Madagascar - Mines - High-quality graphite

Located in southwestern Madagascar, Molo is one of the world's best-known and highest-quality flake graphite deposits. The quality of this flake graphite has earned Madagascar a global reputation. NextSource Materials, a Canadian mining development company and owner of the Molo graphite project, is not the only player recognizing the value of this product. BlackEarth Minerals NL is exploring several value-added downstream graphite processing opportunities for its Maniry graphite project in the south of the country. Maniry graphite can be used in the expandable, refractory, and lithium-ion battery industries. As such, graphite could become Madagascar's new gold mine, particularly with the growing demand from the electric vehicle battery sector, where graphite is a key component. This is an opportunity to seize, given that the production of nickel and cobalt, the island's main exports, has practically ceased following the economic crisis triggered by the coronavirus pandemic. The prices of these metals have also fallen in recent months.

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2021 is expected to be a fruitful year for the sector, with the resumption of operations, the start of new activities, and even the expansion of graphite production. The Molo project is among those slated to begin this year. Its feasibility study was completed in 2019. Based on this study, NextSource Materials intends to produce 17,000 tons per year for the first two years. The feasibility study for the Maniry project is currently underway. Once finalized, engineering, procurement, construction, and management contracts will follow. Meanwhile, the Indian company Tirupati Graphite plans to commission its Vatomina project in the second quarter of the year, with a projected production of 6,000 tons per year. The impact of these projects on the country's economy, in terms of both revenue and job creation, remains to be seen.