Syrah Resources reports $106 million in graphite sales

2023-03-31

Mar. 31, 2023 - Syrah Resources said today that the company had $106 million in sales in 2022.

Syrah operates its Balama operation in Madagascar. It is also advancing an active anode material facility in the United States.

Gross profit for the year was $13 million and net loss after income tax of $27 million for the full year. The company had record annual graphite production of 163kt from Balama.

The company updated its reserve estimate stating that Balma supports a 50+ year mine life based on its current 2 Mtpa process plant capacity with a life of mine average strip ratio (waste/ore) of 0.5 and ~19% TGC ore grade processed to 2047.

Syrah’s says its vision is to be the world’s leading supplier of superior quality graphite and anode material products.