NextSource Materials Inc. Discusses the Expansion of its Molo Graphite Mine in Madagascar and Offtake Partnerships with German Steel Giant Thyssenkrupp and the Tesla Supply Chain for its SuperFlake(R) Graphite
Phoenix, Arizona--(Newsfile Corp. - July 8, 2021) - The Stock Day Podcast welcomed NextSource Materials Inc. (TSX: NEXT) (OTCQB: NSRCF) ("the Company"), a battery materials development company based in Toronto, Canada that is intent on becoming a fully integrated, global supplier of critical battery materials needed to power the sustainable energy revolution. The Company's Executive Vice President, Brent Nykoliation, joined Stock Day host Everett Jolly.
Jolly began the interview by commenting on a recent press release detailing the Company's commercial offtake agreement with German steel and materials conglomerate, thyssenkrupp Materials Trading GmbH. "We signed a strategic offtake agreement with one of the world's largest materials traders and steel companies," said Nykoliation. "This was a five year process and we have now executed a binding offtake with thyssenkrupp to purchase 35,000 tonnes per year of our SuperFlake® graphite in Madagascar," shared Nykoliation.
"You announced last month that you have also secured an exclusive partnership with the Tesla supply chain to produce battery-grade graphite. Can you explain the details of that some more?", asked Jolly. "We announced a month ago that we had signed a collaboration with the key processors of battery-grade graphite for the Tesla supply chain," said Nykoliation. "That is a very significant addition to what began as an offtake agreement to purchase our graphite for use in Tesla's batteries. We have now grown this agreement to a collaborative partnership, where we have teamed up with the Japanese and Chinese partners currently supplying graphite to the Tesla supply chain to construct and duplicate the exact facility in China that currently processes much of the battery-grade graphite for Tesla in a location outside of China, with NextSource as a key partner," he continued, adding that currently 100% of battery-grade graphite for electric vehicles is processed in China.
"We are looking at several locations for this battery anode facility, including South Africa, Europe and North America," said Nykoliation. "NextSource will build and own the plant and then license the proven technology of these partners to supply the Tesla supply chain with our graphite," he added. "Our partners are providing us with a turn-key plant with their Intellectual Property (IP) as part of this collaboration." This allows us to produce battery-grade graphite using an already established and verified process with key automotive OEMs."
Jolly then asked about the Company's recent equity coverage with Cormark Securities. "Cormark is Canada's leading mid-tier investment bank and are experts in the battery materials space," said Nykoliation. "Mr. MacMurray Whale, their battery materials analyst, is regarded as one of the best analysts in the battery materials space and has initiated formal research coverage on NextSource," continued Nykoliation. "I encourage investors to contact MacMurray at Cormark Securities and read his independent analysis of our project, the Company's potential and his valuation of NextSource relative to others in the industry".
To close the interview, Nykoliation elaborated on the potential of the Company as the battery materials space continues to expand. "Graphite is a critical mineral and essential in batteries. Graphite in particular is at the top of the agenda for many governments and countries around the world, because of its economic importance and its critical role in the electrification of the automobile," said Nykoliation. "NextSource is fully funded to build the initial phase of our graphite mine in Madagascar, which will be commissioned in the second quarter of 2022," he continued. "Construction of our battery anode facility, which will be producing battery-grade graphite for the Tesla supply chain, is expected to start in 2022," shared Nykoliation. "We recently press released to the market that we have also initiated a technical study to expand the mine in Madagascar to a minimum of 150,000 tonnes per year based on the expected demand of our graphite from our offtake partners."
To hear Brent Nykoliation's entire interview, follow the link to the podcast here: https://audioboom.com/posts/7900997-nextsource-materials-inc-discusses-the-expansion-of-its-molo-graphite-mine-in-madagascar-and-off.
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ABOUT NEXTSOURCE MATERIALS INC.
NextSource Materials Inc. is a battery materials development company based in Toronto, Canada that is intent on becoming a fully integrated, global supplier of critical battery and technology materials needed to power the sustainable energy revolution. The Company's Molo graphite project is one of the largest known and highest-quality graphite deposits and the only one with SuperFlake® graphite.
NextSource Materials is listed on the Toronto Stock Exchange (TSX) under the symbol "NEXT" and on the OTCQB under the symbol "NSRCF".
For further information about NextSource, visit the website at: www.nextsourcematerials.com or contact +1.416.364.4911 or email Brent Nykoliation, Executive Vice President, at: brent@nextsourcematerials.com.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/89765.