Production at the Balama graphite project in Mozambique has been paused as demand from China slows, said SyrahResources criticalminerals mining resources
PERTH – ASX-listed Syrah Resources on Tuesday said that production from the Balama graphite project, in Mozambique, had been constrained by maximum finished product inventory as Chinese demand declined.
Meanwhile, the company has also completed a review of more dynamic operating scenarios at lower production volumes to better position the company to match periods of volatile customer demand, with more sustainable operating costs and cash flow outcomes. Other initiatives include renegotiating key operating contracts, freezing hiring, optimising workforce rostering for campaign operations, and maximising the use of solar energy to reduce diesel consumption and costs.
Syrah has also reviewed an operating mode where sales and inventory constraints on production extend beyond the end of 2023 to further conserve cash if required.
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