Syrah Resources Navigates Market Challenges

Syrah Resources Limited (AU:SYR) has released an update.

Syrah Resources Limited reported a stable safety performance and a production of 11kt of natural graphite at Balama during a quarter marked by low demand and campaign operations. The company signed a six-year offtake agreement and completed a A$98 million funding round, aiming to ramp up anode material production in the USA and target a US$150 million loan disbursement for Balama. Despite a 24% increase in sales price, the company faced challenges from volatile Chinese anode production and export licensing controls.

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