Armadale Capital

NextSource Materials has received its Global Environmental Permit for the Molo Graphite Project in Madagascar.  

Madagascar: With this latest announcement, and the announcement in February this year that NextSource had received its 40-year mining permit, the company has now secured the two most important permits for its Molo project.

NextSource president and ceo Craig Scherba commented, “The approval of the Global Environmental Permit so quickly after the granting of our mining permit is a significant achievement for the company. It was the culmination of extensive community consultations and environmental impact assessments while proactively working with all stakeholders.

“Our choice to adopt IFC and World Bank Performance Standards greatly assisted us during this process and reflects NextSource’s commitment to responsible environmental stewardship and will ensure that the Molo graphite project will adhere to and operate at the highest international benchmark for environmental standards.”

Operational readiness team in place

NextSource is now implementing the financing and operational readiness initiatives required for construction of the Molo Graphite Project.

The company’s management is currently in South Africa meeting with the engineering and operational readiness team for the Molo project.

Erudite Strategies will oversee all aspects regarding the operational readiness of the Molo project as the company now begins preparations for the procurement of mine infrastructure. Erudite Strategies has began the following: 

  • Formation of the Molo mine operating team
  • Reviewing of all mine-item cost structures to ensure that the project is optimally prepared for the implementation phase; and
  • Assisting in the execution of the mine plan schedule with specific focus on cost and time management control

The Molo graphite project is a feasibility-stage 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.