Australia's Syrah Resources inks offtake deal with S. Korea's Posco Future M (updated)

Posco Future M

29/02/2024 23:01

(Adds details from paragraph 2 onwards)
       March 1 (Reuters) - Australia's Syrah Resources  SYR.AX 
said on Friday it will supply natural graphite product from its
Balama graphite operations in Mozambique to South Korean
chemical and battery material maker Posco Future M  003670.KS . 
    Under the six-year deal, Syrah will supply up to 2
kilotonnes (kt) of natural graphite per month in the year
following commissioning. This can be increased to 5kt per month,
with at least six months' notice, from the second year of the
deal to the end of term.
    The price for the natural graphite supply will be mutually
negotiated on a quarterly basis over the term of the agreement,
Syrah said.
    The deal is part of the graphite producer's strategy to
transition Balama natural graphite sales to a more
"geographically diversified and commercially aligned customer
base", it said.
    

 (Reporting by Neha Soni in Bengaluru; Editing by Shailesh Kuber
and Shilpi Majumdar)
 ((Neha.Soni@thomsonreuters.com;))