Mining & Energy
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Picture: Syrah Resources
Minor equipment issues at the Balama graphite operation, in Mozambique, has seen ASX-listed Syrah Resources’ production fall by 8% in the second quarter ended June.
The company on Wednesday said that 44 000 t of natural flake graphite was produced at Balama during the three months to June, down from the 48 000 t in the previous quarter.
Despite the lower production in the second quarter, Syrah told shareholders that substantial progress had been made at Balama, including the strengthening of the equipment management and preventative maintenance programme, and increased frequency of recovery 80%.
Some 53 000 t of graphite was shipped during the quarter under review, generating sales revenues of $24.2-million for Syrah.
For the full year, Syrah is targeting a production of between 205 000 t and 245 000 t, dependent on an ongoing assessment of sales volumes against price, production performance and quality performance.
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