NextSource Materials Announces Executive Transition to Drive Molo Mine Optimization and Prepare for Future Expansion
NextSource Materials (NSRCF) announces a key executive transition as Johnny Velloza steps down from his position as Interim Chief Operating Officer. Nick Miller has been appointed as Acting Executive Vice President, Operations, consolidating the roles of Interim COO and General Manager. Miller, previously Director of Risk Controls at NextSource, brings significant experience from roles at Rio Tinto's Oyu Tolgoi and ArcelorMittal Mining. The transition aims to streamline management structure and optimize operations at the Molo mine, focusing on Phase 1 optimization and preparation for Phase 2 expansion.
NextSource Materials (NSRCF) annuncia un'importante transizione dirigenziale con Johnny Velloza che lascia il ruolo di Chief Operating Officer ad interim. Nick Miller è stato nominato Vicepresidente Esecutivo ad interim per le Operazioni, unificando le funzioni di COO ad interim e Direttore Generale. Miller, ex Direttore del Controllo dei Rischi presso NextSource, vanta una significativa esperienza maturata in ruoli presso Oyu Tolgoi di Rio Tinto e ArcelorMittal Mining. Questa transizione mira a semplificare la struttura gestionale e ottimizzare le operazioni nella miniera Molo, concentrandosi sull'ottimizzazione della Fase 1 e la preparazione per l'espansione della Fase 2.
NextSource Materials (NSRCF) anuncia una transición ejecutiva clave con la renuncia de Johnny Velloza a su puesto como Director de Operaciones interino. Nick Miller ha sido nombrado Vicepresidente Ejecutivo interino de Operaciones, consolidando los roles de COO interino y Gerente General. Miller, anteriormente Director de Control de Riesgos en NextSource, aporta una amplia experiencia adquirida en puestos en Oyu Tolgoi de Rio Tinto y ArcelorMittal Mining. La transición busca simplificar la estructura de gestión y optimizar las operaciones en la mina Molo, enfocándose en la optimización de la Fase 1 y la preparación para la expansión de la Fase 2.
NextSource Materials (NSRCF)는 임시 최고운영책임자(Interim COO)인 Johnny Velloza가 물러난다는 중요한 경영진 변동을 발표했습니다. Nick Miller가 임시 COO와 총괄 관리자 역할을 통합하여 임시 운영 부사장(Executive Vice President, Operations)으로 임명되었습니다. Miller는 이전에 NextSource의 위험 관리 책임자로 재직했으며, Rio Tinto의 Oyu Tolgoi와 ArcelorMittal Mining에서의 경험을 가지고 있습니다. 이번 전환은 Molo 광산의 관리 구조를 간소화하고 1단계 최적화 및 2단계 확장 준비에 집중하여 운영 효율성을 높이는 것을 목표로 합니다.
NextSource Materials (NSRCF) annonce un changement clé au sein de sa direction avec le départ de Johnny Velloza de son poste de Directeur des opérations par intérim. Nick Miller a été nommé Vice-Président Exécutif par intérim des opérations, regroupant les fonctions de COO intérimaire et de Directeur Général. Miller, ancien Directeur du contrôle des risques chez NextSource, possède une solide expérience acquise chez Oyu Tolgoi de Rio Tinto et ArcelorMittal Mining. Cette transition vise à simplifier la structure de gestion et à optimiser les opérations de la mine de Molo, en se concentrant sur l’optimisation de la phase 1 et la préparation de l’expansion de la phase 2.
NextSource Materials (NSRCF) gibt eine wichtige Führungsänderung bekannt: Johnny Velloza tritt von seiner Position als Interim Chief Operating Officer zurück. Nick Miller wurde zum amtierenden Executive Vice President Operations ernannt und vereint die Rollen des Interim COO und General Managers. Miller war zuvor Direktor für Risikokontrollen bei NextSource und bringt umfangreiche Erfahrungen aus Stationen bei Rio Tintos Oyu Tolgoi und ArcelorMittal Mining mit. Die Umstrukturierung zielt darauf ab, die Managementstruktur zu straffen und die Abläufe in der Molo-Mine zu optimieren, mit Fokus auf die Optimierung der Phase 1 und die Vorbereitung der Expansion in Phase 2.
- Streamlined management structure through consolidation of COO and General Manager roles
- Appointment of experienced executive Nick Miller with background in major mining projects
- Strategic focus on both current operations optimization and future expansion
- Loss of experienced Interim COO Johnny Velloza
- Organizational restructuring may cause temporary operational adjustments
TORONTO, ON / ACCESS Newswire / May 1, 2025 / NextSource Materials Inc. (TSX:NEXT)(OTCQB:NSRCF) ("NextSource" or the "Company") announces that Mr. Johnny Velloza will be stepping down from his position as Interim Chief Operating Officer, following a successful tenure during which he provided critical operational oversight and implemented key recommendations for process optimization at the Molo mine.
Mr. Velloza's responsibilities will be transitioned to Mr. Nick Miller, who has been appointed as Acting Executive Vice President, Operations. This newly consolidated role merges the responsibilities of Interim Chief Operating Officer and General Manager, enabling a more streamlined and effective management structure as part of the broader organizational restructuring of the Molo operations.
Mr. Miller, who previously served as Director of Risk Controls at NextSource, brings extensive expertise in global mining project development to this position. His impressive track record includes pivotal roles at Oyu Tolgoi for Rio Tinto, where he contributed significantly to the development of one of the world's largest copper-gold projects, as well as at ArcelorMittal Mining as part of their international operational improvements and development group. His experience and leadership in high-stakes, multi-jurisdictional mining operations position him fittingly to oversee the continued optimization of Phase 1 of the Molo mine and to lay the groundwork for Phase 2 expansion of the Molo project.
President and CEO, Hanré Rossouw, commented:
"I would like to thank Johnny Velloza for his significant contributions to the Molo project and wish him continued success in his future endeavours. The appointment of Nick Miller marks an important step in our evolution, ensuring continued strong operational leadership as we focus on optimizing Phase 1 and advancing Phase 2 of the Molo mine. Nick's experience will be pivotal as we continue to optimize operations and build the foundation for the next phase of Molo's expansion."
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 is in production, with Phase 1 mine operations currently being optimized.
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 nextsourcematerials.com
Investors may contact: Brent Nykoliation, Executive Vice President +1.416.364.4911 brent@nextsourcematerials.com
Cautionary Note
This press release contains statements that may constitute "forward-looking information" or "forward-looking statements" within the meaning of applicable Canadian and United States securities legislation. Readers are cautioned not to place undue reliance on forward-looking information or statements. Forward looking statements and information are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "potential", "possible" and other similar words, or statements that certain events or conditions "may", "will", "could", or "should" occur. Forward-looking statements include any statements regarding, among others, timing of commissioning and achievement of nameplate capacity, including the processing plant, process improvements and mine plant adjustments as well as production estimates and timing thereof, the rollout of Battery Anode Facilities including the capabilities and the timing thereof. These statements are based on current expectations, estimates and assumptions that involve a number of risks, which could cause actual results to vary and, in some instances, to differ materially from those anticipated by the Company and described in the forward-looking statements contained in this press release. No assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do so, what benefits the Company will derive there from. The forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements, whether because of new information, future events or otherwise, except as may be required by applicable securities laws. Although the forward-looking statements contained in this news release are based on what management believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with them. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release.
SOURCE: NextSource Materials Inc.
View the original press release on ACCESS Newswire
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