The graphite company is also installing a hybrid solar and battery power plant at Molo. As noted in the statement, the hybrid power plant already houses a thermal generation facility, which is operational.

The facility's solar and battery component comprises a 2.6 megawatt (MW) solar PV facility and a 1MWh battery energy storage system. Once in operation, the hybrid system will "provide up to 33% of the mine's total electricity needs using renewable energy."

In the press release Craig Scherba, president and chief executive, praised the resilience of NextSource's team during the global pandemic and shifting geopolitical landscape.

"That hard work has placed the company in an enviable position as it transitions into a global graphite producer at a time when graphite consumption is increasing dramatically due to the explosive growth in demand for lithium-ion batteries," he said.

In late February, NextSource revealed plans to build battery anode facilities (BAFs) around the globe. The facilities aim to produce commercial-scale graphite anode material for lithium-ion batteries.

BAF1 is in Mauritius, a location chosen for its proximity to the Molo graphite project.

"NextSource is taking advantage of this tremendous market opportunity by creating a substantive niche for itself within the global lithium-ion battery supply chain through the commissioning of its first graphite mine and planned construction of its first battery anode facility," said Scherba.

The company hopes to achieve production at BAF1 during the June quarter of 2024.