Shaun Verner of Syrah Resources: Graphite Production at Balama to Be Demand Driven

At this year’s Benchmark Minerals Week’s Graphite+Anodes conference in Newport Beach, the Investing News Network caught up with Shaun Verner, managing director and CEO of Syrah Resources (ASX:SYR), to talk about the state of the graphite market, future supply and more.

Speaking about how the graphite market has performed this year, Verner said there’s been a lot of interest for Syrah Resources’ product. The company started production in November last year.

“We are getting a feel about the overall graphite market, but it is early days, [what we see] right now is a very strong interest in our product worldwide,” he said.

Verner also talked about the differentiation seen in the last couple of years between those who have the historical views from the industrial components of the market, which are primarily steel driven, and those who are very positive about demand from the battery sector.

“This year is the first year where we have seen those views integrate, and the market getting its head around what batteries could mean for supply and demand in the future,” he added, saying that Syrah Resources’ Balama production was also another major factor impacting the market in 2018.

Speaking about next-generation technology, Verner said he expects graphite to continue to be the baseload of anode technology.

“Battery anode is currently primarily a mix of natural and synthetic graphite, and we think that will continue given the slightly different performance characteristics of the different types of graphite material,” he added.  

Verner also shared his thoughts about Syrah Resources, which is developing the largest natural graphite project in the world, and what’s ahead in terms of supply — something market watchers are keeping an eye on.

The CEO stressed that production at Balama will be driven by market demand going forward.

“Next year we expect to produce between 250,000 and 300,000 tonnes and we will move to full capacity depending on demand,” he added.

Listen to the interview above for more insight from Verner, including his thoughts on what’s next for anode technology, more on graphite supply and what’s next for Syrah Resources.

You can also click here to listen to our full Benchmark Minerals Week’s interviews playlist on YouTube.

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Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in contributed article. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.