January 10, 2022
Nouveau Monde Graphite Inc. ("Nouveau Monde" or the "Company") ( NYSE: NMG , TSXV: NOU ) announces the appointment of Bernard Perron to the position of Chief Operating Officer starting Monday, January 17, 2022. Mr. Perron will oversee Nouveau Monde's engineering, procurement, construction, operations, as well as environmental, health and safety ("EH&S") management for its integrated mine-to-battery-material business model.
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Bernard Perron joins Nouveau Monde as Chief Operating Officer (Photo: Business Wire)
A senior executive with over 25 years of experience in the energy infrastructure sector, Perron has successfully completed over $8 billion in projects in the last ten years with industry-leading EH&S performance. Prior to joining Nouveau Monde, Mr. Perron acted as Senior Vice President, Project Development & Operations Services, at Inter Pipeline Ltd., where he led the construction of a $4.1 billion industrial complex and oversaw a team of over 450 employees. Mr. Perron cumulates hands-on project management experience for large facilities and infrastructure across Canada, Africa, and South America. He holds a Master in Business Administration from Queen's University and an Engineering Degree, Materials and Metallurgy from École Polytechnique de Montréal.
Eric Desaulniers, Founder, President, and CEO of Nouveau Monde, commented: "As the world transitions from fossil fuels to cleantech, I am delighted to see talented minds and skilled project managers come back to Québec, America's green battery preparing to power global electrification. Bernard will contribute his immense construction and operational expertise in sophisticated energy industrial settings to execute our vision for an advanced battery material production and a responsible mining complex. In ever-changing business and stakeholder landscapes, Bernard has delivered complex projects on schedule and on budget with an excellent EH&S track record; I am confident that he will support the next stage of our growth and elevate our practices. Bienvenue Bernard!"
Bernard Perron, COO of Nouveau Monde, reacted : "I am thrilled to be joining Nouveau Monde, a company that shares my values of safety, environmental stewardship, and community partnership. In leading strong teams and high-value capital projects, I have learned tremendously from hard-working individuals, highly technical developments, and quality-driven markets. I look forward to advancing Nouveau Monde's roadmap to drive the transition to a green future."
Mr. Perron's nomination coincides with Nouveau Monde's advancement to the execution of the phase-2 development of its Matawinie mining project for which early works started in 2021 and its Bécancour battery material plant, in respect of which work is underway to complete a feasibility study. Projected to be the largest and most advanced natural graphite operation in North America, Nouveau Monde is carrying out its de-risked phased development plan to build a localized, turn-key, and carbon-neutral alternative to Chinese supply.
About Nouveau Monde
Nouveau Monde is striving to become a key contributor to the sustainable energy revolution. The Company is working towards developing a fully integrated source of carbon-neutral battery anode material in Québec, Canada for the growing lithium-ion and fuel cell markets. With low-cost operations and enviable ESG standards, Nouveau Monde aspires to become a strategic supplier to the world's leading battery and automobile manufacturers, providing high-performing and reliable advanced materials while promoting sustainability and supply chain traceability. www.NMG.com
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Cautionary Note Regarding Forward-Looking Information
All statements, other than statements of historical fact, contained in this press release including, but not limited to those describing the positive impact of the foregoing on project economics, the development of the Company's phase-2 commercial operations, the completion of the Company's feasibility study, the Company's objective of becoming the largest and most advanced natural graphite operation in North America, the Company's intended carbon neutrality, cleantech trends, and those statements which are discussed under the "About Nouveau Monde" paragraph and elsewhere in the press release which essentially describe the Company's outlook and objectives, constitute "forward-looking information" or "forward-looking statements" within the meaning of certain securities laws, and are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Moreover, these forward-looking statements were based upon various underlying factors and assumptions, including the current technological trends, the business relationship between the Company and its stakeholders, the ability to operate in a safe and effective manner, the timely delivery and installation of the equipment supporting the production, the Company's business prospects and opportunities and estimates of the operational performance of the equipment, and are not guarantees of future performance.
Forward-looking information and statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking information and statements. Risk factors that could cause actual results or events to differ materially from current expectations include, among others, delays in the scheduled delivery times of the equipment, the ability of the Company to successfully implement its strategic initiatives and whether such strategic initiatives will yield the expected benefits, the availability of financing or financing on favorable terms for the Company, the dependence on commodity prices, the impact of inflation on costs, the risks of obtaining the necessary permits, the operating performance of the Company's assets and businesses, competitive factors in the graphite mining and production industry, changes in laws and regulations affecting the Company's businesses, political and social acceptability risk, environmental regulation risk, currency and exchange rate risk, technological developments, the impacts of the global COVID-19 pandemic and the governments' responses thereto, and general economic conditions, as well as earnings, capital expenditure, cash flow and capital structure risks and general business risks. Unpredictable or unknown factors not discussed in this Cautionary Note could also have material adverse effects on forward-looking statements.
Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. The Company disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Further information regarding the Company is available in the SEDAR database ( www.sedar.com ), and for United States readers on EDGAR ( www.sec.gov ), and on the Company's website at: www.NMG.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20220110005300/en/
Julie Paquet
VP Communications & ESG Strategy
+1-450-757-8905 #140
jpaquet@nmg.com
News Provided by Business Wire via QuoteMedia
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24 January 2020
Nouveau Monde Graphite Announces Historic Commitment to Upper Matawinie
The municipality of Saint-Michel-des-Saints and Nouveau Monde Graphite inc. (“Nouveau Monde” or “NMG”) (TSXV:NOU; OTCQX:NMGRF; Frankfurt:NM9) strengthened their social, economic and environmental development partnership with the signing of a collaboration and benefit-sharing agreement as part of the Matawinie mining project.
