NextSource Signs Agreement for Graphite Supply in Abu Dhabi Facility

NextSource Materials Inc. has signed a binding agreement with Syrah Resources Limited to supply natural graphite fines for its planned battery anode facility in Abu Dhabi, UAE. The agreement allows NextSource to source between 34,000 and 68,000 tonnes over seven years, contingent on specific conditions being met, including production commencement at NextSource's facility and successful qualification of Syrah's graphite.

This agreement is part of NextSource's diversification strategy for feedstock sources. It complements feedstock from its Madagascar Molo Graphite Mine, ensuring operational flexibility and supporting the facility's potential expansion. Additionally, it will support the existing supply agreement with Mitsubishi Chemical for anode active material, enabling NextSource to meet and potentially exceed demand as they scale production.