tons of graphite annually, with half allocated for Canada and the rest for G7 and NATO allies. While NMG highlights the defense applications of graphite, no agreements with defense firms have been established yet.