Syrah targets 2017 start for Balama
PERTH (miningweekly.com) – The Balama graphite project, in Mozambique, remains on track to produce its first product in the first quarter of 2017.
ASX-listed Syrah Resources on Monday reported that detailed engineering design work was progressing as planned and that long-lead capital equipment items had been identified and would be ordered in the coming months.
A construction licence had been approved and bulk earthworks at the processing plant and access road were under way, while design for the civil works was well advanced.
A recent feasibility study estimated that the Balama project would require a capital investment of some $138-million to deliver a 380 000 t/y operation. During the first ten years of operation, during which time the mine was expected to produce at an average rate of 365 000 t/y graphite concentrate, the Balama project would deliver a free cash flow of $160-million a year.
Earlier this month, Syrah successfully completed a A$211-million capital raise to advance the development of the project.
“The completion of a fully underwritten capital raising during volatile financial markets and a general commodities downturn reaffirms the confidence of global investors in the strength of the Balama project and the fundamentals of the graphite market,” said Syrah MD Tolga Kumova.
“The project development, operational and marketing teams are now working closely together to ensure the successful construction and ramp-up of the Balama project by the first quarter of 2017 and to establish Syrah as the leading and largest producer of high-quality graphite products in the world.”
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...
VISIT SHOWROOM
Your global lifecycle technology & service partner for materials & minerals processing equipment for coal, iron ore, copper, manganese & other...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
