Nextsource Materials Inc. (TSX:NEXT, OTCQB:NSRCF) is bringing on seasoned mining and resources executive Hanré Rossouw as president and CEO.
Rossouw, a British and South African national, will bring his extensive experience in the global natural resources industry spanning over 25 years to lead NextSource.
He will initially join the Board as a Director starting September 1 and take on the CEO role effective November 1.
Rossouw joins NextSource from his previous role as Executive Director and Chief Financial Officer of Sasol Limited. Throughout his career, he has held senior positions in leading global mining and investment companies, focusing on business development, mergers and acquisitions, capital markets, asset management, and growth optimization.
"Embracing an electrified future is a critical route to decarbonization, but building a mining and processing business with global operations is a significant undertaking,” Rossouw said in a statement.
“NextSource possesses unique fundamentals - a large-scale, high-quality resource, with downstream growth options and strong network of partners - making the company a highly attractive value proposition with substantial upside optionality. I look forward to supporting the Company and its stakeholders in building a sustainable future and especially working with Craig Scherba and the management team."
Craig Scherba, the current President and CEO of NextSource, will transition to the role of Director and Chief Development Officer, focusing on developing strategy, managing offtake negotiations, and expanding NextSource's global Original Equipment Manufacturer relationships.
Scherba told NextSource shareholders in a statement that Rossouw's expertise aligns with the company's priorities for the coming decade, particularly in scaling the business to meet the decarbonization goals of the battery industry.
Sir Mick Davis, Chair of the Board, expressed confidence in the company's trajectory, praising Scherba's stewardship and welcoming Rossouw's appointment. "The Company has built significant optionality under Craig's committed stewardship and is poised for its next phase of growth as a key player in the global supply of graphite products; I am delighted that we continue to benefit from his invaluable support as a Director and Chief Development Officer. On behalf of the Board, we look forward to working with Hanré in the years ahead to support expansion of mine output, deliver a build-out of downstream options and manage a growing capital base."
NextSource's Molo Graphite Mine in Madagascar, known for its SuperFlake graphite, has commenced production, with Phase 1 operations currently undergoing ramp-up to reach its nameplate production capacity.
The company is also advancing its downstream graphite value-add business through the staged rollout of Battery Anode Facilities, aimed at large-scale production of coated, spheronized, and purified graphite for direct delivery to battery and automotive customers.