NEXTSOURCE Materials, a Toronto-listed firm, said on Thursday the first commercial graphite concentrate was delivered from its Molo mine in southern Madagascar to clients in Germany and the US.
“This is an important step in NextSource’s development as a supplier of critical materials to global markets and a contributor to economic development in Madagascar,” said Craig Scherba, President & CEO of NextSource Materials in a statement.
Full container loads of high-quality, coarse flake graphite concentrate were exported from Madagascar’s Port of Tulear under existing offtake agreements, the company said.
“These initial container shipments of SuperFlake® graphite are destined for key demand markets for higher value graphite products, including refractory materials and graphite foils for consumer electronics and fire-retardant applications,” it said.
Mick Davis, the former CEO of Xstrata, is invested in the mine via his firm Blue Vision’s stake in NextSource Materials.
Vision Blue last week said it had invested £7m in Cornish Metals’ South Crofty tin mine, situated in southwest England. Around the same time, Cornish Metals announced it had employed Don Turvey, a former coal miner and BHP executive from South Africa. Vision Blue invested £27m in the company in 2022.
In 2023, Vision Blue raised $650m from investors for critical minerals development. “The interest from new investors seeking exposure to VBR’s strategy of accessing critical minerals has been beyond our expectations,” said Davis.
