Shares of NextSource Materials (TSX: NEXT) soared on Tuesday as the graphite producer became the designated supplier of anode active materials to Japan’s Mitsubishi Chemical under a multi-year offtake agreement.
NextSource — which mines graphite from its Molo project in Madagascar — will supply 9,000 tonnes of intermediate anode materials to Mitsubishi on an annual basis, with an agreed-upon price formula that comprises both a fixed and variable component linked to the mine’s economics.
The graphite concentrate, dubbed the SuperFlake, will also go through a qualification process through technical collaboration between the parties to confirm its compliance with specific anode quality and performance requirements. This process is expected to be finalized in 2026.
The anode materials will then be processed at Mitsubishi’s facilities in Japan into a final battery product that will be shipped to…
