Canada’s NextSource Materials (TSX: NEXT; US-OTC: NSRCF) has completed its first commercial shipments of graphite concentrate from its Molo mine in southern Madagascar, destined for Germany and the United States under off-take agreements.
The company said it had exported full container loads of high-quality, coarse flake graphite concentrate from the Port of Tulear, Madagascar, to be used in high-value graphite products. These include refractory materials and graphite foils for consumer electronics and fire-retardant applications.
The shipments mark an important milestone for NextSource as it establishes itself as a supplier of critical materials for global markets and a contributor to economic development in Madagascar, Craig Scherba, CEO and president said.
The Molo mine entered production a year ago and now produces NextSource’s SuperFlake, the registered trademark for the company’s graphite concentrate. The product is known for its high carbon purity of up to 98% across all flake size distributions with simple flotation alone. It can be upgraded to 99.97% battery grade purity.
The operation currently produces concentrate at a capacity of 17,000 tonnes per annum (tpa) and the company has already proposed an expansion that would increase output nearly nine-fold to 150,000 tpa.
NextSource has also outlined its future plans to become a vertically integrated global supplier of graphite anode material. It aims to construct multiple battery anode facilities (BAFs) in key jurisdictions, capable of producing coated spherical purified graphite (CSPG) at commercial scale.
This strategic move aligns with the increasing demand for graphite in battery production for electric vehicles (EVs) and energy storage systems.
NextSource shares were flat at 60¢ apiece on Thursday morning in Toronto, near the bottom of its 52-week range of 57¢ to $1.60. The company as a market capitalization of $110.1 million.
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