Syrah Resources on Track for Q1 2017 Production at Balama

Syrah Resources Ltd. (ASX:SYR) released an update on its Mozambique-based Balama project, commenting that production remains on track for the first quarter of 2017. Work is progressing on a process plant, as well as on procurement and contracts.
Process plant developments include:

• Farmland relocation and land clearing for the construction of the processing plant (including crushing, grinding, flotation, filtering and drying of the concentrate and product storage areas) successfully completed in August 2015
• Construction License has been approved by the Mozambican authorities and bulk earthworks for the processing plant site and access road has commenced, with substantial completion targeted prior to the wet season in November 2015. Design for the civil works is well advanced
• Front End Engineering Design (FEED) on the processing plant has been completed and detailed engineering design is now underway and is being conducted by CPC Engineering
• Successful trials have been undertaken to determine the optimal drying, filtering and thickening equipment and the majority of vendor test work has been completed

Tolga Kumova, managing director at Syrah, commented:

The completion of a fully underwritten capital raising during volatile financial markets and a general commodities downturn reaffirms the confidence of global investors in the strength of the Balama Project and the fundamentals of the graphite market. The project development, operational and marketing teams are now working closely together to ensure the successful construction and ramp up of the Balama Project by Q1 2017, and to establish Syrah as the leading and largest producer of high quality graphite products in the world.

Click here to read the full Syrah Resources Ltd. (ASX:SYR) press release.