NextSource Materials announces FID for UAE Battery Anode Facility

NextSource Materials (NSRCF) announced that it has approved a Final Investment Decision on Phase 1 of its proposed Battery Anode Facility in the Industrial City of Abu Dhabi, UAE. The approval follows the successful completion of Front-End Engineering Design, which confirmed the robust economics and project configuration outlined in the October 2025 BAF Study. The FEED results provide strong technical validation of the project’s design, capital profile, and operating parameters, reinforcing the Company’s confidence in advancing the UAE BAF as its next phase of growth. Despite the conflict in the Middle East having inevitably delayed some work streams, proceeds from the Company’s recent C$25MLIFE offering were effectively deployed, enabling completion of the FEED Study, progression of the Molo Expansion Feasibility Study, and continued progress toward BAF project financing. The FID authorizes the Company to proceed into the pre-EPC mobilization phase, including finalization of the property agreements and approvals, awarding certain early works contracts, progressing environmental and permitting activities, and initiating long lead procurement for key equipment. This phase will also enable the commencement of equipment shipments from China and Mauritius, and the hiring of essential project personnel.