Syrah signs China sales deal

Company News


Syrah Resources Limited (ASX:SYR) has signed a sales and marketing agreement with a spherical graphite producer in China. 
 
The supply deal with Morgan Hairong is for three years with prices to be negotiated quarterly. 
 
There is significant growth expected in the spherical graphite market with the product widely used in lithium ion batteries. 
 
Syrah are hoping to tap in to the increasing demand for battery-powered electric cars over the next five years as the Chinese government tackles the huge pollution problem in the country. 
 
Syrah Resources made a net loss of $11.63 million for the 2015 financial year. 

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