Gold price up over 1%, closing in on new record
Bullion is now 18% higher for the year, boosted by anticipation of Fed loosening as well as significant buying by central banks.
Australia’s Syrah Resources Ltd said on Thursday it will evaluate supplying natural graphite active anode material (AAM), used in lithium-ion batteries, to South Korea’s LG Energy Solution Ltd.
The miner said its unit has been selected for a grant of up to $220 million by the US Department of Energy, which will be used to finance the potential expansion of Syrah’s Vidalia AAM facility in Louisiana.
(By Upasana Singh; Editing by Shounak Dasgupta)
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