Syrah switches on Balama graphite restart

SYRAH Resources has begun the process to bring its Balama graphite operation in Mozambique back into production.
 Syrah switches on Balama graphite restart  Syrah switches on Balama graphite restart  Syrah switches on Balama graphite restart  Syrah switches on Balama graphite restart  Syrah switches on Balama graphite restart

Balama, Mozambique

Staff Reporter

Details such as costs were scant aside from a timeline of 2-3 months. 

The operation was closed last March for COVID-19 and weak product demand reasons. 

At full speed, Balama is a 2 million tonne per annum operation producing about 350,000tpa of graphite concentrate.  

Syrah wants to become a vertically integrated company with an anode production plant at Vidalia in Louisiana in the frame. 

Syrah had US$80-90 million cash last month, with an equity raising last month pricing new shares at A90c each.  

Shares in Syrah were up 6% to $1.22, capitalising the company at $506 million. 

The stock fell to less than 20c last March.