Mason Graphite Selects Site for Proposed Graphite Processing Plant

Mason Graphite Inc. (TSXV:LLG) announced that it has selected the site for the proposed graphite processing plant for its Lac Gueret graphite project. The project is located 300 kilometers north of Baie-Comeau, Quebec.

As quoted in the press release:

The Company has selected the Jean-Noel 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 Societe 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.

Benoit Gascon, president and CEO of Mason Graphite, stated:

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.

Click here for the full Mason Graphite Inc. (TSXV:LLG) press release