ENERGY MINERALS

Syrah workers back in action at Balama

Industrial dispute resolved

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No details on what had resolved the industrial issue were disclosed.

"Syrah fully supports the rights of employees and contractors to collectively organise under Mozambican labour law," the company said in a statement to the ASX.

"Mozambique government authorities have committed to ensuring that illegal industrial action is not permitted to interrupt Balama operations."

Operations were halted on September 20.

At that time 38,000t of natural graphite had been produced in that quarter.

In the June quarter Balama produced 44,000t.

Syrah pointed out Balama has operated on a "campaign basis" throughout 2022.

Syrah is aiming to be a vertically integrated producer of battery anode material via mining at Balama and a budding downstream processing development in Louisiana, US.

In doing so it will become the only current producer outside of China.

Initial anode material production is put at 11,250t in 2023, potentially rising to 45,000tpa from 2025-2026 - with a feasibility study underway - and ultimately, more than 100,000tpa from a third possible development in Europe.

So far as Balama is concerned, the mine is seen as having capacity to produce 350,000tpa of natural graphite for more than 50 years.

Shares in Syrah were trading this week at $1.75, capitalising it at $1.17 billion.

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