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Exploration|Mining|PROJECT|Resources|Operations
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exploration|mining|project|resources|operations

Syrah receives $6.5m from DFC to ramp up Balama after suspension

Balama processing plant

Balama processing plant

19th August 2025

By: Marleny Arnoldi

Senior Deputy Editor Online

     

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ASX-listed Syrah Resources and its subsidiary Twigg Exploration and Mining has received a $6.5-million disbursement from its loan with the US International Development Finance Corporation (DFC).

The company is using the proceeds for working and sustaining capital for its Balama graphite project, in Mozambique, as the mine’s operations were suspended for ten months.

Pending a restructure of this loan, Syrah plans to withdraw another $4.5-million from its DFC loan facility in October.

A further $75-million of cash is available from the DFC, subject to new conditions, however, there is no certainty that further disbursements of the DFC loan will be completed.

Syrah declared a force majeure at the mine in December last year owing to widespread civil unrest stemming from disputed general elections in Mozambique.

The unrest disrupted multiple mine sites in the country.

Syrah resumed large-scale shipments from the Balama mine and lifted the force majeure at the end of July.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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