Graphite company Syrah Resources (ASX:SYR) has inked a binding agreement with Gredmann to sell its graphite in China.
The deal will see Gredmann will become Syrah’s preferred trader of standard fines products in China from June 2019 to December 2021, with direct sales continuing to key customers.
Syrah’s Balama Graphite project will supply 9,000 tonnes per month across a range of fixed carbon grades, totally 279,000 tonnes (108,000 tonnes per annum).
Gredmann has a well-established Chinese sales network with over 200 products, with its sales and logistics in China being carried out across its six offices and 500 employees.
Syrah says Gredmann’s 40-year experience and strong presence in China will be a platform to increase its sales volumes in a high growth market.
Shares in Syrah Resources (ASX:SYR) last traded at $0.98.