AMN - MADAGASCAR: Mining licence granted for Molo

NextSource Materials Inc has been granted a 40-year mining licence by the Madagascar Government for the Molo Graphite Project. The licence does not limit mining to any specific volume, which means that the company will be able to produce as much SuperFlake® graphite concentrate as market demand requires.

Detailed engineering and Front End Engineering and Design (FEED) are complete at the project in the island country's south.

Molo is a feasibility-stage and permitted project that has one of the largest-known and highest quality flake graphite deposits in the world, and the only project with SuperFlake® graphite.

NextSource president and CEO Craig Scherba said: “With the receipt of the mining permit, the company can now implement the final steps in our mine development schedule towards achieving production in early 2020.

"Madagascar has always been renowned globally for the quality of its graphite, and our Molo project will vault Madagascar to one of the largest producing regions of high-quality flake graphite in the world.”

Granting of the licence follows the receipt of conditional approval for the Global Environmental Permit.

In addition, NextSource has 100% ownership of its NI 43-101 compliant Green Giant Vanadium Project, just 12 kilometres from Molo.

www.nextsourcematerials.com