From the start of the exploration work, Nouveau Monde has demonstrated a strong commitment to the community through open dialogue and an intent to maximize spinoffs for Saint-Michel-des-Saints and Upper Matawinie. The cooperation and benefit-sharing agreement is therefore based on requests expressed by local stakeholders, on sustainable development principles, and on the agreement in principle reached in August 2018.
Through this new agreement, which will cover the mine’s entire commercial operating life, Nouveau Monde will contribute up to 2% of its net cash flow after taxes to the municipality to boost community spinoffs and reinvestment. An annual advance payment of $400,000 will help the municipality prepare and upgrade, if necessary, its infrastructure prior to the start of the mine’s operating period.
Through a liaison committee, which is complementary to the monitoring committee that will be established as per the Mining Act, the municipality will also have the chance to actively participate in shaping, implementing and monitoring the mining project.
“The municipality of Saint-Michel-des-Saints is proud to have reached this collaboration and benefit-sharing agreement with NMG. We are certain that it will benefit all citizens as well as future generations,” explained Réjean Gouin, Mayor of Saint-Michel-des-Saints.
Nouveau Monde will also contribute 1% of its net cash flow after taxes to a Community Fund for the Future to help stimulate developmental projects in Upper Matawinie that have a social, economic and environmental impact. The Fund will be administered by a trust organization and will promote things such as economic sustainability and community vitality beyond the mine’s operating period.
The most generous of its kind documented in Quebec, this bilateral agreement includes concrete actions in the areas of training, employability and business opportunities for the local population; the integration of the mining project into the territory through recreation and tourism development; and collaboration mechanisms to provide short-, medium- and long-term benefits for the community.
“Since the discovery of the deposit in 2015, Nouveau Monde has taken root in Saint-Michel-des-Saints. Our team is part of the Upper Matawinie community, which is where we live and work. This is our legacy for our children and future generations,” said Eric Desaulniers, President and CEO of Nouveau Monde. “We are proud to position the Matawinie project as a springboard for social and economic development in alignment with best environmental practices and ethical and responsible governance.”
ABOUT the Municipality of Saint-Michel-des-Saints
Saint-Michel-des-Saints is a Quebec municipality in the Matawinie Regional County Municipality in Lanaudière. It has a population of nearly 2,360 inhabitants. Throughout its history, the municipality’s economic activities have revolved around agriculture, forestry and recreational and tourism activities. The construction, transportation and warehousing, restaurant, and retail sectors have also contributed to its economic development and represent over half of the municipality’s companies.
ABOUT Nouveau Monde Graphite
Nouveau Monde Graphite is developing the Matawinie graphite mining project, located in Saint-Michel-des-Saints, 150 km north of Montréal, QC. At the end of 2018, the Company published a Feasibility Study which revealed strong economics with projected graphite concentrate production of 100,000 tonnes per year, with an average concentrate purity of 97%, over a 26-year period. Currently, Nouveau Monde operates a demonstration plant where it produces concentrated flake graphite, which is being sent to potential North American and international clients for the qualification of its products. In a perspective of vertical integration within the electrical vehicle market, Nouveau Monde is planning a large-scale secondary graphite transformation facility, catering to the needs of the booming lithium-ion battery industry. Dedicated to high standards of sustainability, the Matawinie graphite project will be the first of its kind to operate as an all-electric, low-carbon mine.
Media
Julie Paquet – Director, Communications
450-757-8905 #140 // jpaquet@nouveaumonde.ca
Investors
Christina Lalli – Director, Investor Relations
438-399-8665 // clalli@nouveaumonde.ca
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Cautionary Note Regarding Forward-Looking Information
All statements, other than statements of historical fact, contained in this press release including, but not limited to generally, or the “About Nouveau Monde Graphite” paragraph which essentially describe the Corporation’s outlook and objectives, constitute “forward-looking information” or “forward-looking statements” within the meaning of certain securities laws, and are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Corporation as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect.
Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management’s expectations and plans relating to the future. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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06 August
NextSource Pens Graphite Deal with Mitsubishi as US Tightens Grip on Sector
NextSource Materials (TSX:NEXT,OTCQB:NSRCF) announced that it has signed a multi-year offtake agreement with Mitsubishi Chemical Corporation (MCC), furthering its bid to become a vertically integrated graphite supplier for the North American electric vehicle (EV) market.
Under the agreement, NextSource will supply approximately 9,000 metric tons per year of intermediate anode active material (AAM) to MCC’s plant in Japan.
MCC, Japan’s largest chemical company and a key supplier to major auto manufacturers, will refine the material into finished AAM for EV battery production in North America.
“We are excited to have entered into a partnership with Mitsubishi Chemical Corporation through a binding offtake agreement for the production of active anode material in the Middle East,” said Hanré Rossouw, President and CEO of NextSource.
The timing is also strategic. The company is fast-tracking development of a large-scale Battery Anode Facility (BAF) in the United Arab Emirates to process its proprietary SuperFlake graphite concentrate from the Molo mine in Madagascar.
The facility will serve as the production hub for the MCC agreement, with initial shipments expected following a rigorous qualification process in 2026. The company said that equipment installations are already underway and a full-scale ramp-up is targeted for 2027.
In addition to processing and logistics, NextSource is preparing for a Phase 2 expansion of the Molo mine to ensure sufficient graphite feedstock. The Madagascar-based project, which began Phase 1 operations this year, is one of the world’s highest-quality graphite deposits and the only one producing SuperFlake graphite, according to the company.
