TSX: NEXT|OTCQB: NSRCF
TSX: NEXT|OTCQB: NSRCF
Sustainability
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:
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.
Wish to know more about our corporate policies and financial statements?
Email: info@nextsourcematerials.com
Director
Mr. Kruba is Vice-President and Legal Counsel to Nostrum Capital Corporation and a number of related corporations that are part of the Toldo Group, headquartered in Windsor, Ontario. The Toldo Group is composed of several privately held corporations in Canada and the United States, some of which have large manufacturing operations in diversified sectors and others which are involved in active and passive investments across capital markets throughout North America, Europe and Africa. In addition to his responsibilities as counsel to the Toldo Group, Mr. Kruba serves as corporate secretary to all the companies, is a member of Group’s investment committee and he serves on the board of directors of many of the companies.
Mr. Kruba has extensive manufacturing and capital markets experience and has led merges and acquisitions and participated in the management and strategic planning for numerous companies, including venture capital corporations in which the group has invested in.
Nostrum Captial Corporation and Mr. Kruba personally have been investors in NextSource Materials Inc. since 2011 and he joined the Board in 2019.
General Manager, Molo Mine
Wilhelm Reitz is a mine management professional with 28 years of experience in the global mining sector, with the last 11 years focussed on critical minerals and in developing technologies through design, engineering, and research on graphite.
Mr. Reitz held senior management roles with AfriGold in Senegal and West African Diamonds in Sierra Leone and Guinea. Prior to joining NextSource, he was involved in developing and managing graphite mines in Madagascar for Stratmin Global and Greenwing Resources.
Mr. Reitz holds a BSB Diploma in Leadership and Management and studied with AIM in Australia, Faculty of Management.
Chief Financial Officer
Mr Johnson is a bilingual senior executive with over 25 years of business experience, including 10 years at public corporations as CFO, VP Corporate Development and other financial management positions, and 10 years in capital markets in investment banking and equity research. Mr. Johnson is a Chartered Financial Analyst (CFA) and a Chartered Professional Accountant (CPA) and joined NextSource as CFO in October 2015.
He also holds a Bachelor of Commerce (Finance) from the John Molson School of Business at Concordia University in Montreal.
VP, Special Projects
Mr. Stokes joined NextSource in 2022, during his career he has been responsible for providing project management support across a diverse portfolio of projects in mining, infrastructure, and nuclear industries; developing tools, implementing best practices and mentoring apprentices.
Mr. Stokes holds degrees in Engineering and Business and has a qualification in Project Management from the Association for Project Management.
Executive Vice President
Mr. Nykoliation joined the senior management team at NextSource Materials as Vice President, Corporate Development in 2007 and oversees all communication with analysts, institutional investors and strategic offtake partners for the Company. He brings over 20 years of management experience, having held senior marketing and strategic development positions with several Fortune 500 corporations in Canada, notably Nestlé, Home Depot and Whirlpool.
Mr. Nykoliation holds a Bachelor of Commerce with Honors degree from Queen’s University.
Director, Chief Operating Officer
Mr. Borley is an experienced mining engineering professional and a certified mine manager with more than 35 years of international mining experience building and operating mining ventures. He started his career as a mining engineer in 1986 at BHP Billiton, and after 11 years, went on to hold senior management positions both internationally and within the South African mining industry. Prior to joining NextSource in 2013 he served as Mining Director for DRA Mineral Projects and prior to this was the COO of Red Island Minerals developing a Madagascar coal venture.
His diverse career has spanned resource project management, evaluation, exploration and mine development. Robin has completed several mine evaluations including operational and financial evaluations of new and existing operations across a diverse range of resource sectors. He has experience in the management of underground and surface mining operations from both the contractor and owner miner environments.
Mr. Borley holds a Btech in Mining Engineering from the University of Johannesburg.
Chair of the Board
Sir Mick Davis is a highly successful mining executive who founded Vision Blue Resources in December 2020 to identify and capture opportunities in battery and technology minerals linked to EV & Grid Storage growth. He is credited with building Xstrata Plc into one of the world’s largest global diversified mining and metals companies prior to its acquisition by Glencore Plc. Before listing Xstrata on the London Stock Exchange as CEO, he was CFO of Billiton Plc and Chairman of Billiton Coal, which he joined after serving as CFO of Eskom, South Africa’s power utility company that provides 60% of the total electricity consumed on the African continent.
