ENERGY MINERALS

Syrah switches on Balama graphite restart

First production in two-to-three months

Staff Reporter

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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.  

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