NEXTSOURCE Materials, a Toronto-listed company, announced on Thursday that it has successfully delivered its first commercial shipment of graphite concentrate from its Molo mine located in southern Madagascar to clients in Germany and the United States.
“This marks a significant milestone in NextSource’s growth as a supplier of essential materials to global markets and as a contributor to Madagascar’s economic development,” stated Craig Scherba, President and CEO of NextSource Materials.
The company confirmed that full container loads of high-quality, coarse flake graphite concentrate were exported from Madagascar’s Port of Tulear under existing offtake agreements. These initial shipments of SuperFlake® graphite are aimed at key markets demanding higher-value graphite products, including refractory materials and graphite foils for consumer electronics and fire-retardant applications.
Mick Davis, the former CEO of Xstrata, is also invested in the Molo mine through his firm, Blue Vision, which holds a stake in NextSource Materials. Last week, Vision Blue disclosed a £7 million investment in Cornish Metals’ South Crofty tin mine in southwest England. Around the same time, Cornish Metals announced the hiring of Don Turvey, a former coal miner and BHP executive from South Africa. Vision Blue had previously invested £27 million in Cornish Metals in 2022.
In 2023, Vision Blue raised $650 million from investors for critical minerals development. “The interest from new investors seeking exposure to VBR’s strategy of accessing critical minerals has exceeded our expectations,” Davis remarked.