NextSource Materials Announces First Production of SuperFlake Graphite at Molo Mine in Madagascar

NextSource Materials Announces First Production of SuperFlake Graphite at Molo Mine in Madagascar

NextSource Materials Inc. (TSX:NEXT)(OTCQB:NSRCF) ("NextSource" or the "Company") is pleased to announce the first production of SuperFlake® graphite concentrate at its Molo mine in Madagascar

President and CEO, Craig Scherba, commented:

"First production of our SuperFlake® graphite is a significant achievement for NextSource and a testament to the dedication and hard work of our commissioning and operations teams, our employees and contractors, as well as the ongoing support that we have received from the local community and government. As we ramp up the production stage of operations, the Company is in the enviable position of transitioning into a significant and sustainable global producer of high-quality graphite and anode material just as demand for their use in lithium-ion batteries is growing exponentially."

NextSource Materials Inc., Thursday, June 22, 2023, Press release picture
Molo mine workforce alongside first tonne of SuperFlake® graphite concentrate

As part of the commissioning and optimization of the processing plant, the commissioning sequence was prioritized for initial production of coarse flake concentrate, with the first tonne of production consisting of +48 mesh (jumbo size) SuperFlake® graphite.

Since initiation of plant commissioning on March 23, 2023, the commissioning and operations teams have progressed methodically through debottlenecking and optimization activities. The operations team will now shift their focus to ramping up the plant throughput to its nameplate capacity of 17,000 tonnes per annum.

The Company expects to sell all the flake graphite produced at the Molo Graphite Mine to key customers under existing offtake agreements, which includes Germany's thyssenkrupp Materials Trading GmbH and the Company's Japanese technical partner, whom is the main supplier of value-added graphite to Japan's largest anode processor that in turn supplies multiple Japanese and international OEMs with graphite anode material.

The Company continues to be engaged in advanced discussions with several major EV companies (OEMs) and has received requests for multi-tonne samples of battery anode material as part of the OEMs qualification process. As such, the Company will begin sending flake graphite qualifying material to its Battery Anode Facility (BAF) technical partners for conversion into coated, spheronized, purified graphite ("CSPG"), which is the final form of anode material that is assembled along with cathode material into finished lithium-ion batteries used in electric vehicle ("EV") applications.

Mauritius Battery Anode Facility and Global BAF Strategy

The Company announced on February 28, 2023 its strategy for the staged buildout of a series of BAFs in key geographic locations. The BAFs are value-added processing facilities that convert flake graphite into CSPG.

BAF Strategy Highlights:

  • Plans to construct multiple BAFs capable of producing CSPG anode material for use in lithium-ion batteries for EV applications in key jurisdictions. The BAF designs will leverage the Company's exclusive partnership with two leading value-added graphite processors and use their proprietary and well-established graphite anode processing technology, which currently produces CSPG for the supply chains of major OEMs, including Tesla and Toyota.
  • The first BAF will be in Mauritius (the "Mauritius BAF"), which was selected due to its proximity to the Molo Graphite Mine in Madagascar and its position on strategic shipping routes to Asian markets.
  • A long-term industrial lease has been signed to build the Mauritius BAF within an exisiting industrial facility in Port Louis, Mauritius. The BAF site location is also classified as an Industrial Freeport, with a 3% corporate tax rate and 0% VAT.
  • A technical study for the Mauritius BAF with an initial production capacity of 3,600 tpa (Line 1) of CSPG (the "Mauritius BAF Technical Study") dated February 28, 2023 estimated initial capital costs and working capital investments of US$32.8 million and annual revenues at US$33.7 million with an EBITDA of US$13.2 million. The resulting post-tax economic results demonstrated an NPV of US$106.9 million using an 8% discount rate, an IRR of 42.7% and a payback of 2.2 years.
  • Adding 3 additional lines (Lines 2,3,4) to the Mauritius BAF for a total capacity of 14,400 tpa of CSPG demonstrated a total post-tax NPV8% of US$439.7m, incremental capex US$74m, IRR of 45.8%
  • Subject to obtaining necessary funding, completion of the front-end engineering and design (FEED) study, and completion of the environmental and social impact assessment (ESIA) process, the Company is targeting the start of a 12-month construction process in Q3 2023 resulting in potential initial production at the Mauritius BAF in Q3 2024.
  • Evaluation of the potential construction of a BAF in North America and initiation of the application process to access various financial loans and grants offered under Canadian federal and provincial programs and under the U.S. Inflation Reduction Act.
  • Evaluation of the potential construction of a BAF in the United Kingdom (UK) and initiation of the application process to access various financial loans and grants offered under the UK Government Automotive Transformation Fund.
  • Evaluation of the potential construction of a BAF in the European Union.
  • Evaluation and potential construction of an artificial graphite (AG) production facility, which would enable the Company to supply AG anode material along with natural flake-based anode material.