NextSource says its long-term goal is to offer a fully traceable, scalable, and China-independent source of battery-grade anode material.
The company is also in advanced talks with strategic financing partners to fund construction of the BAF and Molo expansion. Technical and economic studies are underway to determine capital requirements and investment timing.
The agreement also comes amid tightening restrictions on Chinese battery materials. In July, the US Department of Commerce imposed a 93.5 percent anti-dumping duty on anode-grade graphite imports from China, adding to existing countervailing tariffs for a combined effective rate of around 160 percent.
The decision, prompted in part by complaints from the American Active Anode Material Producers (AAAMP), was designed to shield domestic producers from what they describe as unfairly priced Chinese shipments.
The decision could reshape the graphite market, which has long been dominated by China, which is currently responsible for roughly 95 percent of global anode output. Imports from China made up two-thirds of the 180,000 metric tons of graphite shipped to the US in 2023.
Overall, there is also growing urgency among EV supply chain participants to pivot away from China.
While materials like lithium and cobalt have captured more headlines, graphite, which makes up over 95 percent of the anode side of an EV battery, is equally critical, accounting for as much as 50 kilograms per vehicle.
With the new tariffs in place, industry analysts expect a significant acceleration of non-Chinese supply chain development, particularly for US automakers under pressure to secure compliant sources.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: NextSource Materials is a client of the Investing News Network. This article is not paid-for content.
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05 August
NextSource Materials Executes Binding Offtake Agreement with Mitsubishi Chemical Corporation to Supply SuperFlake Graphite Anode Material for the North American EV Market
NextSource Materials Inc. (TSX:NEXT)(OTCQB:NSRCF) (NextSource or the Company) and Mitsubishi Chemical Corporation (MCC), Japan's largest chemical company and a leading supplier of anode active material (AAM) to original automotive equipment manufacturers (OEMs), have entered into a binding, multi-year offtake agreement (the Offtake Agreement). Under the terms of the Offtake Agreement, NextSource and MCC have partnered to supply AAM to a major OEM for the North American EV market. NextSource will produce and supply intermediate AAM to MCC's Japan plant where MCC will produce final AAM for the OEM's EV battery cell manufacturing facilities in North America.
Highlights
- Multi-year offtake agreement signed with Mitsubishi Chemical Corporation for supply of c. 9,000 tonnes per annum (tpa) of anode active material
- Partnering with Mitsubishi Chemical Corporation to supply major OEM manufacturer anode active material for its North American electric vehicle (EV) market
- Accelerates development of NextSource's Battery Anode Facility in the Middle East
- Significant milestone towards achieving vertical integration by 2027
This Offtake Agreement represents a major milestone for NextSource in its strategy to become one of very few vertically integrated graphite producers outside of China. The Company is now prioritizing the development of a large-scale Battery Anode Facility (BAF) in the Middle East to meet the volume capacities required for MCC and has identified several prospective sites in the United Arab Emirates (UAE). These locations offer streamlined permitting processes, robust infrastructure, and strategic proximity to other OEMs, enabling the Company to accelerate its timeline and meet growing demand for high-value graphite anode active material.
Hanré Rossouw, President and CEO of NextSource, stated,
"We are excited to have entered into a partnership with Mitsubishi Chemical Corporation through a binding offtake agreement for the production of active anode material in the Middle East, leveraging high-quality graphite feedstock from our Molo mine in Madagascar. This partnership underscores our commitment to delivering sustainable, high-performance anode materials to meet the growing demand from OEM and battery manufacturers. By integrating world-class resource supply with advanced processing capabilities, we are building a resilient and scalable solution that supports global electrification efforts."
Through the phased development of its BAFs, NextSource is establishing a significant downstream value-added business capable of large-scale production of coated, spheronized, and purified graphite (CSPG). These facilities will serve as a secure, transparent, and fully traceable source of supply for battery and OEM customers, entirely decoupled from existing Asian supply chains, and a critical alternative for US Government-compliant supply chains.In July 2025, the U.S. imposed a substantial 160% total tariff on anode-grade graphite imports from China, combining a 93.5% anti-dumping duty with additional countervailing measures.
More than 95% of the anode (negative) side of EV batteries is made from graphite, making it the most critical raw material of all battery metals (Benchmark Mineral Intelligence, July 2025). In parallel, NextSource has begun preparations to expand its Molo mine operations to ensure sufficient and secure graphite feedstock supply to support the Offtake Agreement with MCC.
Today's announcement also underpins NextSource's engagement with strategic financing partners where it is in advanced discussions regarding assistance in funding construction of both the large-scale BAF and Molo mine expansion.
Offtake Agreement Terms
The Offtake Agreement designates NextSource as the sole supplier of c. 9,000 tpa of intermediate AAM to MCC for a multi-year term from the commencement of production of the Company's BAF.
This Agreement is further underpinned by a rigorous qualification process. Through close technical collaboration between NextSource and MCC to supply AAM from high-quality SuperFlake® graphite concentrate, the qualification process will be finalized in 2026 through the installation of BAF processing equipment, of which approximately half has already been purchased and awaiting installation. SuperFlake® anode active material will be processed by MCC in Japan and supplied to its OEM customer's cell manufacturing facility in North America, with full-scale ramp-up from 2027.
The pricing formula negotiated with MCC is based on an agreed upon price formula that comprises both a fixed and variable price component which underpins the economics of the project and secures capacity for the offtaker.
