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Africa|Aggregate|Automotive|Components|Construction|electrification|Modular|PROJECT|Project Management|Projects|Resources|Operations
Africa|Aggregate|Automotive|Components|Construction|electrification|Modular|PROJECT|Project Management|Projects|Resources|Operations
africa|aggregate|automotive|components|construction|electrification|modular|project|project-management|projects|resources|operations

With Madagascar mine nearly complete, NextSource progresses plans for its first battery anode facility

25th October 2022

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

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With the completion of Phase 1 of the Molo graphite mine, in Madagascar, just weeks away, Vision Blue-backed developer NextSource is finalising its plans to build several battery anode facilities (BAFs) that will convert flake graphite into coated, spheronised and purified graphite (CSPG).

CSPG is the final form of graphite that is used as anode material, which is assembled along with other components into finished lithium-ion batteries, used by automobile manufacturers for electric vehicles.

The BAFs would have modular production capacities that could be expanded in lockstep with automotive demand and each facility would be strategically positioned to serve key markets in Asia, North America and Europe, the Toronto-listed company said in a statement on Tuesday.

NextSource noted that it had selected a location for its first BAF, but would only share more details once it had completed the capital and operating cost study in November.

The BAF will take about 12 months to complete, once a construction decision has been made.

Meanwhile, NextSource reported that it would complete construction activities at its Molo mine in November and that it would complete plant commissioning in December.

Phase 1 of the Molo mine would operate at a production capacity of 17 000 t/y and could be incrementally expanded to provide additional feedstock for the company’s downstream initiatives.

"With the commissioning of the Molo mine anticipated to be just weeks away, we are executing on our strategy to become an integrated producer of graphite anode materials to supply the global automotive industry with a material that is critical to its electrification plans. The construction of the Molo mine is progressing well, and we expect to provide details on the location and economics of our first downstream battery anode facility by December,” said president and CEO Craig Scherba.

Meanwhile, NextSource expanded its senior management and mine operations teams with the addition of Danniel Stokes as VP special projects and Wilhelm Reitz as mine manager of the Molo mine.

Stokes, who has 18 years of project management experience, will be based in the UK and will be responsible for project management of the Molo Phase 2 expansion feasibility study and the BAF project.

Reitz has 28 years of mine management experience in Africa and across a diverse range of critical minerals, metals and commodities, with specific graphite expertise, having served as the mine manager and technical adviser to two graphite operations in Madagascar.

“I am delighted to welcome Danniel Stokes and Wilhelm Reitz to the NextSource team and, together with the additional investment by Vision Blue Resources, we are well positioned as we advance to our next stage of growth,” said Scherba..

NextSource has announced the early exercise by Mick Davis’ Vision Blue of 23 214 286 common share purchase warrants at C$1 each that were set to expire on May 19, 2023, for aggregate gross proceeds of C$23.21-million.

Vision Blue will now have beneficial ownership or control of 46.71% on a non-diluted basis and 46.78% on a partially diluted basis in NextSource.

Edited by Creamer Media Reporter

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