https://www.miningweekly.com

Syrah signs supply deal with Japanese major

2nd March 2016

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – Graphite developer Syrah Resources has signed a three-year offtake agreement with Japanese major Marubeni Corporation, giving it exclusive rights to sell flake graphite from the Balama project, in Mozambique, in Japan and Korea.

Under the terms of the agreement, Marubeni would purchase some 20 000 t/y of flake graphite from Syrah, across various size fractions, with the Japanese firm then marketing the products to its customers.

Product prices would be negotiated on a quarterly basis.

“This agreement represents another significant offtake agreement that we have signed in the traditional flake graphite market. Syrah has worked closely with Marubeni for over 14 months to successfully complete product qualifications and due diligence with various potential customers in Japan and Korea,” said Syrah MD Tolga Kumova.

In January this year, Syrah signed a statement of sales intent with raw materials supplier Hiller Carbon, granting the company exclusive rights to sell natural graphite recarburiser in the US, Canada and Mexico. Hiller Carbon was likely to purchase between 25 000 t/y and 35 000 t/y of recarburiser from the Balama project.

A 2015 feasibility study estimated that the Balama project would require capital investment of about $138-million to deliver a 380 000 t/y operation. During the first ten years of operation, the mine was expected to produce at an average rate of 365 000 t/y graphite concentrate and deliver a free cash flow of $160-million a year.

Edited by Creamer Media Reporter

Comments

Latest News

Resources Watch
Resources Watch
27th March 2024
Ironveld smelter
Ironveld ramp-up slower than expected
Updated 57 minutes ago By: Darren Parker

Showroom

Aqs image
AQS Liquid Transfer

AxFlow AQS Liquid Transfer (Pty) Ltd is an Importer and Distributor of Pumps in Southern Africa

VISIT SHOWROOM 
Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.895 0.933s - 88pq - 2rq
Subscribe Now