Australia's Syrah Resources surges as Tesla withdraws termination notice on graphite deal
01/06/2026 01:16
BUZZ-Australia's Syrah Resources surges as Tesla withdraws termination notice on graphite deal ** Shares of Australia's Syrah Resources SYR.AX rise as much as 41.4% to A$0.140, logging their best day since October 23, 2023
** Miner says Tesla TSLA.O had withdrawn notice of intent to terminate graphite supply deal, ending months of negotiations that saw the two companies extend a resolution deadline four times
** Syrah aimed to supply 8,000 metric tons of graphite anode materials to electric vehicle maker Tesla over four-year period from its Vidalia plant in the U.S. state of Louisiana under 2021 contract
** Stock hit its highest level since April 23
** Stock down nearly 60% this year, including the day's move
(Reporting by Rajasik Mukherjee in Bengaluru)
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