Australia's Syrah Resources falls on third extension to Tesla graphite deal

Syrah Resources

19/01/2026 24:07

** Shares of Syrah Resources SYR.AX fall as much as 6.6% to A$0.285, hitting their lowest level since December 22

** Stock logs its biggest intraday pct loss since January 8

** The miner agrees with Tesla TSLA.O to extend for third time a deadline to resolve an alleged breach of their graphite supply agreement

** Companies have now agreed to push the cure deadline to March 16, 2026

** Original September 16 deadline was extended to November 15 before being pushed to January 16

** SYR says Tesla also retains right to terminate deal if active anode material supplied by Syrah does not meet its technical specifications by February 9

** Stock up over 70% in 2025

 (Reporting by Rajasik Mukherjee in Bengaluru)

 ((Rajasik.Mukherjee@thomsonreuters.com))