PERTH (miningweekly.com) – Graphite miner Syrah Resources on Monday refuted claims that the company was mining and stockpiling ore at its Balama operation, in Mozambique, rather than selling the output.
The miner said in a statement that a production campaign at Balama had been undertaken during the September quarter, and that graphite sales and shipments had been completed in the same period.
“Ongoing strength in global electric vehicle sales has seen increased anode production in China and improved natural graphite demand recently,” the company said.
The company paused production from Balama in both May and June, given the continuing volatile Chinese anode market conditions and excess availability of finished product inventory, which led to lower demand for natural graphite from Balama.
Syrah on Monday said that the company would update the market on its natural graphite sales and shipments for the September quarter later this month.