Syrah Resources (ASX:SYR) has struck an agreement with major Japanese integrated trading and investment conglomerate, Marubeni Corporation to market graphite samples from the Balama Graphite and Vanadium Project for industrial and battery applications in Japan and Korea.
The deal should see Syrah shares strongly bid on the ASX.
The non binding agreement would see Marubeni pre-market graphite samples from Balama to major battery producers in Japan and Korea.
These companies are currently the world’s largest producers of lithium ion (Li-ion) batteries. The electric vehicle market
has perhaps the largest potential for significant growth for suppliers of spherical graphite for Li-ion batteries.
Given sufficient demand from potential customers, both parties will then negotiate a Definitive Marketing Agreement and potential offtake financing.