Syrah Resources Plans Balama Graphite Restart Mozambique Loan Talks

Syrah Resources is preparing to resume natural graphite production at its Balama operation in Mozambique by the end of the June 2025 quarter after site access was restored following community protests and disruptions that began in late 2024. Maintenance and inspection teams, along with key contractors, have returned to the site and found no significant damage to critical infrastructure, with minor maintenance planned before restarting each plant section. The company has approximately 400,000 tonnes of run-of-mine ore stockpiled, supporting at least three months of processing without immediate mining activities. Syrah is actively engaging with the Mozambican government and local authorities to ensure operational stability and free movement to and from the site, while also managing ongoing discussions with U.S. government agencies to resolve defaults on crucial loans triggered by the production halt. There is strong latent demand for Syrah's natural graphite products due to supply disruptions in the ex-China market, and the company plans to prioritize break-bulk shipments to expedite deliveries and cash flow. Syrah continues to operate under a force majeure declaration pending production and shipment resumption and aims to maximize efficiency through campaign-mode operations.