Jun 19 2015
Mason Graphite Inc. ("Mason Graphite" or "the Company"), is pleased to announce that it has selected the site for its proposed graphite processing plant, thus achieving an important milestone in the development of its Lac Gueret graphite project located 300 kilometres north of Baie-Comeau, Quebec. The land acquisition is subject to various conditions including, among others, obtaining the requisite approvals and permits and the construction financing.
The Company has selected the Jean-Noël Tessier Industrial Park in Baie-Comeau for the location of the proposed processing plant, which is estimated to provide 50,000 tons of graphite concentrate per year. The site is governed by a Memorandum of Understanding ratified with Baie-Comeau Development Corporation (la Société d'expansion de Baie-Comeau) and the City of Baie-Comeau, which will provide Mason Graphite, among other benefits, a declining property tax credit over 5 years and a commitment of the City to conduct the work necessary to allow the plant to connect to the City's infrastructure. The site infrastructure is expected to include a processing plant, maintenance buildings, offices and a tailings pond. Management estimates that operations at the plant will require approximately 70 people, in addition to approximately 10 positions needed at the extraction site. Construction of the facilities is expected to take place in 2016.
The process employed to identify the site included a rigorous analysis by the Mason Graphite team, including environmental, social and economic considerations. Benoît Gascon, President and CEO of Mason Graphite, explains, "It is fundamental for Mason Graphite to install the processing plant in this region in order to maximize the profitability of the project. The three sites that were studied all met this first essential criterion. Then we considered the minimal impact on the environment and the emission of greenhouse gases, the proximity of suppliers and subcontractors, the potential pool of local labor, the proximity of emergency services and construction and operation costs. We are very pleased with the selected site."
"It is important to us to build a long-term relationship with the Manicouagan Region, and we are focused on basing our business decisions on criteria that will support a smooth implementation of the project in the community", adds Benoît Gascon. The distribution of jobs and contracts for the completion of construction, maintenance and operation will be made to maximize the use of local resources available both in Pessamit and in other communities in Manicouagan. This will be maintained for the entire operating life of the Lac Gueret project.
The Company has launched a new sister website for the communities surrounding the Lac Guéret project. Please visit www.projetlacgueret.com for more information.
About Mason Graphite and the Lac Guéret Project
Mason Graphite is a Canadian mining company focused on the exploration and development of its 100% owned Lac Guéret natural graphite deposit located in northeastern Québec. The Company is led by a highly experienced team that has over five decades of experience in graphite production, sales, and research and development. For more information, visit www.masongraphite.com, or follow us on Twitter (@MasonGraphite) or Facebook (/MasonGraphite).