Syrah Resources ( (AU:SYR) ) has issued an update.
Syrah Resources reported a challenging year in 2024 with a net loss of US$125 million despite achieving significant milestones like the commencement of operations at its Vidalia facility in the USA, making it the first commercial-scale natural graphite AAM supplier outside China. The company faced volatile market conditions, particularly due to China’s dominance in the graphite market and local disruptions in Mozambique, which impacted its operations and sales. Syrah secured multi-year offtake agreements and financial support to sustain its operations and continues to focus on safety, responsible mining, and local workforce development.
More about Syrah Resources
Syrah Resources Limited operates in the mining industry, focusing on the production and supply of natural graphite. The company is a significant player in the ex-China natural graphite anode market, with operations in Mozambique and the United States. Syrah is known for its vertically integrated production of active anode material (AAM) and has established itself as a key supplier outside China.
YTD Price Performance: 38.41%
Average Trading Volume: 74,416
Technical Sentiment Signal: Buy
Current Market Cap: $193.2M
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