ASX/Media Release 24 November 2017
SYRAH ANNOUNCES FIRST PRODUCTIONSyrah Resources Limited (ASX: SYR) ("Syrah" or "Company") is pleased to announce the first production of bagged saleable flake graphite from the Balama Project ("Balama") in Mozambique.
HighlightsProduction of first bagged saleable flake graphite at Balama
Flake graphite grade in excess of 95% fixed carbon
Construction essentially complete
Process plant optimisation underway
Shaun Verner, Managing Director and CEO said, "This is a significant achievement for Syrah, our subsidiary Twigg, and our host communities in Mozambique as the Company moves into operations. The development of Balama has been achieved through an extremely dedicated construction, commissioning and operations team, with great support from the local communities, investors, suppliers, government and other stakeholders. We look forward to reliably and consistently supplying the global graphite market and our planned Battery Anode Material operation with the highest quality natural graphite."
Shaun Verner also added, "Following the intermediate concentrate produced in late October, Syrah has now successfully commissioned the final stages of the flake circuit including polishing, filtration, drying, screening and bagging. Flake graphite produced is within our expected grade range, in excess of 95% fixed carbon. Remaining commissioning activities will focus on the fines circuit and further optimisation works. We expect our first shipment of flake product from Nacala Port in the coming weeks. First cash receipts are expected in early 2018 with production of 160,000 to 180,000 tonnes1 in 2018, following customer qualification processes."
Construction ProgressAll major project construction works are essentially complete, remaining construction activities limited to electrical and instrumentation works, completion of construction punch list items and verification checklists for the fines circuit
Construction of Chipembe Dam pipeline (14 kilometres) and pump station is complete
Attrition cells are on site and civil works completed, with installation to commence after commissioning of the fines circuit
Demobilisation of construction teams is well underway
Refer to ASX announcements titled "Syrah finalises Balama Graphite study and declares maiden ore reserve" released on 29 May 2015, "Syrah increases Balama Reserves and awards Laboratory Contract" released on 15 November 2016. All material assumptions underpinning the production target in these announcements continue to apply and have not materially changed.
ASX/Media Release 24 November 2017
CommissioningCommissioning sequence was prioritised for initial production of coarse flake
Full ore commissioning of the combined crusher, primary mill, scrubber, classification, thickener and tails disposal to the tailings storage facility is complete and optimisation work is underway
Ore commissioning of the flake circuit including flotation, polishing, drying, screening and bagging completed with first production of saleable bagged graphite achieved
Chipembe Dam pipeline is fully commissioned
During the commissioning phase, costs of Balama production offset by any revenue received will be capitalised on the balance sheet until commercial production is declared. Further details will be provided as commissioning draws to completion and production ramps up.
Primary Milling
Flotation
Thickener
Flake Cleaner
ASX/Media Release 24 November 2017
Flake Filter Feed Tank
Flake Filtration
Flake Drying
Flake Bagging
Flake Graphite Produced
Saleable Bagged Product
ASX/Media Release 24 November 2017
For further information contact Investor Relations:
Nova Young |
Contact: +61 422 575 530 |
Email: n.young@syrahresources.com.au |
About Syrah Resources
Syrah Resources Limited (ASX code: SYR) is an Australian-based industrial minerals and technology company. Syrah is currently constructing the Balama Graphite Project (Balama) in Mozambique, with construction substantially complete. Commissioning activities commenced in May 2017 and Syrah produced its first saleable flake graphite product in November 2017. Balama will be the leading global producer of high purity graphite. Balama production is targeted to supply traditional industrial graphite markets and emerging technology markets. Syrah is also developing a downstream Battery Anode Material plant in Louisiana, USA. Syrah has successfully completed extensive product certification test work with several major battery producers for the use of Balama spherical graphite in the anode of lithium ion batteries. For further information, visit www.syrahresources.com.au
Syrah Resources Limited published this content on 24 November 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 23 November 2017 22:26:00 UTC.
Original documenthttp://www.syrahresources.com.au/investors/downloads/522
Public permalinkhttp://www.publicnow.com/view/F9308B542A7F1F8BB4A8E1594A9975FB9EA5F4A7