Australia's EcoGraf jumps on deal to supply battery material to POSCO

Posco International

31/05/2023 02:19

** Shares of EcoGraf Ltd  EGR.AX  rise as much as 26.7% to
A$0.190 - set for their best day since Sept 29, 2022, if gains
hold
    ** Graphite producer says it signed a non-binding
cooperation agreement with South Korea's POSCO International
 047050.KS  
    ** Under the deal, EcoGraf will supply POSCO with battery
anode material products for an initial term of ten years from
the commencement of production
    ** EGR stock at its highest level since May 4
    ** Stock down ~32% YTD, as of last close

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))