The Offtake Agreement is subject to conditions precedent and contains standard termination rights, which are customary for an Offtake Agreement of this nature.
Offtake Capacity Requirements Underpin NextSource's Growth Strategy
Through close technical collaboration, qualification AAM from NextSource, using SuperFlake® graphite from Molo Phase 1 as feedstock, has been provided to and evaluated by MCC for the OEM's battery manufacturer, confirming compliance with its specific anode quality and performance requirements.
The Company has begun preparations for an industry-scale Molo Phase 2 expansion, which is expected to benefit from larger economies of scale, while continuing to qualifying its graphite products and servicing existing key customers through Phase 1 campaign production.
The completion of the technical and economic studies for both the mine and a UAE-based BAF will inform the final investment decisions, including capital requirements and detailed financing plans. The significant potential of an expanded Molo Phase 2 and large-scale BAF in the Middle East offer a strong foundation for growth by securing further offtake agreements for SuperFlake® AAM.
About Mitsubishi Chemical Corporation
Mitsubishi Chemical Corporation is a 100%-owned subsidiary of Mitsubishi Chemical Group Corporation. Mitsubishi Chemical Group aims to be a "Green Specialty Company" committed to solving social problems and to delivering impressive results to customers with the power of materials, under its Purpose that "We lead with innovative solutions to achieve KAITEKI, the well-being of people and the planet." Mitsubishi Chemical Group Corporation is listed on the Tokyo Stock Exchange Prime Market (Code: 4188).
For further information, please visit the company website: https://www.mcgc.com/english/
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.
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.
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, please visit our website at nextsourcematerials.com
Investors may contact: Brent Nykoliation, Executive Vice President +1.416.364.4911 brent@nextsourcematerials.com
Cautionary Note
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 commissioning and achievement of nameplate capacity, including the processing plant, process improvements and mine plant adjustments as well as production estimates, and financing and timing thereof, the rollout of Battery Anode Facilities including the capabilities and the timing thereof, and achievement of offtake agreements and required financing, and any conditions precedent as part of an offtake agreement. These statements are based on current expectations, estimates and assumptions that involve a number of 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.
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24 July
NextSource Materials
Investor Insight
NextSource Materials is an emerging leader in the global battery materials sector, backed by a world-class graphite resource and proven technology to produce high-performance anode material. With a focus on full vertical integration, the company is strategically positioned to supply critical materials essential to the global clean energy transition.
Overview
NextSource Materials (TSX:NEXT,OTCQB:NSRCF) is a Canadian-based battery materials development company focused on becoming a vertically integrated global supplier of critical minerals essential to the global clean energy transition. The company’s strategy spans the full value chain – from mining and upgrading high-quality flake graphite to producing advanced battery anode materials – positioning it as a key supplier to the rapidly growing electric vehicle (EV) and renewable energy storage markets.
NextSource’s core asset is the Molo graphite mine in Madagascar, one of the largest and highest-grade flake graphite deposits in the world. Commencing production in October 2024, the Molo mine has a resource base of more than 153 million tonnes and the exclusive source of NextSource’s trademarked SuperFlake® graphite.
Complementing the Molo graphite mine is the company’s downstream expansion through battery anode facilities (BAFs), which will convert its proprietary SuperFlake® graphite into spherical purified graphite (SPG) and coated SPG (CSPG), enabling direct supply to global battery and automotive manufacturers outside traditional Asian supply chains.
Global demand for flake graphite, valued at US$3.12 billion in 2024, is forecast to grow to US$5.48 billion by 2034, driven by a 6.1 percent CAGR. This growth is primarily fueled by the expansion of lithium-ion battery manufacturing for EVs and renewable energy systems, where graphite remains the dominant material used in battery anodes.
NextSource also owns the Green Giant vanadium project, an advanced-stage and strategically significant vanadium asset located near the Molo mine. With a large, sediment-hosted deposit suited for vanadium redox flow batteries (VRFBs), Green Giant provides additional exposure to the grid-scale energy storage market – a rapidly emerging segment of the clean energy landscape.
NextSource has assembled an impressive leadership team with a proven track record in mine operations and building shareholder value. With long-term offtake agreements in place, a scalable mine-to-anode business model, and strategic backing from Vision Blue Resources, led by former Xstrata CEO Sir Mick Davis, NextSource is positioned to deliver significant value as a secure and sustainable supplier of critical battery materials.
Company Highlights
- Molo Graphite Project: The Molo graphite project in Madagascar is among the world’s largest and highest-quality graphite resources and is the exclusive source of SuperFlake® graphite.
- First Commercial Shipments Completed: SuperFlake® shipments have been to multiple end-users and approved for high-demand applications for flake graphite, including battery anodes, refractory and graphite foils for fire retardants and consumer electronics.
- Long-term Offtake Agreements: One of the few graphite producers globally to secure long-term sales agreements with tier one partners, including a 20,000 tpa agreement with a leading Japanese trader that supplies intermediate anode material to the Japanese market, and a 35,000 tpa agreement with thyssenkrupp Materials Trading GmbH for SuperFlake® graphite concentrate.
- Mine Expansion Planned: With anticipated volume demands expected to quickly outgrow its Phase 1 volume capacity, NextSource updated its operational strategy to utilize Phase 1 for campaign production to focus on development of its Phase 2 mine expansion.
- Downstream Value-add Expansion: The company is executing a phased rollout of battery anode facilities to produce spherical purified graphite and coated SPG at commercial scale. These facilities will supply high-performance anode material directly to battery and automotive manufacturers outside traditional Asian supply chains.
