Syrah Resources Limited (ASX code: SYR) is an Australian-based industrial minerals and technology company. Syrah owns and constructed the Balama Graphite Project (Balama) in Mozambique. Balama is high grade, long life asset and is the largest natural graphite mine globally. Operations at Balama commenced at the start of 2018 with Syrah ramping up production to nameplate capacity of 350ktpa over time based on market demand. Balama also contains a significant Vanadium Resource which is a by-product currently reporting to tailings at Balama.
Syrah is currently developing its downstream Battery Anode Material (BAM) project in Louisiana, USA. The Company’s strategy is to rapidly produce and commence qualification of its BAM products to establish a core ex-Asia battery supply chain position. Initial production of spherical graphite BAM product is targeted by the end of 2018.
Syrah’s natural graphite and BAM project is exposed to the high growth lithium-ion battery markets with graphite being a key material for battery anodes.
Strategy
Strategic Priorities
Investment Highlights
Exposure to high growth lithium-ion battery markets
Competitive advantage in the Battery Anode Material (BAM) value chain
Vanadium optionality at Balama
Syrah History | |
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Nov 2018 | Syrah successfully produced 98% fixed carbon grade graphite using standard flotation processes |
Sep 2018 | Binding Mining Agreement received from Government of Mozambique |
Aug 2018 | Purchase of Battery Anode Material (BAM) site in Louisiana USA, finalised |
Apr 2018 | Balama inauguration with official opening by President Filipe Nyusi |
Jan 2018 | Balama transitioned to operations, sales commenced |
Nov 2017 | First natural flake graphite production achieved |
Sep 2017 | Sales agreement signed with world’s largest battery anode manufacturer and represents first significant import of natural graphite into China |
Nov 2016 | Balama Ore Reserve upgrade to 114.5Mt at 16.6% Total Graphitic Carbon (TGC) for 18.6Mt of contained graphite (ASX Announcement) |
Jul 2016 | Construction of Balama process plant commenced |
Jun 2015 | All key regulatory approvals for Balama Project received |
May 2015 | Balama Graphite Feasibility Study completed |
May 2015 | Balama maiden JORC compliant Ore Reserve declared |
Mar 2015 | SYR added to S&P/ASX 200 Index |
Jan 2015 | Anode producer successfully coated Balama spherical graphite |
Nov 2014 | Battery grade uncoated spherical graphite produced from Syrah’s pilot plant |
Oct 2014 | Jacana Minerals (Tanzanian exploration projects) demerger |
Jul 2014 | Vanadium scoping study finalised |
Dec 2013 | Government of Mozambique grants 25 year Mining Licence with further 25 year extension available for the Balama Project for graphite and vanadium |
May 2013 | Maiden Balama East Inferred Resource announced |
Jan 2013 | Maiden Balama West Inferred Resource announced and is the largest known graphite deposit in the world |
Jun 2012 | Early stage trenching program indicates vanadium grades |
May 2012 | Diamond drilling commenced at Balama Project |
Dec 2011 | Acquisition of Jacana Resources, an unlisted African explorer which included the Balama Graphite Project in Mozambique, the most advanced project showing extensive high quality graphite over 4km strike distance |
10 Sep 2007 | Commencement of Official quotation on the ASX under code SYR |
23 Jul 2007 | Syrah Resources formed to acquire a portfolio of potential tenements from Copper Strike Limited (Copper Strike) |