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NextSource begins construction of Molo graphite mine in Madagascar

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(Kitco News) - NextSource (TSX:NEXT)(OTCQB:NSRCF) announced Monday that it has commenced the construction process of its Molo graphite mine in Madagascar with the awarding of the engineering, procurement, and construction management ("EPCM") contract to Erudite Strategies of South Africa.

NextSource said that Erudite has an excellent track record of delivering projects on time and on budget in Africa, with a particular expertise in fit-for-purpose solutions that cater to the global battery industry. The EPCM contract is now being finalized.

The company added that the Molo graphite mine is targeted to be fully operational in March 2022 and will host a processing plant capable of processing 240,000 tpa of ore and producing approximately 17,000 tpa of high-quality SuperFlake® graphite concentrate.

NextSource Materials is a battery materials development company based in Toronto, Canada that has mining and environmental licenses in place to begin construction of its 100%-owned Molo graphite project in southern Madagascar. The Molo graphite project has one of the largest and highest quality flake graphite deposits globally and is the only project with SuperFlake® graphite.

The company will utilize an all-modular build approach to construct the Molo graphite mine. Initial production is expected to be 17,000 tpa over the first two years of production followed by mine expansion in year three.

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