NextSource Materials to collaborate on battery anode plant in Madagascar with Japanese and Chinese partners

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executed a Letter of Intent (LOI) with its Japanese offtake partner and a leading Chinese processor of graphite anode material to collaborate on the construction of a value-add, battery anode plant in a jurisdiction that is proximal to the Company’s Molo graphite project in Madagascar. To protect certain confidential aspects of the LOI, the Japanese trading company and the Chinese SPG producer have requested not to be identified at this time.

Roskill: graphite prices could push higher on tightening markets for batteries & electrodes

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At the same time, consumption of graphite electrodes in electric arc furnaces (EAFs) began to rise as the Chinese government took steps to halt production of poor quality induction furnace steel. The focus for new natural graphite development remains in Africa, where almost 1 Mtpy of additional concentrate capacity has the potential to come online by 2027 with projects in Madagascar, Malawi, Mozambique, Namibia, and Tanzania.

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