Highlights
Australian miner Syrah Resources Limited (ASX: SYR) has successfully produced the first bagged saleable flake graphite from its Balama Project in Mozambique.
Shaun Verner, Managing Director and CEO said this major milestone is the company continues to ramp up the project.
“Following the intermediate concentrate produced in late October, Syrah has now successfully commissioned the final stages of the flake circuit including polishing, filtration, drying, screening and bagging,” Mr Verner said.
“Flake graphite produced is within our expected grade range, in excess of 95% fixed carbon.
“Remaining commissioning activities will focus on the fines circuit and further optimisation works. We expect our first shipment of flake product from Nacala Port in the coming weeks.
First cash receipts are expected in early 2018 with production of 160,000 to 180,000 tonnes1 in 2018, following customer qualification processes.
“The development of Balama has been achieved through an extremely dedicated construction, commissioning and operations team, with great support from the local communities, investors, suppliers, government and other stakeholders. We look forward to reliably and consistently supplying the global graphite market and our planned Battery Anode Material operation with the highest quality natural graphite.”
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Syrah also reported that all major project construction works are essentially complete, remaining construction activities limited to electrical and instrumentation works, completion of construction punch list items and verification checklists for the fines circuit.
During the commissioning phase, costs of Balama production offset by any revenue received will be capitalised on the balance sheet until commercial production is declared.