Magnis signs 25 000 t/y graphite sales deal with World Group

1st December 2017 By: Natasha Odendaal - Creamer Media Senior Deputy Editor

JOHANNESBURG (miningweekly.com) – ASX-listed Magnis Resources has entered into a three-year flake graphite sales agreement with major European group World Plastik ve Petrokimya Sanayi ve Ticaret.

Magnis will supply the World Group subsidiary with 15 000 t/y of super jumbo flake graphite and 10 000 t/y of jumbo flake graphite from the Nachu project, in Tanzania, as well as from other mines that produce graphite based on the agreed specifications.

“[This] announcement is significant for the company and is one of the very few sales agreements in the marketplace with fixed pricing. It highlights the substantial demand that exists for high-purity super jumbo and jumbo flake,” Magnis chairperson Frank Poullas said on Friday.

First delivery expected in 2019, with overall pricing exceeding the forecasts used in the Magnis bankable feasibility study.