Molo graphite project, Madagascar – update

Location map of the Molo

Photo by NextSource Materials

9th February 2024

By: Sheila Barradas

Creamer Media Research Coordinator & Senior Deputy Editor


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Name of the Project
Molo graphite project.

Tulear region, south-western Madagascar.

Project Owner/s
Canadian battery materials development company NextSource Materials.

Project Description
The project is at the full feasibility study stage, and ranks as one of the biggest known highest-quality flake graphite deposits in the world; it is the only project with SuperFlake graphite.

NextSource will use an all-modular approach to build the mine.

Initial production is expected to be 17 000 t/y over the first two years of production, followed by mine expansion in Year 3. The project could be incrementally expanded to provide additional feedstock for the company’s downstream initiatives.

The project also includes the construction of a hybrid solar photovoltaic, battery energy storage system and thermal energy facility.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Not stated.

Capital Expenditure
$24-million, plus $3-million for working capital.

Planned Start/End Date
The mine achieved first production in June 2023.

Latest Developments
NextSource expects to achieve nameplate capacity of 17 000 t/y at its Molo graphite mine by July 2024.

Since it achieved first production in 2023, it has progressed through debottlenecking and optimisation activities to achieve the nameplate capacity.

During the ramp-up, the company identified and rectified underperforming equipment in the screening circuit, which the company notes has led to delays in achieving nameplate capacity.

Installation of replacement equipment will be complete in April 2024 and ramp-up will continue until June 2024.

As a result of the revised schedule, NextSource expects the first commercial shipment and sale of SuperFlake concentrate under offtake agreements to occur in June 2024.

The company has produced SuperFlake concentrate with a carbon content of more than 95% and concentrate is being stockpiled at the mine and a third-party warehouse facility for shipment as qualifying material for prospective customers.

To date, the company has completed the shipment of almost 60 t of qualifying material to its battery anode facility technology partner for testing and conversion into coated, spherionised, purified graphite.

NextSource is considering expanding the Molo mine up to a production capacity of 150 000 t/y of SuperFlake graphite concentrate.

Key Contracts, Suppliers and Consultants
Erudite Strategies (engineering, procurement and construction management contractor).

Contact Details for Project Information
NextSource Materials, tel +1416364 4911 or executive VP corporate development Brent Nykoliation, email

Edited by Creamer Media Reporter



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