Australia-headquartered graphite miner Syrah Resources (OTC: SYAAF) has bagged $107 million in loans from the U.S. Department of Energy to expand its electric vehicle battery parts plant in Louisiana.
Shares of the company, which is a supplier to Tesla Inc (NASDAQ: TSLA), spiked more than 15% on the Australian Stock Exchange on Tuesday following the news.
Syrah Managing Director and CEO Shaun Verner said, “The loan will allow Syrah to accelerate its growth strategy in its downstream business and support the rapidly growing EV and battery supply chain in the …
