2021 Annual Report

Strong health and safety record with Total Recordable Injury Frequency Rate ("TRIFR") of 0.5 for Balama as at end of 2021 and focus on high internal standards of COVID-19 protocols and compliance with government directives.

Progression of strategy to become the preeminent vertically integrated supplier of natural graphite Active Anode Material (“AAM”) to ex-Asia markets, with: 

• Production at Balama restarted and increased subject to natural graphite market conditions and container shipping availability
• On-specification natural graphite AAM produced from Syrah’s fully integrated AAM facility in Vidalia, Louisiana, USA
• Executed offtake agreement with major electronic vehicles maker
• Final investment decision taken for the Vidalia Initial Expansion after year end

Major new logistics option developed to commence breakbulk shipments through Pemba port to help manage inventory positions and enable higher Balama production and sales.

Balance sheet continued to strengthen with issue of A$28 million convertible note tranche, and a A$250 million equity raising after year end.

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