Syrah Resources Reports Loss for 2021

Syrah Resources Ltd of Australia has reported a net loss of US$56.9 million on revenue of US$29.0 million for 2021 compared with a net loss of US$60.9 million on revenue of US$10.8 million in 2020.

Following a 12-month suspension of operations, the company restarted natural graphite production at its Balama operation in Mozambique in March, 2021.

Syrah notes that a successful A$250 million (US$187 million) transaction announced in February 2022 fully funds its Vidalia, LA active anode initial expansion to the start of production and enables the company to capitalize on growing demand for battery materials demand, driven by fast growing EV sales.

Volume 36, Issue 06

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