Nextsource Materials Inc. (TSX:NEXT, OTCQB:NSRCF) said it is making significant headway in the establishment of its inaugural Battery Anode Facility (BAF) plant in Mauritius.
The company has finalized a long-term lease agreement for a strategically positioned site within the Freeport Zone of Port-Louis, according to a release.
The chosen site within an industrial setting provides enhanced logistical efficiency with direct port access, streamlining transportation processes.
Additionally, the site features a high-quality concrete structure requiring minimal modifications, coupled with ample space to accommodate future expansion plans.
Financial benefits, stemming from the Freeport Zone designation, further bolster the project's feasibility, as goods within such zones are subject to specific customs regulations, often exempt from standard taxes and duties.
NextSource has incorporated engineering enhancements into the plant design to optimize operational efficiency and sustainability. Furthermore, the company has initiated the environmental permitting process.
Pre-orders for process equipment, boasting a production capacity of 3,600 tonnes per annum of SPG (spheronized and purified graphite) and CSPG (coated SPG), have been secured. Currently, fabrication and assembly of the process equipment are underway offshore, with plans for shipment to Mauritius upon the completion of the EIA process.
In parallel, SuperFlake graphite concentrate sourced from the Molo Mine and essential equipment for the operation of a small-scale pilot line have already been delivered to the site. These preparations aim to facilitate the production of samples for key original equipment manufacturer customers.
NextSource said it is preparing an updated economic assessment for the project site.