This was followed by the successful coating of Balama’s spherical graphite by Chinese graphite producer Morgan AM&T Hairong in January 2015. In November 2014, Syrah’s spherical graphite plant successfully produced battery-grade uncoated spherical graphite. About 1 kg of coated spherical graphite is required to produce 1 kWh of energy from a lithium-ion battery. It is then coated with another layer of carbon using proprietary technology to produce coated spherical graphite. The natural graphite is milled to produce spherules before being chemically purified to over 99.95% carbon to produce uncoated spherical graphite. Therefore, to enhance production yields, Syrah intends to use refined natural graphite as feedstock for the production of spherical graphite. The company has noted that coated spherical graphite is a high-value, processed graphite product used to manufacture anodes for lithium-ion batteries. Syrah is ideally positioned to be a consistent, high-quality and long-term major producer to satisfy the expected significant global demand for spherical graphite,” Kumova concludes.ĪSX-listed Syrah Resources’ belief that downstream processing of graphite concentrate will accrue additional value for shareholders has led to the formation of the Spherical Graphite Project. “The Marubeni agreement has validated our strategy and steadfast belief that the lithium-ion battery market will be the major source of growth for the graphite sector in the upcoming years. He adds that Syrah has significantly progressed product qualification with potential customers in the aforementioned regions. opportunities remain available in the Chinese, North American and European markets,” says Kumova. “Given that this volume is only for the Japanese and Korean markets, further . . . Mano says, while the initial yearly volumes of 50 000 t are satisfactory at this time, Marubeni expects the Japanese and Korean markets to expand significantly in the near term and Syrah may become the major supplier as the market grows. “Extensive testwork has been performed on numerous samples provided by Syrah and the results have shown that Balama’s spherical graphite is superior to current material supplied from China, exceeding customers’ expectations.” Marubeni’s inorganic mineral resources GM, Ryoichi Mano, comments that the conglomerate has worked closely with Syrah to conduct premarketing activities in Japan and Korea for the past 18 months. Syrah has also completed an internal economic assessment on a proposed spherical graphite facility in the US. Product prices will be negotiated on a quarterly basis between the parties, with reference to the market prices prevailing in the territories. The company’s obligation to buy graphite starts after Syrah issues a notice stating that it has reached adequate commercial production rates, provided that such notice is given before December 31, 2019. Marubeni will buy 50 000 t/y and will market the graphite to its customers, which consist of the largest battery and anode producers in Japan and Korea.
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