Australia's International Graphite secures Asia Pacific offtake agreement for graphite concentrate
ASX-listed International Graphite (IG6) has secured a three-year commercial agreement to supply graphite concentrate to Hong Kong-based trading company Wogen Pacific.
As part of the agreement, Wogen will provide product sales and marketing support for IG6's Collie Micronising facility, in Western Australia.
From the point of commercial production, Wogen will buy a minimum of 3 000 t/y of micronised graphite from the Collie facility for exclusive distribution to Asia Pacific customers.
Wogen has committed to sourcing up to 10 000 t/y of flake graphite concentrate feedstock to supply to the Collie facility, to support production increases over time.
The terms of sales between the companies will be agreed on a spot basis.
The heads of terms between the companies is currently non-binding and will eventually be replaced with binding agreements as the Collie facility approaches commercial production.
IG6 MD and CEO Andrew Worland says Wogen has deep experience in the global graphite supply chain with an outstanding reputation and a strong presence across all major markets. "Our Collie operations will directly benefit from Wogen's global sourcing, trading, logistics and marketing capabilities. "This is an important step in our strategy to partner with market leaders, and we look forward to growing our relationship with Wogen as we move into production."
Wogen CEO John Craig comments the company is excited to be working with IG6 in bringing a new supply of high-spec industrial graphite products to the Asia Pacific market, particularly for customers in Japan and South Korea - two of the region's fastest-growing markets for advanced manufacturing materials.
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