Syrah Resources has announced a binding term sales agreement with Qingdao Langruite Graphite for the sale of a minimum of 48 000 tonnes of natural graphite from the Balama mine in 2019.
Image: Syrah Resources signs agreement with Langruite for graphite sale. Photo courtesy of rawpixel on Unsplash.
- The Agreement is for a minimum of 48kt of natural graphite from Balama in 2019, with an additional 12kt at Syrah’s option
- The Agreement includes sale of both fine and coarse flake products, across a range of fixed carbon grades
- All other terms of the Agreement are confidential
- Langruite, based in Shandong, China is a related entity of Qingdao Guangxing Electronic Materials (Guangxing), with whom Syrah has developed spot business over 2018
- Guangxing is active across all major segments of the graphite market, including spherical graphite and refractory materials from their own facilities and trading activities
Shaun Verner, Managing Director and CEO said, “Syrah continues to establish itself as a significant supplier of natural graphite into China. Our relationship with Langruite will enable further diversification of Balama graphite sales across a range of end uses and provides flexibility in product delivery. We look forward to a successful relationship with Langruite.”
Source: Company Press Release