The shift away from fossil fuels is being driven by an international consensus that the world’s carbon footprint must be managed and reduced. Renewable energy and the electrification of vehicles are a core component of this transition.
Graphite will play a central role in this transition as it is a key battery material, and vital to other applications and technologies that will support a more sustainable world.
NextSource is committed to being part of the global energy transition by using sound social and environmental management practices at every stage of the project cycle. From the outset of development of the Molo Project, NextSource has followed and adhered to the requirements of the:
International Finance Corporation’s (IFC) Performance Standards (PS) which define companies’ responsibilities for managing environmental and social risks.
Equator Principles which are the financial industry’s benchmark for identifying, assessing and managing environmental and social risks when financing projects.
United Nationals Sustainable Developments Goals (UNSDGs)
NextSource’s sustainability framework is built around:
2023 ESG REPORT
In alignment with our collaborative and responsible approach, NextSource has engaged in a multitude of community outreach and investment programs which include:
Since the exploration programs on the Molo Project, the Company has been the largest formal employer in the region. More than two-thirds of our workforce is drawn from local and regional communities, and we continue to give preference to suitably qualified local candidates from these communities. Furthermore, we are delivering:
We recognize that mining will always have some unavoidable impacts on the environment. To ensure that these impacts are systematically minimized at all stages of the project cycle, the Molo Project Environmental and Social Impact Assessment (ESIA) was conducted in accordance with IFC Performance Standard requirements as well as Malagasy national legislation.
We have taken a holistic approach, not only minimizing our physical footprint but by planning for closure in a way that can create a long-term net positive environmental and socio-economic legacy. We do this by investing in sustainable infrastructure, in human capital and in viable, socio-economic projects which will endure beyond mining.