Syrah Resources ( (AU:SYR) ) has issued an announcement.
Syrah Resources has entered into a significant three-year agreement with Lucid Group to supply natural graphite active anode material from its Vidalia facility in the USA. This deal, starting in 2026, will see Lucid or its battery suppliers purchase approximately 7,000 tonnes of material, with pricing tied to a natural flake graphite index. The agreement solidifies Syrah’s position as a key supplier in the North American market, offering critical mineral security and reducing reliance on Chinese anode products, which is vital for US electric vehicle manufacturers to qualify for tax credits under the Inflation Reduction Act.
More about Syrah Resources
Syrah Resources is an industrial minerals and technology company listed on the Australian Securities Exchange, with its flagship Balama Graphite Operation in Mozambique and a downstream Active Anode Material Facility in the United States. The company aims to be the leading supplier of high-quality graphite and anode material products, focusing on adding value in battery and industrial markets.
YTD Price Performance: 10.71%
Average Trading Volume: 85,850
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: $162.3M
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