Syrah Resources has delivered first production of purified spherical graphite from its battery anode material (BAM) plant in Louisiana in the United States.
Syrah Resources plans to take “immediate action” in response to the sudden decrease in graphite prices, which may plummet further later this year.
Syrah Resources has entered into a convertible note deed and an underwritten entitlement offer to raise approximately $111.6 million for its Balama graphite project.
Syrah Resources has cemented its comeback from production issues last year by posting a production record in March at as the Balama graphite project.
Syrah Resources is on track to meet the lower end of its production guidance at the Balama graphite operation in Mozambique.
High graphite prices are encouraging development of new projects outside of China, according to market consultant Roskill.
Syrah Resources has started commercial production at the Balama operation in Mozambique, southeast Africa, following a review of its monthly metrics.
Battery Minerals’ second major graphite operation Balama Central in Mozambique boasts a mine life of 27 years and will cost just $US69.4 million to develop, its feasibility study has shown.
A fire has occurred at Syrah Resources’ Balama graphite operation, less than a week since the project received approvals from the Mozambique Government.
Syrah Resources’ mining agreement for the Balama graphite operation in Mozambique, Africa has been sanctioned.
Syrah Resources has signed a purchase agreement for an industrial site for its planned battery anode material (BAM) development in Louisiana, United States.
Following on from $20 million of capital raising earlier this month, extensive recruitment is now underway at Battery Minerals’ Montepuez graphite project.