About NextSource Materials Inc.

NextSource Materials Inc. is a battery materials development company based in Toronto, Canada that is intent on becoming a vertically integrated global supplier of battery materials through the mining and value-added processing of graphite and other minerals.

The Company's Molo graphite project in Madagascar is one of the largest known and highest-quality graphite resources globally, and the only one with SuperFlake® graphite. The Molo mine has begun production, with Phase 1 mine operations currently being optimized to reach its nameplate production capacity of 17,000 tpa of graphite concentrate.

The Company is also developing a significant downstream graphite value-add business through the staged rollout of Battery Anode Facilities capable of large-scale production of coated, spheronized and purified graphite for direct delivery to battery and automotive customers, outside of existing Asian supply chains, in a fully transparent and traceable manner. The first of its Battery Anode Facilities will be located in Mauritius with initial production targeted in Q3 2024.

NextSource Materials is listed on the Toronto Stock Exchange (TSX) under the symbol "NEXT" and on the OTCQB under the symbol "NSRCF".

For further information about NextSource visit our website at www.nextsourcematerials.com or contact us at +1.416.364.4911 or email Brent Nykoliation, Executive Vice President at brent@nextsourcematerials.com or Craig Scherba, President & CEO at craig@nextsourcematerials.com.

Safe Harbour: This press release contains statements that may constitute "forward-looking information" or "forward-looking statements" within the meaning of applicable Canadian and United States securities legislation. Readers are cautioned not to place undue reliance on forward-looking information or statements. Forward looking statements and information are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "potential", "possible" and other similar words, or statements that certain events or conditions "may", "will", "could", or "should" occur. Forward-looking statements include any statements regarding, among others, timing of, and completion of, commissioning the processing plant, construction of the Solar Hybrid Battery System, and commissioning of the Molo mine, timing of construction and completion of the Mauritius BAF and proposed timing of future locations of additional BAFs, timing and completion of front-end engineering and design and ESIA permitting, the economic results of the BAF Technical Study including capital costs estimates, operating costs estimates, payback, NPV, IRR, production, sales pricing and working capital estimates, the construction and potential expansion of the BAFs, expansion plans, as well as the Company's intent on becoming a fully integrated global supplier of critical battery and technology materials. These statements are based on current expectations, estimates and assumptions that involve several risks, which could cause actual results to vary and, in some instances, to differ materially from those anticipated by the Company and described in the forward-looking statements contained in this press release. No assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do so, what benefits the Company will derive there from. The forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements, whether because of new information, future events or otherwise, except as may be required by applicable securities laws. Although the forward-looking statements contained in this news release are based on what management believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with them. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release.

SOURCE: NextSource Materials Inc.



View source version on accesswire.com:
https://www.accesswire.com/762947/NextSource-Materials-Announces-First-Production-of-SuperFlakeR-Graphite-at-Molo-Mine-in-Madagascar

News Provided by ACCESSWIRE via QuoteMedia

NEXT:CA
NextSource Materials

NextSource Materials Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
NextSource Materials

NextSource Materials


Keep reading...Show less

Molo Graphite Mine now in Production with Downstream Battery Anode Facility Not Far Behind

NextSource Materials Announces Results of 2024 Annual Meeting of Shareholders

NextSource Materials Announces Results of 2024 Annual Meeting of Shareholders

NextSource Materials Inc. (TSX:NEXT)(OTCQB:NSRCF) ("NextSource" or the "Company") is pleased to announce the results of the Annual Meeting of Shareholders of the Company (the "Meeting") held virtually at 9:00 AM (Toronto time) on December 5, 2024

AGM Results
The final voting results of the Meeting are set out below:

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
NextSource Materials Closes Final Tranche of Private Placement for Additional Gross Proceeds of CAD$720,800

NextSource Materials Closes Final Tranche of Private Placement for Additional Gross Proceeds of CAD$720,800

Not for distribution to U.S. news wire services or for dissemination in the United States or to a U.S. Person.

