Syrah Resources ‍signs mining agreement with government of Mozambique

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Syrah Resources ‍signs mining agreement with government of Mozambique

12:02 CAT | 06 Mar 2018

Balama plant. Photo: Syrah Resources

Syrah Resources Limited (ASX: SYR) (Syrah or the Company) is pleased to announce that the Mining Agreement has been signed by His Excellency Ernesto Max Elias Tonela, the Minister of Mineral Resources and Energy, on behalf of Government of the Republic of Mozambique, and Syrah’s wholly owned subsidiary, Twigg Exploration and Mining, Limitada.

The final step in the process is for the Mining Agreement to be presented to the Administrative Court in Mozambique for sanctioning after which it will be binding and enforceable. The Company will provide further updates when available.

The Mining Agreement consolidates all prior project documents and approvals. It also provides the Company with clarity around the governing laws and contractualises the mining rights and other obligations for the Balama Project in Mozambique.

<blockquote class=”twitter-tweet” data-lang=”en”><p lang=”en” dir=”ltr”>Syrah Resources <a href=”https://twitter.com/search?q=%24SYR&src=ctag&ref_src=twsrc%5Etfw”>$SYR</a> announces mining agreement signed by Government of Mozambique re Balama Graphite Project</p>— amscotStockbroking (@amscotOnline) <a href=”https://twitter.com/amscotOnline/status/970799632581148672?ref_src=twsrc%5Etfw”>March 5, 2018</a></blockquote>
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<blockquote class=”twitter-tweet” data-lang=”en”><p lang=”en” dir=”ltr”>Mozambique Mining: Syrah Resources Balama graphite output keeps growing <a href=”https://t.co/rD8TioVAPB”>https://t.co/rD8TioVAPB</a> <a href=”https://t.co/pGOMfUv2Fb”>pic.twitter.com/pGOMfUv2Fb</a></p>— Moz Resources Post (@mozminingpost) <a href=”https://twitter.com/mozminingpost/status/969863343354859520?ref_src=twsrc%5Etfw”>March 3, 2018</a></blockquote>
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About Syrah Resources

Syrah Resources Limited (ASX code: SYR) is an Australian-based industrial minerals and technology company. Constructing and commissioning activities of the Balama Graphite Project (Balama) in Mozambique are essentially complete. Syrah produced its first saleable flake graphite product in November 2017 and transitioned into operations on 1 January 2018. 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.

Source: ASX/Media Release