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Syrah Resources (ASX:SYR) - CEO & Managing Director, Shaun Verner - The Market Herald
CEO & Managing Director, Shaun Verner
Source: Club of Mozambique
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  • Syrah Resources (SYR) has achieved its first fully-integrated production of natural graphite active anode material (AAM) at its Vidalia operation in the U.S.
  • It follows the installation and commissioning of a commercial scale furnace, which uses natural graphite from the Balama Graphite Operation
  • Thermal treatment of coated anode precursor in a furnace is the final stage of processing graphite to develop an anode material for use in lithium-ion batteries
  • The company is now working on the detailed design of the proposed expansion of production capacity at Vidalia
  • Syrah Resources opened Monday trading at 97.5 cents per share

Syrah Resources (SYR) has achieved its first fully-integrated production of natural graphite active anode material (AAM) at its Vidalia operation in the U.S.

It follows the installation and commissioning of a commercial scale furnace at Vidalia, which uses natural graphite from the Balama Graphite Operation in Cabo Delgado, Mozambique.

Syrah said the achievement is a major milestone in its strategy to become a large scale producer of natural graphite AAM, and noted that the thermal treatment of coated anode precursor in a furnace is the final stage of processing graphite to develop an anode material for use in lithium-ion batteries.

"The fully integrated production of on-specification AAM at Vidalia confirms our position as the most progressed vertically integrated natural graphite AAM supply option outside of China for U.S.A. and European battery makers and OEMs," Managing Director and CEO Shaun Verner said.

The company is now working on the detailed design of the proposed expansion of production capacity at Vidalia, as well as its evaluation of potential strategic and financial partnerships.

A final investment decision for the construction of a 10,000-tonnes-per-year facility at Vidalia is expected in the second half of this year, subject to end customer commitments and other partnerships.

Syrah Resources have opened Monday trading at 97.5 cents per share.

SYR by the numbers
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