Syrah Resources Announces First Production

Syrah Resources Limited (ASX: SYR) has announced the first production of bagged saleable flake graphite from the Balama Project in Mozambique.

Shaun Verner, Managing Director and CEO said, “This is a significant achievement for Syrah, our subsidiary Twigg, and our host communities in Mozambique as the Company moves into operations. The development of Balama has been achieved through an extremely dedicated construction, commissioning and operations team, with great support from the local communities, investors, suppliers, government and other stakeholders. We look forward to reliably and consistently supplying the global graphite market and our planned Battery Anode Material operation with the highest quality natural graphite.”

Shaun Verner also added, “Following the intermediate concentrate produced in late October, Syrah has now successfully commissioned the final stages of the flake circuit including polishing, filtration, drying, screening and bagging. Flake graphite produced is within our expected grade range, in excess of 95% fixed carbon. Remaining commissioning activities will focus on the fines circuit and further optimisation works. We expect our first shipment of flake product from Nacala Port in the coming weeks. First cash receipts are expected in early 2018 with production of 160,000 to 180,000 tonnes1 in 2018, following customer qualification processes.”


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