The Madagascar government has granted TSX-listed graphite junior NextSource Materials Inc. a 40-year mining license for its Molo graphite project.

Madagascar – The mining license does not limit mining to any specific volume, so the company will be able to produce as much SuperFlake graphite concentrate as market demand requires.

Craig Scherba, P.Geo., President and CEO of NextSource comments:

“With the receipt of the mining permit, the company can now implement the final steps in our mine development schedule towards achieving production in early 2020.”

“Madagascar has always been renowned globally for the quality of its graphite, and our Molo project will vault Madagascar to one of the largest producing regions of high-quality flake graphite in the world.”

NextSource Materials Inc. is a mine development company based in Toronto, Canada, that is developing its 100%-owned Molo graphite project in southern Madagascar.

The project is at feasibility-stage and permitted project and ranks as one of the largest-known and highest quality flake graphite deposits in the world, and the only project with SuperFlake graphite.