[2019-01-15] Syrah Resources extracts 104,000 tonnes of graphite in Mozambique in 2018

Source: Macauhub

Graphite production at the Balama concession in northern Mozambique reached 104,000 tonnes in 2018, with 33,000 tonnes in the fourth quarter alone, Australian company Syrah Resources said on Monday.

The company also reported that the average rate of recovery of graphite in the fourth quarter was 70%, against an average rate of 53% in the previous quarter.

Syrah Resources noted in the statement that further details of the performance in the fourth quarter of 2018 would be announced in the next quarterly activity report, due to be released on 30 January.

In December 2018, the Australian company announced it had signed a binding contract with China’s Qingdao Langruite Graphite to provide 48,000 tonnes of graphite to be extracted at the Balama mine.

Langruite Graphite, based in Shandong, is related to Qingdao Guangxing Electronic Materials, with which Syrah Resources carried out spot deals last year.

Syrah Resources announced in November it had signed a contract for the sale of graphite to Chinese company Qingdao Freyr Graphite Co., Ltd.

Syrah Resources is involved in a graphite extraction project in Balama, Cabo Delgado, northern Mozambique, whose production is mostly exported through the port of Nacala, in the province of Nampula.