PERTH (miningweekly.com) – Graphite developer Syrah Resources has signed a nonbinding memorandum of understanding (MoU) with China’s BTR New Energy Materials regarding sales and supply chain cooperation.
“We are very excited about the opportunity to develop sales and supply options with BTR and we look forward to continuing the constructive discussions that have been undertaken to date,” said Syrah MD and CEO Shaun Verner.
The two companies have now started commercial discussions, with Syrah telling shareholders on Tuesday that the company’s scheduled sales and marketing investor update on April 4 has now been deferred in order to focus attention on advancing these discussions.
Syrah is developing its Balama graphite project, in Mozambique, which is expected to produce 365 000 t/y of graphite concentrate during its first ten years of production.