No 1 source of global mining news and opinion
NextSource Materials says it will cost $280 million to build a new graphite anode plant in Saudi Arabia for electric vehicles as the company expands globally.
The Saudi Arabia project has an after-tax net present value of $677 million at an 8% discount rate and an internal rate of return of 20.3%, the study shows. Construction and $12 million in working capital are to be funded through equity, although NextSource says it’s in debt financing discussions and would consider a joint venture.
Saudi Arabia is keen to act as a regional financing hub at the nexus of Africa, Asia and the Middle East. It’s been offering foreign investors full ownership of projects, co-funding of up to three-quarters of capital spending, five years free of royalties, a 20% corporate tax and 30% discounts on local processing.
Decisions on when to build and how large depend on the site, offtakes for anode active material, and securing project funding and permits, the company said. Commercial production could start 16 months after construction begins, it said.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Sennheiser’s AirPods alternatives are down to $150 from $280The Sennheiser Momentum True Wireless 3 earbuds, which offer adaptive noise cancellation and customizable output, are on sale for only $150 from Crutchfield.
Read more »
Dell’s best cheap laptop just got $220 cheaper — only $280The Dell Inspiron 14 is super lightweight and portable. It's now highly affordable too while it's on sale for a limited time only.
Read more »
Grab this TCL 55-inch 4K TV while it’s only $280 at Best BuyBest Buy has reduced the TCL 55-inch S5-Series 4K TV even lower than before meaning it's a perfect bargain for many homes.
Read more »
From Chugging Cold Brew To Packing Coolers, This Countertop Ice Maker Is Officially Saving Every Moment of My SummerSale price: $280 (Original price: $359)
Read more »
NextSource signs mandate letter with World Bank for $91 million mine expansion fundingNo 1 source of global mining news and opinion
Read more »
Saudi Arabia Holds First-ever Fashion Awards, Presented by Saudi Fashion Council and Chalhoub GroupWWD presented awards to Norma Kamali for International Designer of the Year and Loro Piana for International Brand of the Year.
Read more »