on NextSource Materials Inc. (CVE:NEXT)
NextSource Materials Announces UAE Battery Anode Facility Plan
NextSource Materials Inc. has announced positive outcomes from a technical and economic study regarding its proposed battery anode facility (BAF) in the UAE. The planned facility is set to produce 30,000 tonnes per annum of anode active material. This matches the company's offtake agreement with Mitsubishi Chemical and anticipates future demand increases.
The total capital cost for the facility is projected at USD 291 million, boasting a favorable NPV of USD 442 million and an IRR of 24%. Initial production is slated for late 2026, with full operation by early 2028. The facility's strategic site is located in Abu Dhabi, allowing for rapid implementation and potential expansion.
NextSource has partnered with Stantec to finalize design specifics and ensure compliance with UAE regulations. This venture represents a significant step towards the company's goal of becoming a leading global supplier, offering a secure alternative to current Asian supply channels.
R. E.
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