NextSource Materials Inc. (TSX:NEXT)(OTCQB:NSRCF) ("NextSource" or the "Company") announces it has closed a second and final tranche of its previously announced non-brokered private placement offering, issuing an additional 1,360,000 common shares of the Company ("Shares") at a price of CAD$0.53 per Share for aggregate gross proceeds of CAD$720,800 (the "Offering

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
NextSource Materials Welcomes New President and CEO Hanré Rossouw to Deliver Next Phase of Growth

NextSource Materials Welcomes New President and CEO Hanré Rossouw to Deliver Next Phase of Growth

NextSource Materials Inc. (TSX:NEXT)(OTCQB:NSRCF) ("NextSource" or the "Company") confirms, further to the announcement on 28th May 2024, Hanré Rossouw has officially begun his role as President and CEO. His tenure begins in Madagascar, where he will visit the Molo graphite mine operations as well as engage with the community and government as part of a structured leadership transition plan

Also effective today, the former President and CEO, Craig Scherba, will continue as a Director and transition to the newly created role of Chief Development Officer to focus on developing strategy, managing offtake negotiations and expanding the Company's OEM relationships globally.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
NextSource Materials Completes First Commercial Shipments of Graphite Concentrate to Germany and USA

NextSource Materials Completes First Commercial Shipments of Graphite Concentrate to Germany and USA

NextSource Materials Inc. (TSX:NEXT)(OTCQB:NSRCF) ("NextSource" or "the Company") is pleased to announce it has completed its first commercial shipments of SuperFlake® graphite concentrate from its Molo Graphite Mine (the "Molo mine") in southern Madagascar

Full container loads of high-quality, coarse flake graphite concentrate were exported from the Port of Tulear, Madagascar to Germany and to the United States of America (USA) under existing offtake agreements. These initial container shipments of SuperFlake® graphite are destined for key demand markets for higher value graphite products, including refractory materials and graphite foils for consumer electronics and fire-retardant applications.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
NextSource Materials Closes Private Placement for Gross Proceeds of CAD$14.7 Million

NextSource Materials Closes Private Placement for Gross Proceeds of CAD$14.7 Million

Not for distribution to U.S. news wire services or for dissemination in the United States or to a U.S. Person.

NextSource Materials Inc. (TSX:NEXT)(OTCQB:NSRCF) ("NextSource" or the "Company") announces it has closed a non-brokered private placement offering of 27,728,100 common shares of the Company ("Shares") at a price of CAD$0.53 per Share for aggregate gross proceeds of CAD$14,695,893 (the "Offering

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Altech Batteries Ltd  Comprehensive Review of Operations and Half Year Report

Altech Batteries Ltd Comprehensive Review of Operations and Half Year Report

Perth, Australia (ABN Newswire) - Altech Batteries Ltd (ASX:ATC) (FRA:A3Y) (OTCMKTS:ALTHF) is pleased to present a comprehensive review of its operations for the six months ending 31 December 2024. This period has been marked by significant achievements and strategic advancements across various facets of the Company.

CERENERGY(R) Salt Battery Project:

Altech announced that its first CERENERGY(R) ABS60 battery prototype is online and operating successfully. The completed battery unit has passed all physical tests with flying colours. The prototype was installed at Altech's joint venture partner Fraunhofer IKTS' test laboratory in Dresden, Germany, and integrated into a specially designed battery test station. This setup enables continuous daily charging and discharging cycles to assess the battery's efficiency, stability, and overall performance under real-world conditions.

Altech, through its Germany subsidiary Altech Batteries GmbH ("ABG"), announced the appointment of global big four professional services firm ("funding adviser") to assist in securing finance for the construction of Altech's 120MWh CERENERGY(R) battery manufacturing plant in Germany. The project's financing strategy is structured across three key areas: debt, equity, and grants.

These sources will cover not only the capital expenditures but also financing costs, working capital, debt service coverage, and an additional contingency for potential business interruptions.

Altech announced the execution of the first Offtake Letter of Intent between Zweckverband Industriepark Schwarze Pumpe (ZISP) and Altech Batteries GmbH. Under this Offtake Letter of Intent (LOI), ZISP will purchase 30MWh of energy storage capacity annually, consisting of 1MWh GridPacks, for the first five years of production. The price of these batteries has been agreed and aligned to Altech's Definitive Feasibility Study assumptions. The purchase of these batteries is subject to performance tests, battery specifications and the batteries meeting customer requirements. This offtake LOI constitutes an important aspect of the financing process.

Altech announced the execution of a second Offtake Letter of Intent between Referenzkraftwerk Lausitz GmbH (RefLau) and Altech Batteries GmbH. Reflau is a joint venture between utility companies Enertrag SE (Enerttag) and Energiequelle GmbH.

Under this Offtake Letter of Intent (LOI), RefLau will purchase 30 MWh of CERENERGY(R) energy storage capacity in the first year, then 32 MWh per year thereafter for the next four years of production. As part of the LOI, it was further agreed that Altech will purchase green electricity at competitive prices directly from the partners in the region for the planned production plant.