During his career in mining, Sir Mick Davis has raised over US$40 billion from global capital markets and successfully completed over US$120 billion of corporate transactions, including the creation of the Ingwe Coal Corporation in South Africa; the listing of Billiton on the London Stock Exchange; the merger of BHP and Billiton; as well as numerous transactions at Xstrata culminating in the sale to Glencore Plc.
Sir Mick Davis is a Chartered Accountant by profession and holds an honors degree in Commerce from Rhodes University, South Africa and an Honorary Doctorate from Bar Ilan University, Israel.
Director, President & Chief Executive Officer
Mr. Scherba was appointed President and CEO in September 2012 and has been a director since January 2010 when he served as Vice President, Exploration of the Company. Prior to joining the Company, Mr. Scherba was a managing partner for six years with Taiga Consultants Ltd., a mining exploration consulting company. Mr. Scherba has been a professional geologist (P. Geo.) since 2000, and his expertise includes supervising large Canadian and international mineral resource exploration programs.
Mr. Scherba was an integral member of the exploration team that developed Nevsun Resources’ high grade gold, copper and zinc Bisha project in Eritrea. Mr. Scherba served as the NextSource’s Country and Exploration Manager in Madagascar during its initial exploration stage, discovering both the Molo Graphite and the Green Giant Vanadium deposits. He holds a Bachelor of Science degree in Biological Sciences, and a Bachelor of Science after-degree in Geology from the University of Alberta.
Vice President, Sustainability
Mr. Reichardt brings a practical understanding of integrating ESG into all stages of the project cycle based on a 25 year track record in operational, senior corporate and advisory roles in the resources, agricultural and renewables sectors across the developing world.
Mr. Reichardt will be based in the UK and is responsible for driving the Group’s Safety, Health, Environment, Social, Climate Change and Quality performance and initiatives.
Mr. Reichardt is a former Corporate Environmental Manager of AngloGold Ltd and holds degrees in history and restoration ecology.
Country Manager, NextSource Materials
Lydia Boarlaza joined NextSource as Country Manager in January 2021, and has had extensive management experience in the Madagascar mining sector over her career. She has served in general manager and resident manager roles for various companies including Madagascar Consolidated Mining S.A., Madagascar Oil S.A., Avana Group, Hunt Oil Madagascar, and Shell Exploration & Development Madagascar BV.
She is a member of the Board of Directors of Madagascar Chamber of Mines, member of the National Committee within the EITI Madagascar, and member of the Women in Mining and Resources Association in Madagascar.
Director
Ian Pearce has over 40 years of professional experience in the global metallurgy and mining related industries. Mr. Pearce held executive roles at Falconbridge Limited, including COO and subsequently served as CEO of Xstrata Nickel, a subsidiary of Xstrata Plc. He has also held senior engineering and project management roles managing numerous significant development projects in the mining extractives sector.
Mr. Pearce currently is a Director of New Gold Inc, where he is Chair of the Board a Director of Metso Outotec Corporation and a Director of Northland Power Inc. He is also Chair of MineSense Technologies Ltd. Mr. Pearce holds a Higher National Diploma in Engineering (Extractive Metallurgy) from the University of Johannesburg and a Bachelor of Science degree in chemistry from the University of the Witwatersrand in South Africa. Mr. Pearce’s principal occupation is as a corporate director.
Director
Mr. Whalen has around 20 years of investment banking and M&A expertise, spending 18 of those years at Dundee Corporation. During his tenure at Dundee Corp., Mr. Whalen was directly involved in completing approximately $2 billion in M&A deals and helped raise over $10 billion in capital for resource sector companies. While a Vice President and Portfolio Manager of Goodman and Company (a division of Dundee Corp.), Mr. Whalen oversaw an investment of $6 million into NextSource enabling the Company to achieve key technical milestones, notably the completion of its July 2017 Phase 1 Feasibility Study and the concept and design of the full modular build approach NextSource will be utilizing for construction of both Phase 1 and Phase 2 of the Molo Mine. Mr. Whalen has extensive knowledge of both graphite and vanadium, and the battery materials industry in general.
Mr. Whalen has held Board seats of several TSX-listed and privately held companies, and joined NextSource as a Director in 2020.
He holds a BA (Honors) degree in Economics and Finance from Wilfrid Laurier University.
