Graphex Technologies Announces New Offtake Agreement With Syrah Resources for High Quality Natural Flake Graphite From Their Balama Graphite Operation
Graphex Technologies, LLC, a wholly-owned subsidiary of Graphex Group Limited (collectively “Graphex”) (NYSE American: GRFX | HKSE: 6128), a global leader in mid-stream processing of natural graphite anode material for use in Lithium-ion (Li-ion) batteries, today announced that it has entered into an offtake agreement with a wholly-owned subsidiary of Syrah Resources Limited (Syrah) for natural flake graphite from Syrah’s Balama graphite operation in Mozambique.
- Graphex Technologies, LLC, a wholly-owned subsidiary of Graphex Group Limited (collectively “Graphex”) (NYSE American: GRFX | HKSE: 6128), a global leader in mid-stream processing of natural graphite anode material for use in Lithium-ion (Li-ion) batteries, today announced that it has entered into an offtake agreement with a wholly-owned subsidiary of Syrah Resources Limited (Syrah) for natural flake graphite from Syrah’s Balama graphite operation in Mozambique.
- Syrah’s Balama graphite operation is the largest natural graphite operation outside of China, with a production capacity of 350,000 metric tons per year and a multi-generational 50+ year life underpinned by a globally significant high grade natural graphite reserve and resource.
- “This agreement with Syrah could change the graphite game in North America,” said John DeMaio, Chief Executive Officer of Graphex Technologies.
- Securing significant sources of quality raw materials from well-established companies and mine assets such as Syrah and its Balama graphite operation, ensures that Graphex can meet the growing needs of OEMs now and into the future.