Syrah to resume graphite production in Mozambique
Australia-based Syrah Resources has restarted natural graphite production at its Balama operation in Mozambique, following the restoration of site access in May and the completion of preparatory work including inspection and maintenance.
The company said on Thursday that it would progressively increase plant utilisation and production volumes as part of an operating campaign aimed at restocking finished product inventory. Shipments to ex-China markets were expected to resume in the September quarter.
“There is significant and growing latent demand for Syrah’s natural graphite products, particularly in the ex-China market, due to global supply disruptions, including those from Balama,” the ASX-listed company said in a statement.
Syrah will initially focus on large-volume breakbulk shipments to accelerate customer deliveries and cash inflows. The company said operations at Balama would continue in "campaign mode", depending on market demand.
Further, the company said it continued to engage with the Mozambique government and local stakeholders to resolve resettlement issues and ensure unimpeded access to the mine. A force majeure declaration made earlier this year remains in place, pending the resumption of product shipments and a further review of conditions on the ground.
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