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TORONTO, ON / ACCESSWIRE / October 24, 2024 / NextSource Materials Inc. (TSX:NEXT)(OTCQB:NSRCF) ("NextSource" or "the Company") is pleased to announce it has completed its first commercial shipments of SuperFlake® graphite concentrate from its Molo Graphite Mine (the "Molo mine") in southern Madagascar.
Full container loads of high-quality, coarse flake graphite concentrate were exported from the Port of Tulear, Madagascar to Germany and to the United States of America (USA) under existing offtake agreements. 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.
Craig Scherba, President & Chief Executive Officer commented:
"We are delighted to announce our first commercial shipments of SuperFlake® graphite from Molo to European and American customers. 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."
About NextSource Materials Inc.
NextSource Materials Inc. 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 graphite resources globally, and the only one with SuperFlake® graphite. The Molo mine has begun production, with Phase 1 mine operations currently being optimized to reach its nameplate production capacity of 17,000 tpa of graphite concentrate.
The Company is also developing a significant downstream graphite value-add business through the staged rollout of Battery Anode Facilities capable of large-scale production of coated, spheronized and purified graphite for direct delivery to battery and automotive customers, outside of existing Asian supply chains, in a fully transparent and traceable manner.
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 please visit our website at www.nextsourcematerials.com or contact us:
Investors: Brent Nykoliation Executive Vice President +1.416.364.4911 brent@nextsourcematerials.com or Craig Scherba, President & CEO craig@nextsourcematerials.com
Media: Michael Oke/Andy Mills +44 207 321 0000 nextsource@aura-financial.com