Syrah Resources rumoured to be in $2bn takeover talks with Glencore

By Laura Syrett
Published: Thursday, 10 July 2014

The ASX-listed graphite junior owns what is believed to be the world’s largest graphite-vanadium deposit in Mozambique. A takeover by Glencore could fast-track the Balama project to development, which would significantly increase the flow of vanadium and graphite to the global market.

Swiss commodities trading giant Glencore is rumoured to have made an informal offer for ASX-listed graphite junior Syrah Resources for Australian dollar (A) $2bn ($1.89bn*), according to Australian media reports.

Melbourne-based Syrah is currently developing the Balama graphite-vanadium project in Mozambique, which has a resource of 1.1bn tonnes graphite...

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