- Strategic Shareholder Support: Vision Blue Resources, a battery materials investment fund led by former Xstrata CEO Sir Mick Davis, is NextSource’s corner-stone shareholder. Sir Mick Davis also serves as NextSource’s chairman, bringing decades of mine development and operational leadership to the company.
- Vanadium Exposure: NextSource also holds the Green Giant vanadium project in Madagascar, an advanced-stage NI 43-101 resource and one of the world’s largest known sedimentary vanadium (V2O5) deposits.
Key Projects
Molo Graphite Mine and Project
NextSource’s flagship Molo graphite project ranks as one of the largest-known and highest-quality flake graphite deposits in the world. The property spans more than 62.5 hectares, sits in the Tulear region of Southwestern Madagascar, and is located 11.5 kilometers east of the town of Fotadrevo. Phase 1 of the mine is currently in operation.
NextSource has superior flake size distribution and well above the global average. The Molo asset is relatively unique for having almost 50 percent premium-priced large and jumbo flake graphite and can achieve up to 97 percent carbon purity with simple flotation alone. Molo SuperFlake® has been verified by end-users and meets or exceeds all criteria for the top demand markets for flake graphite; anode material for lithium-ion batteries, refractories, graphite foils and graphene inks.
Project Highlights
Geological and Resource Overview:
- Measured and indicated resources: 100.37 million tonnes (Mt) at 6.3 percent total graphitic carbon (C), based on a 2 percent C cut-off.
- Proven and probable reserves: 53.75 Mt at 6.2 percent C, based on a 3 percent C cut-off, including 21.33 Mt proven and 32.41 Mt probable.
- Over 300 km of continuous surface graphite mineralization has been delineated, enabling flexible, demand-driven production scale-up.
- The resource base supports more than 100 years of mine life at 17,000 tpa and 25+ years at 150,000 tpa production levels.
Operational Status:
- Phase 1 operations commenced production in October 2024, with the first commercial shipments of SuperFlake® graphite concentrate delivered to customers in Germany and the US in early 2025.
- In May 2025, NextSource transitioned Phase 1 to campaign production in order to preserve capital and prioritize the larger Phase 2 expansion, which is now the operational focus.
- Nameplate capacity for Phase 1 is 17,000 tpa, with modular Phase 2 plans targeting up to 150,000 tpa production capacity.
Strategic Sales Agreements:
- A 35,000 tpa SuperFlake® graphite offtake agreement with thyssenkrupp Materials Trading GmbH.
- A 20,000 tpa agreement with a leading Japanese trader that supplies anode material to major OEM supply chains (Tesla, Toyota).
Battery Anode Facilities
NextSource’s BAFs are value-added processing plants designed to convert smaller flake graphite into high-performance anode material, an essential component of lithium-ion batteries used in electric vehicles.
Project Highlights
Technology and Product Focus:
- Using a proprietary and proven processing technology, licensed exclusively by NextSource and currently supplying major OEMs, the BAFs will produce spherical purified graphite (SPG) and coated SPG (CSPG) through a process verified within, and currently being used by, the Tesla and Toyota supply chains.
- The CSPG production process involves micronizing flake graphite, shaping it into spheres (spheroidization), purifying it and applying a hard carbon coating to enhance durability and performance in battery applications.
Pilot to Commercial Progression:
- A pilot BAF in Mauritius successfully validated NextSource’s processing technology and facilitated advanced product qualification with Tier 1 EV and battery manufacturers.
- In 2025, the company redirected its BAF expansion focus from Mauritius to the Middle East, identifying Saudi Arabia and the UAE as ideal first locations due to favorable permitting, infrastructure, and access to global EV markets.
Strategic Plans and Economic Advantages:
- NextSource’s established technical process gives it a competitive advantage by significantly reducing the time and cost required for R&D and qualification phases.
- The modular BAF rollout strategy supports flexible scaling, with additional facilities planned for North America, Europe, and Asia to meet growing OEM demand.
- Feedstock will be sourced primarily from the Molo Mine, with provisions for qualified third-party graphite as needed.
Green Giant Vanadium Project
The Green Giant vanadium project is a 100-percent-owned, advanced-stage exploration asset located in south-central Madagascar, approximately 15 kilometers from the Molo Graphite Mine. It is one of the world’s largest known vanadium deposits and a potential future growth driver for NextSource.
Project Highlights
Resource Profile:
- NI 43-101 compliant resource of approximately 60 million tonnes, grading an average of 0.7 percent vanadium pentoxide at a 0.5 percent cut-off.
- The deposit is sediment-hosted, a rare geological profile seen in only about 5% of vanadium occurrences, and favorable for producing high-purity vanadium compounds.
Strategic Importance:
- Vanadium is a key material in vanadium redox flow batteries (VRFBs), which are emerging as a critical solution for long-duration grid-scale energy storage—a necessary component of the transition to renewable power.
- With increasing global focus on decarbonizing power systems, Green Giant provides long-term optionality in a growing adjacent market.
Development Status:
- Over US$20 million has been invested in exploration and development since acquisition in 2007.
- While currently on hold to maintain focus on graphite and anode material commercialization, the project remains a strategic asset for future energy storage market expansion.
Management Team
Hanré Rossouw - President and Chief Executive Officer, Director
Hanré Rossouw joins NextSource from his role as executive director and chief financial officer of Sasol Limited with extensive experience in the global natural resources industry over the last 25 years. A British and South African national, Rossouw has held senior positions in leading global mining and investment companies where his roles involved business development, M&A, capital markets, asset management and growth optimization.
