Syrah Resources announces Gredmann as its graphite trader in China

Company News

by Jessica Amir

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.
 

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.