Madagascar exports first commercial graphite concentrate to Germany and the US
Madagascar has exported its first commercial graphite concentrate to Germany and the United States in a milestone achievement. The mineral was sourced from its Molo mine in the country’s south.
NextSource Materials, a Toronto-listed mining company and a major contributor to Madagascar’s economy announced the feat last week.
CEO Craig Scherba said the shipments are intended for important demand markets. This move is significant for Madagascar’s economic development and will help the country become a key supplier of graphite to global markets.
“These initial container shipments of SuperFlake® graphite are destined for key demand markets for higher value graphite products, including refractory materials and graphite foils for consumer electronics and fire-retardant applications,” Scherba was quoted.
The Molo mine is partly backed by Mick Davis, former CEO of Xstrata, through his investment firm Vision Blue, which has a stake in NextSource.
