.SyrahResources has secured more funding in the US for its Vidalia expansion project, signed an offtake MoU, and flagged continued illegal industrial action graphite BatteryMetals CriticalMinerals
PERTH – ASX-listed graphite miner Syrah Resources has been tapped for a grant of up to $220-million from the US Department of Energy to support the potential expansion of its Vidalia active anode material facility, in Louisiana.
Syrah told shareholders that it did not expect its binding ATVM loan to be affected by a binding funding agreement for the DoE grant. Syrah and LG Energy Solutions will also continue to cooperate to expand Vidalia AAM volumes and support the growing electric vehicle market. Construction activities in the December 2022 quarter will focus on completion of concrete foundations, mechanical and structural steel delivery, steel erection for permanent buildings, piping manufacturing, and delivery and installation of major equipment. Start of production of the 11 250 t/y AAM Vidalia facility is targeted in the September 2023 quarter with an 18-month ramp-up period to the full production rate.
With work stoppage, disrupted access to site and out of caution for the safety of Syrah’s employees and contractors, Balama operations were halted in September and the company’s workforce temporarily moved from site. After quarter end, Balama prepared operations for restart, with employees and contractors returning to site and camp, and production and logistics movements recommencing.
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