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Magnis to supply flake graphite to World Group

Magnis Resources Ltd. on Dec. 1 said it agreed to supply flake graphite to World Group division World Plastik ve Petrokimya Sanayi ve Ticaret AS.

Under the agreement, the company will supply 25,000 tonnes per annum of flake graphite, consisting of 15,000 tonnes per annum of the Super Jumbo product and 10,000 tonnes per annum of the Jumbo product.

Magnis can source the graphite from its Nachu project in Tanzania, as well as from other mines that produce graphite based on the above specifications.

Pricing is fixed over the initial three-year term and exceeds the forecasts, with first delivery expected in 2019.