NextSource Materials’ EVP Talks Offtake Deal with German Steel Giant and Tesla Supply Chain
“We have a perfect bifurcation of offtake partners. We have a major German trading company that does the refractory side … On the battery side, we have a very strong relationship now with a notable Japanese company,” NextSource Materials Executive Vice President Brent Nykoliation said.
NextSource Materials (TSX:NEXT,OTCQB:NSRCF) Executive Vice President Brent Nykoliation talks about the company’s offtake agreement with thyssenkrupp Materials Trading for the sale of NextSource’s SuperFlake® graphite products.
“Our offtake agreement with Germany’s thyssenkrupp was a process that took over five to six years for us to actually establish, and it has turned now into one of our largest customers with a contract for 35,000 tonnes of graphite. This is great news for us because it shows validation of our product,” Nykoliation said.
NextSource entered into a 10 year binding commercial agreement for the sale of approximately 35,000 tonnes per annum of SuperFlake® graphite concentrate from the company’s Molo mine in Madagascar. The product will be for the refractory and expandable graphite (graphite foil) markets for sale in, but not limited to, Europe, the United Kingdom, North America, Mexico, China and South Korea. The newest collaboration follows NextSource’s recent deal with leading companies within the Tesla (NASDAQ:TSLA) supply chain.
“We have a perfect bifurcation of offtake partners. We have a major German trading company that does the refractory side, which by far still is the number one consumption for graphite today. On the battery side, we have a very strong relationship now with a notable Japanese company. And what’s even more important is they’re bringing us the development and processing know-how for major car companies and will be introduced into our facility,” added Nykoliation.
Watch the full interview with NextSource Executive Vice President Brent Nykoliation above.
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