Madagascar - Mines - High-quality graphite

Located in southwestern Madagascar, Molo is one of the best-known and highest-quality flake graphite deposits in the world. The quality of its flake graphite has earned Madagascar a worldwide reputation. NextSource Materials, a Canadian mining development company and owner of the Molo graphite project, is not the only player to recognize the value of this product. BlackEarth Minerals NL is exploring several downstream value-added graphite processing opportunities for its Maniry graphite project in the south of the country. Maniry graphite can be applied in the expandable, refractory, and lithium-ion battery industries. To this end, graphite could become Madagascar's new goldmine, particularly with the growing demand from the electric vehicle battery segment, where graphite is a key element. This is an opportunity to be seized, given that the production of nickel and cobalt, the Red Island's main export commodities, was virtually at a standstill following the economic crisis generated by the coronavirus pandemic. The price of these metals has also fallen in recent months.

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2021 is expected to be a successful year for the sector, with the resumption of operations and the launch of new activities, even the expansion of graphite production. The Molo project is among the projects set to begin this year. Its feasibility study was finalized in 2019. Based on this study, NextSource Materials intends to produce 17,000 tonnes per year for the first two years. The feasibility study for the Maniry project is currently underway. Once finalized, the engineering, procurement, construction, and management contracts will follow. Furthermore, the Indian company Tirupati Graphite plans to commission its Vatomina project in the second quarter of the year with a projected production of 6,000 tonnes per year. It remains to be seen what impact these projects will have on the country's economy in terms of revenue and job creation.