Syrah Resources to sell graphite from Mozambique to another company in China

21 December 2018

Syrah Resources has signed a binding contract with Chinese company Qingdao Langruite Graphite to provide 48,000 tonnes of graphite to be extracted from the Balama mine in Mozambique, the Australian company said.

The agreement, which includes both fine and coarse graphite flakes, includes an option for Syrah to provide an additional 12,000 tonnes.

Langruite Graphite, based in Shandong, is related to Qingdao Guangxing Electronic Materials, with which Syrah Resources carried out spot deals earlier this year.

Syrah Resources announced in November it had signed a contract to sell graphite from the Balama mine in northern Mozambique to Chinese company Qingdao Freyr Graphite Co., Ltd.

The contract signed with Qingdao Freyr Graphite for the supply of 6,000 tons of graphite over the next 12 months is the first signed with a company from China for the supply of coarse graphite flakes.

Syrah Resources is involved in a graphite extraction project in Balama, Cabo Delgado, northern Mozambique, which since the beginning of exploration and processing in November 2017 has produced more than 160,000 tons of graphite, much of which has already been exported through the port of Nacala, in the province of Nampula. (macauhub)