Syrah Resources Clarifies Tesla Offtake Agreement Conditions

Syrah Resources ( (AU:SYR) ) has issued an announcement.

Syrah Resources has clarified its previous disclosure regarding the offtake agreement with Tesla for supplying natural graphite active anode material from its Vidalia, Louisiana facility. The agreement’s offtake obligation is contingent on the final qualification of the material to Tesla’s satisfaction by February 2026, with potential termination options for both parties if qualifications are not met by specified dates. The ongoing qualification processes are crucial for commencing commercial sales, impacting Syrah’s operations and its positioning within the battery materials supply chain.

The most recent analyst rating on (AU:SYR) stock is a Hold with a A$0.40 price target. To see the full list of analyst forecasts on Syrah Resources stock, see the AU:SYR Stock Forecast page.

More about Syrah Resources

Syrah Resources (ASX: SYR) is an industrial minerals and technology company listed on the Australian Securities Exchange. It operates the Balama Graphite Operation in Mozambique and a downstream Active Anode Material Facility in the United States. The company aims to be a leading supplier of high-quality graphite and anode material products, focusing on adding value in battery and industrial markets.

YTD Price Performance: 53.66%

Average Trading Volume: 4,503,187

Technical Sentiment Signal: Sell

Current Market Cap: A$328.3M

For a thorough assessment of SYR stock, go to TipRanks’ Stock Analysis page.