Craig Scherba - Chief Development Officer, Director
Craig Scherba brings extensive operational and geologic experience, having discovered both the Molo and Green Giant deposits. He currently heads up development of NextSource’s downstream OEM offtake strategy and plans.
Jaco Crouse - Chief Financial Officer
Jaco Crouse brings over 20 years of experience in the global natural resources sector, with expertise in M&A, capital markets and financial strategy. He held senior positions at Glencore and Xstrata.
Brent Nykoliation - EVP, Strategy and Corporate Affairs
Brent Nykoliation joined the senior management team at NextSource Materials as vice-president in 2007 and leads strategy and corporate affairs for the company. In addition, he oversees all communications with graphite customers, institutional investors and analysts for the company.
He brings over 20 years of senior management experience, having held marketing and strategic development positions with several Fortune 500 corporations in Canada.
Dr. Tilo Hauke - EVP, Downstream Operations
Dr. Tilo Hauke leads the development of the company’s BAFs, focused on producing commercial-scale graphite anode material for lithium-ion batteries used in electric vehicles. He previously spent two decades at SGL Carbon SE, a global leader in carbon and graphite products, holding senior roles including SVP of Fuel Cell Components and Group VP of Technology and Innovation.
Danniel Stokes - VP, Special Projects
Daniel Stokes spearheads the project management aspects of the company, with significant experience across a diverse portfolio of projects in mining, infrastructure and nuclear industries.
Markus Reichardt - VP, Sustainability
Markus Reichardt is responsible for driving the company’s safety, health, environment, social, climate change and quality performance and initiatives. He has a 25-year track record in operational, senior corporate and advisory roles in the resources, agricultural and renewables sectors across the developing world.
Jean Luc Marquetoux - Country Manager
Jean Luc Marquetoux brings nearly three decades of experience in mining and project development in Madagascar and brings deep regional and governmental expertise in Madagascar.
Board of Directors
Sir Mick Davis - Chairman
Sir Mick Davis is the CEO of Vision Blue Resources and a highly successful mining executive accredited with building Xstrata plc into one of the largest mining companies in the world before its acquisition by Glencore plc.
Ian Pearce – Director
Ian Pearce is the former CEO of Xstrata Nickel, and was the former COO of Falconbridge Limited, which was acquired by Xstrata Plc in 2006. Xstrata Plc’s acquisition of Falconbridge was one of the largest mining takeovers globally and one of the largest takeover bids in Canadian history.
Brett Whalen — Director
Brett Whalen has over 20 years of investment banking and M&A expertise, spending over 16 of those years at Dundee Corporation. During his tenure at Dundee, Whalen was directly involved in completing approximately $2 billion in M&A deals and helped raise over $10 billion in capital for resource sector companies.
Christopher Kruba - Director
Christopher Kruba is vice-president and legal counsel to Nostrum Capital Corporation and several related corporations that are part of the Toldo Group.
Martina Buchhauser - Director
Martina Buchhauser is a globally recognized leader in the automotive industry, with deep expertise in sustainable mobility and the transition to low-carbon, responsible business practices. Her executive career includes senior roles in global procurement and supply chain management at General Motors, MAN, BMW, and most recently Volvo Cars.
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18 July
US Slaps 93.5 Percent Tariff on Chinese Graphite
The US government has imposed a 93.5 percent anti-dumping tariff on battery-grade graphite imports from China, targeting what officials have described as unfairly low-priced shipments.
They claim domestic producers have been undercut, and have cited concerns over critical minerals dependence.
The US Department of Commerce announced the duty on Thursday (July 17) after an investigation prompted by from US manufacturers, who argued that Chinese producers were flooding the market with underpriced graphite.
The new duty, when combined with existing countervailing tariffs, raises the total effective rate to around 160 percent, according to the American Active Anode Material Producers (AAAMP), the coalition that filed the complaint.
The move affects roughly US$347 million worth of Chinese graphite imports, according to commerce department estimates, and comes as US policymakers scramble to secure critical mineral supply chains.
“Commerce’s determination proves that China is selling [active anode material] at less than fair value into the domestic market,” Erik Olson, a spokesperson for AAAMP, said in a Thursday press release.
The department said final rulings on both anti-dumping and anti-subsidy investigations will be announced by December 5.
A separate ruling in May placed a 6.55 percent preliminary countervailing duty on most Chinese producers, but singled out Huzhou Kaijin New Energy Technology and Shanghai Shaosheng for exceptionally high rates — 712.03 percent and 721.03 percent, respectively.
Graphite's importance draws new scrutiny
While graphite rarely draws headlines like lithium or cobalt, it comprises up to 50 kilograms of every electric vehicle (EV) battery, forming the anode — a component as essential as the more widely discussed cathode.
China accounts for roughly 95 percent of global anode production, according to data from SNE Research.
Imports from China represented two-thirds of the 180,000 metric tons (MT) of graphite products shipped to the US in 2023, BloombergNEF data shows. Industry analysts say the new duties could significantly reshape market economics — especially for foreign battery suppliers that serve US automakers.
Supporters of the decision, including domestic producers and some lawmakers, argue the tariffs are a long-overdue corrective measure to level the playing field and stimulate US production.
“The decision today underscores the strategic importance of building a domestic supply chain for critical minerals, including synthetic graphite, in North America,” said Michael O’Kronley. “It affirms our business strategy as well as the diversification strategy of our customers to source critical battery materials and components locally."
O'Kronley is CEO of Novonix (ASX:NVX,NASDAQ:NVNXF), which is building one of the largest synthetic graphite facilities in North America with support from a US$750 million US Department of Energy loan.
