NextSource Materials Secures Term Sheets for UAE Battery Anode Facility

NextSource Materials Inc., a Canadian company listed on the Toronto Stock Exchange, has completed term sheets with strategic investors to fund the first phase of its proposed Battery Anode Facility in Abu Dhabi, UAE. This marks a significant milestone in their strategic financing efforts, moving towards a final investment decision.

The agreements involve local sovereign-linked entities and a Japanese consortium, potentially acquiring a 50% interest in the project. These non-binding sheets are subject to standard conditions, with the company working on finalizing a funding structure.

CEO Hanré Rossouw highlighted the partnerships as validation of the company's strategy to establish secure anode supply chains outside China. Progress towards the final investment decision is ongoing, with equipment procurement and installation planned following approval.