The graphite producer also said it was targeting readiness for a final investment decision on the expansion of the vertically integrated Vidalia facility's production capacity.
Agreement will provide Graphex with a diverse supply of raw materials in line with its plans to bring domestic processing facilities online to supply automakers and battery gigafactories.
International trade and a thriving mining and resources sector were crucial for the recovery of Western Australia’s economy following the covid-19 pandemic.
According to the Energy Transitions Commission, it will require production of up to 6.5 billion tonnes of materials cumulatively between 2022 and 2050.