Kitco News - Graphite-focused Syrah Resources announced today an equity raise of A$98 million (US$65 million).
Funds will be used to preserve Balama operating mode optionality, fund Vidalia operating costs and reserve accounts under its loan with the US Department of Energy, support Vidalia’s ramp-up and progress in product qualification, and advance the active anode material facility development in the U.S.
In Mozambique Syrah operates the Balma Mine, which has 350 KTPA capacity. Syrah is also advancing a downstream active anode material facility in the United States.