- The Molo graphite project is a fully funded asset with rich resources and high-quality graphite. The deposit ranks as one of the largest-known and highest quality flake graphite deposits in the world.
- Vision Blue Resources committed a strategic investment into the Molo graphite project. Vision CEO Mick Davis invested approximately US$29.5 million over two private placement equities and a non-dilutive royalty agreement.
- The company’s Green Giant vanadium project is an advanced stage exploration project that is one of the world’s largest known vanadium deposits. The sediment-hosted geophysical profile presents NextSource with unique development and exploration potential.
- Mick Davis joined NextSource as chairman upon closing the first initial private placement. The mining heavyweight brings years of valuable experience in project development and financing expertise.
- NextSource secured US$29.5 million to fully fund Phase1 of the Molo Graphite Mine and fast track key technical studies.
- The Company has initiated the construction of Phase One of the mine. Construction will take approximately 12 months and mine commissioning is expected to begin in April 2022
- NextSource also secured a partnership with companies within the Tesla supply chain to build a battery anode facility and entered into a commercial partnership and offtake agreement with thyssenkrupp Materials Trading for the sale of 35,000 tonnes per annum of SuperFlake® graphite concentrate.
- On July 22, 2021, Nextsource has been accepted as a member of both the European Battery Alliance (EBA) and the European Raw Materials Alliance (ERMA).
NextSource Materials: Construction of Molo Graphite Mine is Fully Funded; Production in Q2 2022
Vision Blue Resources Ltd, a newly created battery commodity/resource-focused investment company founded by Sir Mick Davis (former CEO of Xstrata Plc), has made a significant strategic investment in NextSource Materials to fully fund the construction of its Molo graphite mine in Madagascar. Production is scheduled in Q2 2022.
According to UK’s Roskill Research, battery demand for raw material graphite is expected to grow by approximately 23 per year-over-year for the next decade. This dramatic spike in demand is due to graphite’s critical role as the anode material in lithium-ion batteries. Electric vehicle batteries contain between 40 to 60 kilograms of graphite. By volume, graphite is the largest raw material in a lithium-ion battery. As the electric vehicle market continues to grow, investing in the companies that produce these valuable battery materials and have first-mover advantage can provide significant value-creation and exposure to this expanding market.
NextSource Materials Inc. is a battery materials development company based in Toronto, Canada that is preparing to begin construction of its 100%-owned Molo Graphite Project in southern Madagascar. The Molo Graphite Project is a fully permitted and funded project that hold a large high quality flake graphite deposit and is the only project with SuperFlake® graphite.
The Company will utilise an all-modular build approach to constructing the Molo mine. Initial production is expected to be 17,000 tonnes per annum (“tpa”) over the first two years of production followed by mine expansion in Year three. Offtakes are in place for more than 100% of initial production.
Graphite in Madagascar is renowned for its quality and flake size. For almost a century, Madagascar has been exporting flake graphite to the world but only in small quantities. Molo, as well as its Green Giant vanadium project within close proximity, leverage mining-friendly conditions and resource-rich mineralization to prime the company for economic growth and production success.
For further information about NextSource visit our website at www.nextsourcematerials.com or contact us a +1.416.364.4911 or email Brent Nykoliation, Executive Vice President, Corporate Development at email@example.com or email Craig Scherba, President and CEO at firstname.lastname@example.org.