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Highlights
- New executive role created to streamline operations
- Nick Miller takes charge amid Molo mine's expansion phase
- Operational restructuring aligns with long-term growth goals
NextSource Materials Inc. (TSX:NEXT) has announced a key leadership change as part of a broader operational restructuring aimed at boosting efficiency and driving the next phase of development at its flagship Molo graphite mine in Madagascar.
The company shared that Johnny Velloza will step down from his position as interim Chief Operating Officer after a tenure that focused on streamlining operations and laying the groundwork for production scaling. In his place, NextSource has appointed Nick Miller as acting Executive Vice President of Operations—a newly created role that consolidates the duties of both the Chief Operating Officer and General Manager.
Miller brings with him a robust background in global mining operations. Prior to joining NextSource, he served as Director of Risk Controls at the company. His experience includes senior positions at mining giants such as Rio Tinto [(ASX:RIO)] and ArcelorMittal, where he was involved in key development projects including Rio Tinto's Oyu Tolgoi copper-gold project in Mongolia. He also led major operational initiatives at ArcelorMittal Mining, bringing a depth of insight into strategic growth and risk mitigation.
“Nick’s experience will be pivotal as we continue to optimize operations and build the foundation for the next phase of Molo’s expansion,” said Hanré Rossouw, CEO of NextSource. The company emphasized that Miller’s appointment aligns with its long-term strategy to not only advance the current Phase 1 of the Molo project but also prepare for its Phase 2 expansion.
This leadership transition comes at a time when investors are closely watching resource companies with exposure to electric vehicle supply chains, in which graphite plays a critical role. Molo’s continued development could position NextSource to be a significant contributor in this space, especially as global demand for battery materials accelerates.
While NextSource does not currently feature among traditional ASX dividend stocks, its growth trajectory and sector alignment keep it on the radar for those monitoring evolving trends within the mining sector. Moreover, the company’s global strategy could have implications for broader index performance, aligning it with the kind of operational ambitions often seen in ASX200 constituents.
With fresh leadership and a clear roadmap, NextSource is positioning itself to move decisively through its current development phases and into a future shaped by high-performance mining operations and growing global demand.
