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Syrah Resources has signed an agreement to buy an industrial site in Vidalia, Louisiana, in the United States, where it will build a factory for production of battery components, the company said in a statement released on Wednesday.
Under the agreement to buy the 10-hectare plot and an industrial building with an area of 4,645 square metres, Syrah Resources will pay US$1.225 million, with a period of 90 days to complete due diligence.
“In a manner consistent with our activity in Mozambique, Syrah is committed to environmental sustainability and community involvement,” said Shaun Verner, the company’s chief executive, adding that the acquisition of Vidalia’s industrial land will enable the company, “to advance in the business of producing anodes for batteries.”
Syrah Resources is involved in a graphite extraction project in Balama, Cabo Delgado, northern Mozambique, which since the beginning of exploration and processing in November 2017 has produced more than 160,000 tons of graphite, much of which has already been exported through the port of Nacala, in the province of Nampula. (macauhub)