Syrah targets EV battery market with Mozambique graphite mine
The Balama project will cut into China’s dominance in the sector
Australian-listed Syrah Resources is targeting the market for electric vehicle batteries with its Balama graphite mine in Mozambique, which started production in November. A global scramble is on for commodities such as graphite, cobalt and lithium, which are among the key components in the rechargeable lithium-ion batteries used to power mobile devices and electric vehicles. "The growth market and our focus in the coming years is very much in the lithium-ion battery segment," Syrah CE Shaun Verner said. Verner said Syrah saw the market for natural-flake graphite more than doubling over the next eight years to 1.6-million tonnes from 700,000 tonnes currently, with the battery industry accounting for the bulk of that demand. Battery demand is now about 200,000 tonnes, or about 30% of the market. "About 70% of our production is ... the smaller flake in demand in the battery sector," Verner said. Capacity for the Balama mine and plant is 350,000 tonnes annually and the company is looki...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.