Uranex Signs MOU for Graphite Offtake Agreement with SINOMA

Uranex Ltd. (ASX:UNX), which is focused on the Tanzania-based Nachu graphite project, announced that it has signed a memorandum of understanding (MOU) for an offtake agreement with China National Materials Industry Import and Export Corp. (SINOMA), a subsidiary of a major state-owned enterprise.

As quoted in the press release:

Under the MOU, SINOMA has expressed an interest in purchasing 100,000 tonnes of graphite per annum for a period of 5 years with an option to extend for a further 5 years. The grading of the product is intended to be in the range of 90% to 95%TGC.

Peter Sarantzouklis, chairman of Uranex, commented:

Today’s announcement is significant. The MOU for 100,000 tonnes per annum for up to 10 years with China National Materials Group Corporation (SINOMA) highlights Uranex as a major emerging player in the world’s graphite market. To have SINOMA on board, one of the largest producers of high technology materials in the world with assets of $18 Billion (US) and revenues of $12 Billion (US), clearly demonstrates the significant value in our Nachu Graphite Project. With a significant estimated target resource established, excellent metallurgical results to date, and today’s announcement of an MOU for off-take with a major partner, Nachu continues to confirm that it is a world class project in every sense.

Click here to read the full Uranex Ltd. (ASX:UNX) press release.

Get the Latest Graphite Investing Stock Information

Get the latest information about companies associated with Graphite Investing delivered directly to your inbox.

Graphite Production/Mining
Graphite Prospecting and Exploration
Graphite Resource Definition/Pre Feasibility
Graphite Resource Expansion/Feasibility Study/PEA

By selecting company or companies above, you are giving consent to receive email from those companies. And remember you can unsubscribe at any time.

Graphite Cover small 

Who Might Be Tesla's Graphite Supplier?

  Get the professionals’ forecasts for graphite in this exclusive report:  Graphite Mining in the US: Best Graphite Stocks  

Leave a Reply