NextSource Materials Plans Battery Anode Facility in Saudi Arabia
NextSource Materials, a Canadian mining company, has announced ambitious plans to build a state-of-the-art battery anode facility in Saudi Arabia to produce graphite for electric vehicles (EVs). According to a technical study released on Thursday, the proposed plant is expected to produce 20,000 tonnes of graphite anode active material annually within the first 16 months of operation. This project is part of NextSource’s broader strategy to develop an anode processing hub over the next five years, targeting a total production capacity of up to 100,000 tonnes per year of coated spheronised purified graphite.
Expansion and Production Goals
In June, NextSource began producing graphite concentrate at its Molo mine in southern Madagascar. The output supplies major EV manufacturers such as Tesla and Toyota. The company aims to achieve a phase 1 nameplate capacity of 17,000 tonnes per year of graphite concentrate by next month.
Looking ahead, the company has set a phase 2 production target of reaching 150,000 tonnes per year of graphite within two years, a significant increase from the current 45,000 tonnes per year reported in September. Notably, NextSource’s 4GWh solar and battery hybrid power plant at the Molo site achieved full operational status in October, capable of supplying one-third of the plant’s power needs.
In April, NextSource signed a long-term lease agreement to build a second graphite plant in the Freeport Zone of Port-Louis, Mauritius. Initially, this facility will have a nameplate capacity of 3,600 tonnes per year of battery-grade graphite, with plans to scale up to 14,400 tonnes per year by next year, pending successful negotiations with the government.
Diversifying Global Supply Chains
Additionally, the company is exploring potential expansions into the UAE and North America as part of its strategic effort to diversify global supply chains for battery-grade graphite anodes. Trade data indicates that China accounted for over 80 million kilograms of flake graphite imports last year, representing 83% of global imports, underscoring the critical need for diversified sources of this essential raw material for natural graphite anodes.
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