Westwater Resources (NYSEAMERICAN:WWR), which is constructing a graphite plant in Alabama, said the ruling provides the policy clarity and market signals needed to accelerate domestic graphite production.
“These two rulings by the DOC are distinct from legislative-driven global trade tariffs,” said Chief Commercial Officer Jon Jacobs in a statement of support. “They reflect long-term support for US-based graphite production.”
The company expects to produce 12,500 MT of graphite in 2026 and ramp up to 50,000 MT annually by 2028.
Despite efforts to boost local production, US automakers and battery makers warn that domestic graphite supply remains years away from meeting commercial demand — either in scale or purity.
In filings with the commerce department, Tesla (NASDAQ:TSLA) cautioned that US producers have yet to demonstrate the technical ability to deliver the quality needed for EV batteries. Panasonic (OTC Pink:PCRFF,TSE:6752) echoed similar concerns, and both companies opposed the tariff earlier this year.
This leaves companies with a difficult choice: pay sharply higher prices for Chinese imports or risk shortages from an unproven local market.
Trade frictions add to supply chain strain
The timing complicates matters further. Just days before the US tariff announcement, China finalized new export controls on key battery technologies, including those used in lithium iron phosphate (LFP) cells — an area where China leads globally. The combination of trade restrictions on both sides is stoking fears of a wider resource standoff.
For US automakers, the downstream pressure is immediate. The tariff could wipe out up to 20 percent of the value of production tax credits under the Inflation Reduction Act, while added import costs may ripple through the supply chain.
Higher battery costs could also push EV sticker prices further upward, straining affordability and slowing adoption.
But experts caution that breaking China’s dominance in graphite will not be quick or easy. According to the International Energy Agency, developing alternative supply chains for battery materials could take years, if not decades — especially given the high purity and consistency required in EV-grade materials.
Still, supporters argue the short-term pain is worth the strategic payoff. “It’s a very strong signal that they are intent on fostering an ex-China supply chain,” Ben Lyons of Jarden told the Financial Times.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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14 July
Queensland Recognizes Graphinex’s Esmeralda Graphite Project
The Queensland Government is fast-tracking private company Graphinex’s Esmeralda graphite project with a Coordinated Project declaration.
In a July 11 statement, the government said that the declaration forms part of the Crisafulli Government’s move to partner with private companies and boost job-creating projects in Queensland.
“De-risking the delivery of projects like this through whole-of-government approval coordination is supporting more Queensland investment and creating more well-paying Queensland resource jobs,” commented Deputy Premier and Minister for State Development, Infrastructure, Local Government and Planning Jarrod Blejie.
Esmeralda is located south of Croydon and is expected to create around 233 jobs in north Queensland, 100 during construction and 133 during peak operations.
The project is said to be Queensland’s largest graphite deposit, measuring 3.5 million tonnes.
“(This declaration) streamlines approvals, cuts our development timeline by at least 12 months, and confirms the (Queensland) Government’s recognition of the project’s strategic importance to the state,” commented Graphinex Managing Director Art Malone.
According to the Queensland Treasury, Esmeralda holds a processing and testing capacity of 240 tonnes of graphite concentrate annually.
“(It) will shortcut delays associated with sending minerals overseas for testing,” the treasury highlighted.
Meanwhile, investors are responding to the Crisafulli Government’s moves, according to Minister for Natural Resources and Mines Dale Last.
“With a reported 25 million tonnes of graphite in this region – the third-largest deposit in the world – this project will help build Queensland’s critical minerals capability and strengthen domestic supply chains.”
“Investors are looking at jurisdictions that offer certainty, clarity and low sovereign risk,” he added.
Graphinex is also currently progressing a battery anode demonstration facility in Townsville, Queensland, which is set to be built in 2025.
The facility is regarded as “Australia’s first fully integrated demonstration-scale plants for processing graphite concentrate in Townsville.”
It is supported through Queensland’s Critical Minerals and Battery Technology Fund.
Environmental approval processes for Esmeralda will now commence following the declaration.
Construction for the project is set for 2027, while operations are expected towards the latter half of 2028.
Don’t forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.Keep reading...Show less
18 June
ASX Graphite Stocks: 5 Biggest Companies in 2025
Graphite isn’t just used for pencils — it's also a key lithium-ion battery component due to its high conductivity and quick-charging capacity.
This means the graphite sector could experience tailwinds from rising demand for electric vehicles and energy storage systems in the coming years.
Australian investors searching for ways to get exposure to the graphite industry can look to the ASX, which is home to a slew of companies focused on the graphite market.
When learning about an industry, it's often a good idea to start with key players. Here the Investing News Network has compiled a list of the largest graphite-focused companies on the ASX by market cap. Data was collected using TradingView's stock screener on June 12, 2025.
Read on to learn about Australia's largest graphite companies.
1. Sovereign Metals (ASX:SVM)
Market cap: AU$472.27 million
Sovereign Metals is focused on advancing on its Kasiya rutile-graphite project in Malawi.
The company believes the graphite from its project has the potential to be used to supply spherical purified graphite for the lithium-ion battery anode market. Kasiya's graphite co-product ore reserve is 538 million tonnes at 1.66 percent graphite, for 8.9 million tonnes of contained graphite.
Major miner Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) has made a series of strategic investments in Sovereign Metals of more than AU$60 million, giving it a 19.99 percent stake in the company.
