Make Kitco Your Homepage

NextSource completes construction of the processing plant at its Molo graphite mine in Madagascar

Kitco News

(Kitco News) - On Tuesday, NextSource Materials (TSX: NEXT) announced that construction of the processing plant and mining camp for the company's Molo graphite mine in Madagascar is now complete, and that the entire mining fleet is at site.

"Electrical interconnections between plant modules are in progress, which will be followed by commissioning and the start of mining activities. Plant commissioning will be followed by a ramp up period of up to three months prior to achieving commercial production," the company said in a news release.

Phase 1 of the Molo graphite mine is designed to process 240,000 tonnes per annum (tpa) of ore resulting in a name plate production capacity of 17,000 tpa of flake graphite, which is one of key components of lithium-ion batteries and fuel cells.

President and CEO Craig Scherba commented, "We are now entering the final stages of development of Phase 1 and are fast approaching first production. We look forward to providing a more detailed update as we progress through commissioning."

NextSource Materials is a battery materials development company based in Toronto, Canada that is intent on becoming a vertically integrated global supplier of battery materials through the mining and value-added processing of graphite and other minerals.

The company's Molo graphite project in Madagascar is one of the largest known and highest-quality projects globally, and the only one with SuperFlake® graphite. Phase 1 of the Molo mine is in the final stages of completion and approaching first production.

Sibanye-Stillwater launches off-market takeover offer for Australian base metal producer New Century

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.