NextSource Materials Inc. is a Canadian strategic materials development company headquartered in Toronto, Ontario. The company specializes in producing high-quality graphite and battery materials for the electric vehicle (EV) industry. Listed on the Toronto Stock Exchange (TSX: NEXT) and OTCQB (NSRCF), NextSource operates the Molo Graphite Mine in Madagascar, which features their proprietary SuperFlake® graphite. This exceptional material meets stringent performance standards required by major manufacturers across various applications. The company’s integrated approach to battery material production positions it as a significant supplier in the growing EV market, particularly in regions seeking alternatives to traditional Asian supply chains.
Battery Technology
NextSource Materials’ primary technological focus centers on their SuperFlake® graphite production and processing capabilities. The company’s Battery Anode Facilities (BAFs) transform raw graphite into spheronized and purified graphite (SPG) and coated SPG (CSPG), essential components for lithium-ion battery anodes. These facilities implement advanced processing techniques, including blending, coating, purification, and spheroidizing, to create materials that meet exact specifications for EV manufacturers.
The company’s expansion strategy includes developing multiple BAFs globally, with a planned total production capacity of 100,000 tonnes per annum of CSPG over the next five years. These facilities will be strategically located in Saudi Arabia, North America, and Europe to serve major markets efficiently. Their processing technology ensures consistent quality while maintaining environmental standards, supporting the sustainable development of EV battery materials.
Recent Projects
In early 2024, NextSource secured a US$20 million credit facility from Vision Blue Resources, structured in four US$5 million tranches. The company has also completed screening equipment upgrades at the Molo Graphite Mine to enhance recoveries and meet customer specifications. A technical and economic study for a proposed battery anode facility in Saudi Arabia showed positive results, supporting their global expansion strategy. Additionally, NextSource raised CAD$14,695,893 through a private placement to support BAF development and Molo Mine Phase 2 expansion.
Investors
Vision Blue Resources, founded by Sir Mick Davis, serves as the principal investor in NextSource Materials, holding approximately 48% of outstanding common shares. Theseus (Guernsey) Ltd., as Trustee of The Athol 3 Settlement, maintains a significant 51% stake. Other notable investors include Brett Whalen (0.5978%), Marc Johnson (0.2867%), and Brent Nykoliation (0.2627%), who also serves as Executive Vice President of Corporate Development.
Business Details
Location: Exchange Tower, 130 King Street West, Suite 1940, Toronto, ON M5X 2A2, Canada
Website: https://nextsourcematerials.com
LinkedIn: https://www.linkedin.com/company/24794754
