NextSource hosts investor visit at Abu Dhabi anode site

Executive Summary

• NextSource Materials hosted a site visit for potential investors and sovereign-linked stakeholders at its secured battery anode facility (BAF) location in the Industrial City of Abu Dhabi (ICAD), UAE, on November 25, 2025.
• The company is advancing the development of a 30,000 tpa facility designed to fulfill a binding multiyear offtake agreement with Mitsubishi Chemical Corp. (MCC) for approximately 9,000 tpa of intermediate active anode material (AAM).
• Front-end engineering and design are underway with partner Stantec, procurement of long-lead equipment has commenced, and the company is in final-stage financing discussions following the investor visit.

Key Details

• Site Visit Details: Held on Nov. 25, 2025, at the secured industrial building in ICAD, UAE. Attendees included global/regional investors, sovereign-linked stakeholders, and financial institutions evaluating participation in the strategic funding process.
• Facility Specifications: The UAE BAF is a 30,000 tpa facility, validated by a technical and economic study dated Oct. 1, 2025. It provides immediate capacity for MCC volumes with headroom for additional offtake agreements.
• MCC Agreement Terms: Announced Aug. 5, 2025, NextSource is the sole supplier of ~9,000 tpa of intermediate AAM produced from Molo graphite concentrate. MCC handles final processing/coating in Japan before delivery to a major OEM’s EV battery cell manufacturing facilities in North America.
• Project Timeline:
  • Procurement of long-lead item equipment has commenced.
  • Shipment of BAF processing equipment has started.
  • Target for installation phase: Post-permitting and funding.
  • Target for commissioning: End of 2026.
  • Target for initial production: Q4 2026.
• Engineering & Technology: Partnering with Stantec for front-end engineering and design. The plant design uses proven process technology to reduce qualification times.
• Strategic Context: The UAE facility is central to NextSource’s vertical integration strategy, aiming to become the largest anode producer outside of Asia. The location offers proximity to deepwater ports, domestic raw materials, and customer markets.

Notable Quotes

• Hanre Rossouw, President and CEO: "We were delighted to welcome potential funding partners to our Abu Dhabi property to witness the scale and readiness of our secured facility. The engagement and interest we continue to receive from both local and global investors underscores the strategic significance of establishing a major anode facility in the UAE."