| Syrah Resources Announces Economic Assessment for Coated Spherical Graphite | |
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MELBOURNE, Australia--(BUSINESS WIRE)-- Syrah Resources (Syrah) (SYR.AX)is pleased to report the results of an Internal Economic Assessment (IEA) on the world’s largest Coated Spherical Graphite Facility in the United States. This IEA has been prepared with the assistance of China Aluminium International Engineering Corporation Limited (Chalieco) and a leading producer of coated spherical graphite. Feedback from samples sent to major electric vehicle and battery producers have indicated strong demand for and confirmed the superior performance of Balama coated spherical graphite for lithium (Li) ion applications. The IEA incorporates a 25,000 tpa Coated Spherical Graphite Facility, requiring 50,000 tpa of -100 US mesh graphite as feed. In addition, 25,000 tpa of 95% total graphitic carbon (TGC) recarburiser by-product will also be produced as part of the spheroidisation process. Initial capital expenditure requirements will be approximately US$80 million with average annual cash operating costs of US$3,200 per tonne free on board for coated spherical graphite (excluding recarburiser by-product credits). A Chief Technology Advisor has also been appointed to assist Syrah with implementing its coated spherical graphite strategy. Based on discussions with potential customers, coated spherical graphite currently sells for between US$7,000 to US$10,000 per tonne. Syrah believes, through discussions with major battery producers, that a significant increase in the global demand for lithium ion batteries is rapidly approaching with electric vehicles and battery storage breaking through to the mainstream. This is expected to shape a new era of demand in certain critical minerals, with graphite at the forefront. Initial test work has shown that anodes made from Balama coated spherical graphite are superior to Chinese natural graphite anodes and a leading synthetic graphite anode. A major anode producer has forecast spherical graphite demand to increase at a compound annual growth rate of 26% from 2014 to 2020, to reach 133,000 tonnes per annum by 2020. To satisfy this anticipated increase in demand for Li-ion batteries, several major corporations have commenced or announced plans to construct “giga” or “mega” Li-ion battery factories over the next 5 years. Benchmark Minerals forecasts that global Li-ion battery capacity will triple by 2020 to reach 120 GWh, based on planned production by LG Chem, Tesla, Foxconn, BYD Auto and Boston Power. |
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Syrah Resources
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CODE : SYR.AX |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Syrah Resources is a copper and uranium exploration company based in Australia. Syrah Resources holds various exploration projects in Australia. Its main exploration properties are ARCHIE-MACKENZIE, MT LYNDHURST and MUNNA in Australia. Syrah Resources is listed in Australia. Its market capitalisation is AU$ 67.8 millions as of today (US$ 45.5 millions, € 42.0 millions). Its stock quote reached its lowest recent point on September 10, 2010 at AU$ 0.07, and its highest recent level on June 10, 2016 at AU$ 6.66. Syrah Resources has 263 820 000 shares outstanding. |