Syrah Resources (ASX:SYR) executed a multi-year binding supply agreement with Lucid Group for the supply of natural graphite active anode material from its US production facility, according to a Monday Australian bourse filing.
Lucid's offtake obligation is conditional on an agreement on the final specifications of the graphite active anode material from the facility. The agreement can be terminated by either Syrah or Lucid if Lucid's battery suppliers have not completed qualification and/or committed to purchase the material by Jan. 1, 2027.
Deliveries under the agreement are expected to begin in January 2026, subject to the completion of the qualification of Syrah's facility by Lucid's battery suppliers.
Lucid and/or its battery suppliers will buy around 7,000 tonnes over a three-year term.
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