TSX-listed NextSource Materials has received conditional approval for its global environmental permit for the Molo graphite project in Madagascar.
The permit was granted from the Madagascar Ministry of Environment’s Office National pour l'Environnement (the National Office for the Environment; or ONE).
The global environmental permit will be granted to NextSource upon receiving its mining permit.
The global environmental permit was conditionally approved by the ONE based on the following accomplishments by NextSource:
- Successful completion of the environmental & social impact assessment (ESIA) and relocation action plan (RAP) t International Finance Corporation (IFC) performance standards and World Bank standards.
- Successful completion of local and regional stakeholder and community engagement, with overwhelming support from both the local community and local government, as well as the regional government.
- Successful negotiations and signed agreements with all potentially affected land occupants to accept compensation for any affected crops and grazing land, and relocation if needed.
- Successful completion of the ONE’s technical evaluation process (a 6-month process that commenced 6 June 2018) and consisted of a site visit and four separate community consultations.
- Approved capital investment certification from the Bureau du Cadastre Minier de Madagascar (the Mining Cadastre Office of Madagascar), or BCMM.
- Receipt of Cahier des Charges Miniér (mining specification) from the BCMM as pre-requisite to submitting the ESIA & RAP to ONE for review.
- Joint agreement and signature of the Cahier des Charges Environnementales (environmental specification) with the ONE, with their full support for the development of the Molo graphite project.
NextSource President & CEO Craig Scherba comments:
“The conditional approval of the global environmental permit is a significant achievement for the company, and is the culmination of extensive base line studies, community consultations and environmental impact assessments while proactively working with all stakeholders, including the Madagascar government.”
“Our choice to adopt IFC and World Bank Performance Standards during this process 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.”
With the mining permit currently being reviewed, the company expects all required approvals to be in place shortly which will allow NextSource to quickly move towards the financing and construction of the Molo graphite project.