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NextSource extends its anode material deal with Mitsubishi to 2027 to support its UAE battery facility.
NextSource Materials has extended its binding offtake agreement with Mitsubishi Chemical for 9,000 tonnes per year of anode active material to July 31, 2027, maintaining original terms.
The delay supports NextSource’s progress on its UAE Battery Anode Facility, including financing, construction, and production milestones, backed by a recent C$25 million public offering.
The company aims to make a Final Investment Decision by March 2026.
NextSource will supply intermediate AAM to Mitsubishi’s Japan facility for processing into final material used in North American EV battery cells.
The partnership advances NextSource’s goal of becoming a major vertically integrated graphite supplier outside Asia, leveraging its SuperFlake® graphite project in Madagascar.
The company is listed on the TSX and OTCQB.
NextSource extiende su acuerdo de material de ánodo con Mitsubishi hasta 2027 para apoyar sus instalaciones de baterías en los Emiratos Árabes Unidos.