MINING NEWS
Germany’s BGR assesses Molo Mine as part of critical minerals study TSX-listed NextSource Materials has
European Union’s Critical Raw Materials List, and the German Federal Government has committed significant capital to its diversification agenda — including the €1 billion Rohstofffonds (Raw Materials Fund). As one of few sources of high- quality natural flake graphite in production outside of China, Molo is well-suited to and aligned with the strategic supply
announced that a technical team from Germany’s Federal Institute for Geosciences and Natural Resources (BGR) recently attended a site visit at the company’s Molo Graphite Mine in southern Madagascar. The requested visit formed part of an independent study by the BGR on graphite production in Madagascar, financed by Germany’s Federal Ministry for Economic Cooperation and Development. BGR expressed specific interest in assessing Molo, alongside traditional graphite operations elsewhere in Madagascar, as a benchmark asset and potential supplier of natural graphite and anode material to Germany – reflecting the strategic priority the German Federal Government places on graphite as a critical raw material for German industry, the European battery supply chain, and energy security. Germany has placed critical raw materials at the centre of its industrial and energy security policy. Natural graphite is on the
Germany’s BGR recently visited NextSource Materials Molo Graphite Mine.
production company, Thyssenkrupp AG. The sales agreement comprises terms whereby thyssenkrupp is guaranteed a minimum of 7 300 tonnes per annum (tpa) of SuperFlake® graphite concentrate from Molo Phase 1 operations, and up to 35 000 tpa when Molo capacity is expanded to Phase 2. n Orion’s CEO, Tony Lennox, commented: “This is a pivotal capital raising for Orion as we begin our transition to operating mining company in the second half of 2026, and we are pleased with the outcome. We received strong support from South African investors via the JSE – which reflects Orion’s growing visibility and status in South Africa as an important new copper producer at a key time in the global metals cycle. In addition to continued support from long-standing shareholders, we also attracted several new investors onto the register.” n
objectives Germany is actively focused on. Notably, NextSource already has an established commercial link to German industry. In May 2021, NextSource executed a 10-year commercial sales agreement with thyssenkrupp Materials Trading GmbH, a division of the German industrial engineering and steel
Orion raises $15.4 million to advance local copper projects
• Commence development of the Prieska Uppers Mine when Glencore’s financing becomes unconditional; • Finalise optimisation studies, ongoing site works and resource extension drilling at the Okiep Copper Project; and • Provide working capital including ongoing work associated with the finalisation of the financing and offtake agreement with Glencore for the development of PCZM.
ASX-listed Orion Minerals has secured firm commitments to raise roughly $15.4 million via a placement to sophisticated and professional investors to advance both of its key copper projects in the Northern Cape Province of South Africa. The announcement of 9 February 2026 confirmed that Orion’s subsidiary, Prieska Copper Zinc Mine, executed a binding agreement with a subsidiary of Glencore plc for a $250 million pre-payment facility linked to the sale of bulk, copper and zinc concentrates from the Prieska Copper Zinc Project. The facility will fund the Uppers Mine Development and partially fund the Deeps Mine Development at Prieska, marking a significant step in Orion’s transition to a fully operational mining company. Orion intends to apply the funds raised from the Placement principally to: • Continue early works at the Uppers Mine at the Prieska Copper Zinc Mine (PCZM), including ongoing dewatering and site works, while project funding is being finalised;
Orion raises $15.4 million to advance local copper projects.
6 MODERN MINING www.modernminingmagazine.co.za | JULY 2026
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