Valence Industries Graphite Sales Commence
Adelaide, April 29, 2014 AEST (ABN Newswire) - Consistent with its development pathway, Valence Industries (
ASX:VXL) is pleased to announce that it has signed the first agreement for the sale of graphite from its Uley Graphite facilities in regional South Australia. This is the first sale of graphite by an Australian manufacturer for over 20 years and marks a significant milestone for the Company.
VALENCE INDUSTRIES GRAPHITE SALES COMMENCE
- Valence Industries has sold its first graphite, the first in Australia for over 20 years.
- Shipments to Japan to commence in coming weeks.
- Uley Graphite, from reprocessed material, will be used for applications ranging from industrial lubricants and refractories to battery applications.
- Valence Industries' Phase I Re-commissioning Program continues.
Active marketing to graphite customers has intensified over the last several months in Australia, Europe, North America and Asia, with the Company encouraged by the very positive response to the availability and quality of the Company's Uley Graphite. Valence Industries has now signed its initial sales agreement with a customer in Japan for uses ranging from industrial lubricants and refractories through to battery grade applications.
The sales have been made in a range of volumes and for a range of prices that reflect immediate commercial applications and will be fulfilled via progressive customer shipments, expected to commence in coming weeks. The initial sales are for a range of large flake graphite products with purity levels above 95%. The initial graphite shipments will also be used in programs for advanced testing and qualification for long term sales agreements.
The Company will release its Quarterly Report on Wednesday 30 April 2014 detailing the progress made in the Phase 1 recommissioning program.
About Valence Industries Ltd
Valence Industries Limited (ASX:VXL) is an industrial manufacturing company producing high grade flake graphite products for distribution and sale to global markets. Valence Industries owns established processing facilities and infrastructure to manufacture a wide range of graphite product lines for multiple applications and multiple industries. Valence Industries produces and sells its graphite products from its Uley Graphite facilities in regional South Australia for delivery to diversified markets for graphite in the Asia Pacific, Europe and North America. Visit Valence Industries
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