Syrah Resources Signs Offtake Deal With TSX-Listed Battery Materials Firm; Shares Down 4%

MT Newswires Live

Mar 02

Syrah Resources (ASX:SYR) signed an offtake agreement with Toronto Stock Exchange-listed battery materials firm NextSource Materials for the supply of natural graphite fines from the company's Balama graphite operations in Mozambique, according to a Monday filing with the Australian bourse.

The offtake deal involves the supply of at least 34,000 tonnes and up to 68,000 tonnes in aggregate over seven years from June 2026, dependent on several conditions being satisfied or waived, the filing said.

The agreement is subject to the start of commercial production of NextSource's anode facility in Abu Dhabi, UAE, and approval from NextSource and its downstream customers to use Balama natural graphite, per the filing.

Syrah Resources shares fell 4% in afternoon trade on Monday.

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