Graphite Becoming An Essential Element in Lithium-Ion Batteries
NextSource Materials’ (TSX:NEXT, OTCQB:NSRCF) Molo graphite project in Madagascar was recently featured in Mining.com for its potential in the lithium-ion battery market.
Madagascar is beginning to emerge as a premiere mining jurisdiction for graphite, an essential element in the production of lithium-ion batteries. According to a recent article at Mining.com, the Ampanihy structure in Madagascar could be the next critical source of battery-grade graphite. Of the three major projects in the area, NextSource Materials‘ (TSX:NEXT, OTCQB:NSRCF) Molo Graphite deposit remains especially promising with an exploration target of 141.28 million tonnes at 6.13% total graphitic carbon (TGC).
In a recent interview with the Investing News Network, Managing Director at Benchmark Minerals Intelligence Sim Moores was especially bullish regarding graphite’s future.
“The order of graphite needed in these megafactories is in the millions of tonnes. At the moment, the anode space is about 165,000 tonnes per year but you’re going to need well over 1.6 million tonnes per year by 2030 if all these plans come on stream,” said Moores. In addition to NextSource Materials’ Molo project, BlackEarth Minerals (ASX: BEM) has also announced a 20-34 million tonne exploration target at its lanapera graphite project in Madagascar which is located only 10km north of Molo.
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