Kibaran Signs Offtake LOI with ThyssenKrupp Subsidiary

Kibaran Resources Ltd. (ASX:KNL) announced that it has executed a letter of intent (LOI) with ThyssenKrupp AG (ETR:TKA) subsidiary ThyssenKrupp Metallurgical Products GmbH.

Under the agreement the parties will put together an “exclusive, long-term commercial agreement for the sale of Kibaran’s natural flake graphite products.”

Further highlights include:

• Development of an exclusive long-term commercial agreement between the parties for the sale of an initial and minimum 20,000 tpa of natural flake graphite products in Russia, Korea and the EU 27 (excluding Germany, but including Turkey);
• The term of the planned agreement is for 10 years
• ThyssenKrupp Metallurgical Products will endeavour to assist Kibaran to obtain debt or equity funding for development of the graphite projects.

Click here to read the full Kibaran Resources Ltd. (ASX:KNL) press release.