Name of the Project
Battery anode facility (BAF).

Location
NextSource plans to build multiple BAFs worldwide in key jurisdictions – Madagascar, Saudi Arabia, the United Arab Emirates and North America. Several sites are currently under consideration in Saudi Arabia. Sites under consideration are already home to a wide range of industries, including petrochemicals, refining, manufacturing and logistics. The sites offer easy access to raw materials, markets, and transport networks, making them attractive locations for the company to service domestic and international customers.

Project Owner/s
NextSource Materials.

Project Description
The proposed BAFs will be capable of producing commercial-scale graphite anode active material for lithium-ion batteries used in electric vehicle (EV) applications.

The BAF in Saudi Arabia will have a production capacity of 20 000 t/y of coated spheronised purified graphite (CSPG). NextSource is designing the plant with the expectation that it will be expanded in two phases, resulting in a total production capacity of 100 000 t/y of CSPG material.

The BAF design will be based on NextSource’s technology partner’s proprietary anode processing technology that is supplying spheronised purified graphite and CSPG material to major EV automotive companies, including Toyota and Tesla.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The proposed project will have an after-tax net present value, at an 8% discount rate, of $677-million and an internal rate of return of 20.3%, with a payback of 6.4 years.

Capital Expenditure
$280-million.

Planned Start/End Date
Full production is achievable in 16 months from the start of construction.

Latest Developments
NextSource has started design work and is completing site selection in the industrial City of Yanbu, strategically situated along major international shipping routes and supported by extensive infrastructure, including a deep-water port, industrial parks and commercial zones.

NextSource must complete site selection and prepare a feasibility study, which will incorporate the front-end engineering and design, and the environmental- and social-impact assessment permitting.

Key Contracts, Suppliers and Consultants
Stantec (conceptual design).

Contact Details for Project Information
NextSource Materials, tel +1 416 364 4911 or email investors@nextsourcematerials.com.