Syrah declares commercial production at Balama

Company News

by Anna Napoli

Syrah Resources (ASX:SYR) has declared commercial production at its Balama graphite mine in Mozambique.

The company's production was in line with guidance, with 33kt  tones of natural graphite produced in Quarter 4 2018 and full year production of 104kt tones.

Syrah achieved natural graphite recovery of 70 per cent in the fourth quarter compared to average recovery of 53 per cent in Quarter 3.

Managing Director and CEO Shaun Verner says the declaration of commercial production represents a major milestone for Syrah, reflecting the significantly improved production consistency and strong recovery improvements.

Shares in Syrah Resources (ASX:SYR) closed 0.06 per cent lower at $1.72.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.