on NextSource Materials Inc. (CVE:NEXT)
NextSource Secures Strategic Investment for UAE Anode Facility
NextSource Materials Inc. has signed a letter of intent (LOI) with Japan's Hanwa Co., Ltd. and the Japan Organization for Metals and Energy Security (JOGMEC) for a strategic investment of up to $30 million in its UAE Battery Anode Facility (BAF). This represents a significant milestone in establishing a diversified battery anode supply chain.
The investment, facilitated through a joint investment vehicle by Hanwa and JOGMEC, is set to purchase a 15% equity interest in the UAE facility. The planned capacity development will begin with 14,000 tonnes per annum of graphite anode material, expanding to 30,000 tpa.
The LOI includes terms for potential Japanese offtake agreements and logistic services. A finalized investment depends on further negotiation and regulatory approvals. This development affirms NextSource's global supply chain ambitions.
R. H.
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