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NextSource Materials Inc. (OTCQB: NSRCF) generates news that centers on its role as a battery materials company focused on graphite and anode active material. Company announcements highlight progress at the Molo graphite project in Madagascar, development of Battery Anode Facilities in the United Arab Emirates, and agreements with strategic partners in the battery and automotive supply chain.
Recent updates include technical and economic study results for a proposed 30,000 tonnes per annum Battery Anode Facility in the Industrial City of Abu Dhabi, the securing of an industrial building at that site, and the arrival of long-lead processing equipment in the UAE. The company also reports on front-end engineering and design work with its engineering partner Stantec, and on non-binding term sheets with strategic investors and local capital partners to fund Phase 1 of the UAE facility.
News flow also covers operational developments at the Molo mine, such as confirmation of uninterrupted mining and shipments of SuperFlake® graphite concentrate, campaign production strategies, and the use of Phase 1 operations to qualify products with customers. In addition, the company discloses financing arrangements, including an expanded drawdown facility with Vision Blue Resources, and corporate events such as annual shareholder meeting results.
Investors following NSRCF news can expect updates on offtake agreements, notably the binding multi-year agreement with Mitsubishi Chemical Corporation, project milestones for the UAE Battery Anode Facility, mine expansion studies, and other developments related to NextSource’s graphite-based battery materials strategy.
NextSource Materials (OTCQB: NSRCF) executed a non-binding letter of intent with a major Japanese anode producer to negotiate two concurrent, multi-year supply agreements for anode active materials (AAM) starting in 2027.
Together with a binding Mitsubishi offtake for ~9,000 tpa, these potential agreements would fully utilize and exceed the expected 14,000 tpa Phase 1 capacity at the proposed Abu Dhabi Battery Anode Facility. Pricing will use a market-linked mechanism; final terms and technical qualifications remain to be completed.
NextSource Materials (OTCQB: NSRCF) executed a non-binding LOI with Hanwa and Japanese government agency JOGMEC for a potential project-level equity investment of up to US$30 million in the Company's UAE Battery Anode Facility (BAF), potentially ~15% equity on completion of Phase 1 funding.
The LOI provides exclusivity to March 31, 2026, advances progress toward a planned Final Investment Decision by end Q1 2026, and contemplates Japanese offtake, logistics support from Hanwa, and a long-term graphite feedstock supply link to NextSource's Molo mine.
NextSource Materials (OTCQB: NSRCF) finalized multiple non-binding term sheets with strategic investors to fund Phase 1 of its proposed Battery Anode Facility (BAF) in the Industrial City of Abu Dhabi, UAE. The term sheets envisage project-level equity investors potentially acquiring up to 50% of the UAE BAF and funding their pro rata share of Phase 1 capital costs.
The company completed a site visit on Nov 25, 2025, is progressing technical work with engineering partner Stantec, and is targeting a final investment decision (FID) by the end of Q1 2026. Agreements remain subject to customary conditions and ongoing due diligence.
NextSource Materials (OTC:NSRCF) announced the arrival of the first shipment of long‑lead equipment for its proposed Battery Anode Facility (BAF) in Abu Dhabi, UAE on January 7, 2026.
The equipment is destined for a pre‑existing industrial building in the Industrial City of Abu Dhabi (ICAD), which the company says will reduce construction needs and accelerate schedule by focusing effort on process installation and operational readiness.
NextSource also reports FEED work has advanced to schematic design, increasing technical and cost definition to inform the Final Investment Decision (FID); full procurement, installation, commissioning, and ramp‑up remain subject to a successful FID.
NextSource Materials (OTCQB: NSRCF) reported the results of its virtual Annual Meeting held December 30, 2025. Shareholders re-elected all board nominees with overwhelming support, with individual director vote-for percentages ranging from 99.5% to 99.7%. The appointment of PricewaterhouseCoopers LLP as auditor for the fiscal year ending June 30, 2026 was approved with 99.9% support. A total of 101,161,308 common shares, representing 54.7% of outstanding voting shares, were represented at the meeting. The release also reiterates operational progress: the Molo graphite mine has begun Phase 1 production and the company is developing a Battery Anode Facility (BAF) in the UAE.
NextSource Materials (OTCQB: NSRCF) hosted a November 25, 2025 site visit at the secured industrial building in ICAD, Abu Dhabi, for its first commercial-scale Battery Anode Facility (BAF). The 30,000 tpa UAE BAF was validated by an October 1, 2025 technical and economic study and is intended to supply a binding multi-year offtake of ~9,000 tpa intermediate anode material to Mitsubishi Chemical Corporation. Stantec is advancing FEED; long-lead equipment procurement and initial equipment shipments have commenced. Target milestones: installation/commissioning toward end-2026 and initial production in Q4 2026, subject to final funding and permits.
NextSource Materials (OTCQB:NSRCF) announced an increase to its drawdown credit facility with Vision Blue Resources by up to US$10 million on October 29, 2025, potentially raising the total facility to US$30 million.
The incremental funding is intended to advance technical work and investor negotiations for NextSource's UAE battery anode facility (UAE BAF), support the Molo mine and its expansion, and is drawable in tranches (next tranche US$5 million).
Terms: interest accrues at 15% per annum, the loan is repayable on demand, and the facility remains secured by company assets. Vision Blue holds 47.68% of NextSource, so the transaction is a related-party arrangement approved by the board with one director recused.
NextSource Materials (OTCQB: NSRCF) confirmed on October 17, 2025 that operations at its Molo Graphite Mine in southern Madagascar and shipments of SuperFlake® graphite concentrate remain uninterrupted despite the current political situation in Madagascar.
Mining and processing at Molo are running under normal conditions with regular campaign production and logistics schedules. Shipments are proceeding from the port of Tulear without disruption. The company said it is engaging with community stakeholders and continuing social development programs, while monitoring events in Antananarivo (about 900 kilometres from Molo) and will provide updates if warranted.
NextSource Materials (OTCQB:NSRCF) has announced positive results from a technical and economic study for its proposed 30,000 tonnes per annum (tpa) battery anode facility (BAF) in the UAE, along with securing an industrial site in Abu Dhabi. The project demonstrates compelling economics with a total capital cost of US$291 million and a post-tax NPV8% of US$442 million with a 24% IRR.
The facility will be developed in two phases, with Phase 1 requiring US$150 million to deliver 14,000 tpa of anode active material (AAM), exceeding Mitsubishi Chemical's initial requirement of 9,000 tpa. At full production, the facility is projected to generate average annual revenues of US$195 million and EBITDA of US$76 million. Initial production is planned for Q4 2026, with full production expected in early 2028.
The secured site in Abu Dhabi's Industrial City (ICAD) features an existing building requiring minimal modification and is strategically located with access to ports, logistics infrastructure, and major shipping routes.
NextSource Materials (OTCQB:NSRCF) has signed a significant multi-year offtake agreement with Mitsubishi Chemical Corporation (MCC) to supply approximately 9,000 tonnes per annum of anode active material (AAM) for North American EV markets. The partnership involves NextSource producing intermediate AAM at a planned Battery Anode Facility (BAF) in the Middle East, which MCC will process into final AAM at its Japan plant for EV battery cell manufacturing.
The agreement represents a crucial step in NextSource's vertical integration strategy, with production expected to commence in 2027. The company is prioritizing BAF development in the UAE and expanding its Molo mine in Madagascar to ensure sufficient graphite feedstock supply. This strategic move gains additional significance following the recent 160% U.S. tariff on Chinese graphite imports.
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