on NextSource Materials Inc. (isin : CA65343M1005)
NextSource Materials Updates Molo Graphite Mine Operations and Expansion Plans
NextSource Materials Inc. has provided an update for the six months ending December 31, 2024, on its Molo Graphite Mine in Madagascar and its battery anode facility development. Despite an oversupply in the graphite market, driven by low EV demand and Chinese market saturation, NextSource maintains a positive long-term outlook.
Global battery demand is expected to increase significantly by 2030, with 97 new graphite mines needed by 2035. The company is focused on optimizing the Molo plant to improve productivity and reduce costs. Plans include ramping up production to 15,000-17,000 tpa of SuperFlake® graphite and securing strategic partnerships.
NextSource has exported graphite concentrate to Germany and the U.S. under existing agreements. Verification testing is underway. The company is also strengthening its management team and advancing projects for its Battery Anode Facility in Mauritius.
R. P.
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