With this funding and Rio Tinto's technical expertise, Sovereign is advancing Kasiya toward a definitive feasibility study (DFS). In April, the company announced that extensive geotechnical investigations are underway at key infrastructure locations at the project, which will support layout and engineering design for the DFS slated for completion in Q4 2025. An updated mineral resource estimate is expected to be out during Q2 2025.
2. Syrah Resources (ASX:SYR)
Market cap: AU$297.04 million
Syrah Resources is an industrial minerals and technology company with a vision of becoming a leading global supplier of graphite and battery anode products. The company's two main focuses right now are its flagship Balama graphite project in Mozambique and its Vidalia anode materials facility in Louisiana, US.
Syrah started production at the Vidalia facility early last year, making it the first integrated graphite processor outside of China. The plant has an annual production capacity of 11,250 tonnes of active anode material, and Syrah stated in its March 2025 quarterly report it is considering expanding Vidalia’s production capacity to 45,000 tonnes per year. The final investment decision is dependent on sales of the product and customer and financing commitments.
Syrah’s Balama operation has a projected lifespan of over 50 years, and its combined mining and processing operations allow for the production of 94 to 98 percent pure carbon graphite concentrate. The company reached a milestone in April 2024 with the sale of 10,000 tonnes of natural graphite fines from Balama to Indonesia BTR New Energy Materials.
Syrah inked a binding offtake agreement with electric vehicle maker Lucid Group (NASDAQ:LCID) in February 2025 for the supply of natural graphite active anode material from Vidalia totalling approximately 7,000 tonnes in aggregate over a three-year term kicking off at the start of 2026.
The company also has binding offtake agreements with South Korea's Posco Future M (KRX:003670), Tesla (NASDAQ:TSLA), Westwater Resources (NYSEAMERICAN:WWR) and Graphex Technologies, a wholly owned subsidiary of Graphex Group (NYSEAMERICAN:GRFX,HKEX:6128).
3. Talga Group (ASX:TLG)
Market cap: AU$181.84 million
Talga Group is a vertically integrated battery anode and materials company, meaning it mines its own graphite and also produces anodes. It has operations in Sweden, Japan, Australia, Germany and the UK.
As of June 2025, all the necessary permits are now in place for its wholly owned Nunasvaara South mine at its Vittangi anode project in Sweden, which will feed its fully permitted Luleå anode refinery. Once the refinery is in operation, it is expected to produce 19,500 tonnes of Li-ion battery anode annually.
The mine and refinery together have been designated as a strategic project under the European Commission’s Critical Raw Materials Act and the Net-Zero Industry Act.
The month prior, Talga secured a binding offtake agreement with battery charging technology company Nyobolt that includes a multi-year supply of Talga's Talnode-C graphite anode from the Vittangi anode project.
4. Quantum Graphite (ASX:QGL)
Market cap: AU$160.42 million
Quantum Graphite is advancing the Uley 2 flake graphite project in South Australia, which includes the past-producing Uley mine and the Mikkira deposit. The company bills it as “one of the largest high-grade natural flake deposits in the world.”
The project is fully permitted and development ready, with a binding offtake agreement with a major European trading group for 50 percent of its production for a minimum of five years.
Through its Sunlands Power joint venture with Sunlands Energy, Quantum Graphite plans to manufacture coarse-natural-flake-based thermal storage media sourced from the Uley mine to be fitted within Sunland Energy’s patented TES Graphite Cells technology for grid-connected, long-duration energy storage.
In early March, the Australian government granted major project status to the Uley 2 flake graphite property together with Sunland's associated facilities.
5. Renascor Resources (ASX:RNU)
Market cap: AU$150.04 million
Renascor Resources has honed its efforts on helping to power the future with clean energy resources.
While the company has five projects, most of its activities are focused on its two fully owned projects in South Australia: the Siviour battery anode materials project and the Carnding gold project.
Last year, the Australian government approved a AU$185 million loan facility to help advance its planned vertically integrated battery anode material graphite mine and manufacturing operation. The company was also awarded a AU$5 million grant under the Australian government’s International Partnerships in Critical Minerals Program to help fund a AU$10 million demonstration plant. Both of these initiatives have helped to fast track Siviour.
Renascor says it’s on track for planned commissioning of the demonstration processing plant in Q3 2025. The plant will produce battery-grade purified spherical graphite.
FAQs for investing in graphite
What is graphite?
Graphite is a naturally occurring form of the mineral carbon and is composed of many layers of graphene. The other naturally occurring form of carbon is diamonds, although the two minerals look entirely different due to their molecular structure. Graphite is fragile, but it has a very high heat resistance.
Graphite comes in three forms: amorphous, flake and vein, with flake being the most used. There is also synthetic graphite.
What is graphite used for?
The first thing that may come to mind when thinking of graphite applications is pencil lead. In fact, it is that industry that gave graphite its name — its moniker is derived from the Ancient Greek "graphein," which means to write. However, pencils make up a small percentage of overall graphite consumption.
A popular up-and-coming graphite use is as a component of lithium-ion batteries, which are used in everything from smart phones to EVs. It is a primary material in battery anodes — in fact, in the average electric passenger car, there are about 66 kilograms of graphite.
Other graphite uses include lubricants and consumer electronics; the commodity is also used as a refractory material in the manufacturing industry and in the creation of graphene sheets.
Is graphite found in Australia?
Even though there are no large-scale producing graphite mines in Australia (yet), the country sits on 5 million tonnes of ore reserves, and 7.97 million tonnes of economic demonstrated resources, as per government data published in 2022. These reserves and resources are shared between three states: Queensland, South Australia and Western Australia.
Article by Melissa Pistilli; FAQs by Lauren Kelly.
Don't forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.
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