Altech announced the execution of a third offtake Heads of Agreement (HOA) between Axsol GmbH (Axsol) and Altech Batteries GmbH. Axsol is a leading, award-winning provider of integrated renewable energy solutions and is based in Germany. Axsol leverages its expertise in diverse battery technologies and systems, alongside specialised equipment, to seamlessly integrate solar, wind, hydrogen energy and fuel cell solutions. These advanced energy systems ensure safe and reliable energy supply across multiple industries. Altech has entered into an exclusive distribution agreement with Axsol to supply the western defence industry with CERENERGY(R) battery technology. As a certified supplier to NATO and select western allied forces, Axsol's involvement will streamline qualification procedures, enabling early market entry and sales of CERENERGY(R) batteries. These highly robust, durable and non-flammable batteries are ideally suited for defence applications and government agencies.

Silumina AnodesTM Battery Materials Project:

Altech achieved a remarkable milestone in its Silumina AnodesTM battery material technology. The Company announced an average 55% surge in lithium battery anode energy capacity, marking a significant breakthrough. By utilising its innovative proprietary technology, Altech has now improved on the previous 30% energy increase, by blending alumina-coated silicon particles (10%) with battery-grade graphite, to create a composite graphite/silicon anode for the lithium-ion battery electrode.

Upon activation, this composite material has now exhibited a remarkable 55% increase in capacity compared to the traditional graphite-only anode material.

Update of High Purity Alumina Project

Stage 1 and Stage 2 construction of the Johor HPA plant is completed. The project is currently on care and maintenance.

*To view the full report, please visit:
https://abnnewswire.net/lnk/54726BT2



About Altech Batteries Ltd:  

Altech Batteries Limited (ASX:ATC) (FRA:A3Y) is a specialty battery technology company that has a joint venture agreement with world leading German battery institute Fraunhofer IKTS ("Fraunhofer") to commercialise the revolutionary CERENERGY(R) Sodium Alumina Solid State (SAS) Battery. CERENERGY(R) batteries are the game-changing alternative to lithium-ion batteries. CERENERGY(R) batteries are fire and explosion-proof; have a life span of more than 15 years and operate in extreme cold and desert climates. The battery technology uses table salt and is lithium-free; cobalt-free; graphite-free; and copper-free, eliminating exposure to critical metal price rises and supply chain concerns.

The joint venture is commercialising its CERENERGY(R) battery, with plans to construct a 100MWh production facility on Altech's land in Saxony, Germany. The facility intends to produce CERENERGY(R) battery modules to provide grid storage solutions to the market.

News Provided by ABN Newswire via QuoteMedia

Keep reading...Show less
New Lithium Targets in Eastern Greenland Identified by Brunswick Exploration

New Lithium Targets in Eastern Greenland Identified by Brunswick Exploration

Brunswick Exploration Inc. (TSX-V: BRW, OTCQB: BRWXF; FRANKFURT:1XQ; " BRW " or the " Company ") is pleased to announce that, as compilation work by the BRW team continues, it has identified new high potential areas in Greenland and has proceeded to immediately apply for a mineral license covering these targets. BRW is the only company delineating the lithium potential of the country.

Mr. Killian Charles, President and CEO of BRW, commented: "I am particularly pleased to continue expanding our portfolio in a country which has significant untapped exploration potential. Our Greenland lithium portfolio benefits from cost-effective exploration programs with little to no overburden, allowing for rapid testing similar to our first Greenlandic lithium discovery in late 2024.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Vanadiumcorp Approved to Settle Debt for Shares

Vanadiumcorp Approved to Settle Debt for Shares

(TheNewswire)

VanadiumCorp Resource Inc.

Vancouver, British Columbia TheNewswire 1 2 March 2025 VanadiumCorp Resource Inc. (TSX-V: VRB) (FSE: NWNA) (OTC: VRBFF) ("VanadiumCorp" or the "Company"), further to its February 19, 2025 news release the Company is pleased to announced that it has received approval from the TSX Venture Exchange to settle $74,174.59 of debt by issuing 593,397 $0.125 common shares of the Company.  The Company has now issued 595,397 $0.125 common shares to various creditors.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
AMERICAN SALARS LITHIUM PORTFOLIO HEDGED AMID TRUMP TARIFF CONCERNS

AMERICAN SALARS LITHIUM PORTFOLIO HEDGED AMID TRUMP TARIFF CONCERNS

(TheNewswire)

American Salars Lithium Inc

VANCOUVER, BC TheNewswire - MARCH 12 th 2025 American Salars Lithium Inc. ("AMERICAN SALARS" OR THE "COMPANY") (CSE: USLI, OTC: USLIF, FWB: Z3P, WKN: A3E2NY ) states its commitment to strengthening the United States lithium supply, a critical mineral essential for electric vehicles, energy storage, and advanced manufacturing. As demand for domestic lithium sources grows, securing reliable resources is vital for the nation's clean energy and technology future. With the potential for new tariffs on lithium imports under the Trump administration, American Salars has positioned itself to secure a stable, tariff-free lithium supply through its Black Rock South Lithium Project in Nevada.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
NextSource Materials

NextSource Materials Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×