Syrah to raise $110m for Balama

The Australian Mining Review - - NEWS: INTERNATIONAL -

MEL­BOURNE-based Syrah Re­sources has plans to raise about $110 mil­lion to go to­wards ramp up at its Balama graphite project in Mozam­bique.

Soon to en­ter pro­duc­tion, the Balama project will be the lead­ing global pro­ducer of high pu­rity graphite.

Syrah also in­tends to use the funds to cover costs as­so­ci­ated with the com­mer­cial ac­cel­er­a­tion of its bat­tery an­ode ma­te­rial (BAM) strat­egy, fo­cused on de­vel­op­ing growth op­por­tu­ni­ties in the emerg­ing global bat­tery in­dus­try.

“This will give Syrah the best op­por­tu­nity to cap­i­talise on op­por­tu­ni­ties as soon as pos­si­ble,” the com­pany stated.

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