Balama Graphite Mine Delivers 26,000 Tonnes in Q3 2025 After Restart

The Balama graphite mine in Mozambique, owned by Syrah Resources, has successfully completed its first full quarter of production since operations resumed in June 2025, following a suspension of over a year. During the third quarter of 2025, the mine produced 26,000 tonnes of graphite, marking a significant milestone in its recovery and reaffirming its position as Africa’s largest graphite operation. The restart reflects Syrah’s renewed focus on market-driven production and operational adaptability amid continuing volatility in global graphite markets.

Balama’s production halt in July 2024 had been prompted by weak global graphite prices and operational disruptions at the site. However, since its restart, Syrah has implemented a “campaign mode” production strategy, enabling the mine to align output more closely with real-time demand conditions. This operational model allows the company to scale production efficiently while mitigating risks associated with fluctuating prices and inconsistent demand from battery and electric vehicle manufacturers. During the quarter, total sales reached 24,000 tonnes, generating approximately US$15 million in revenue, with an average realized price of US$625 per tonne.

At full capacity, Balama is capable of producing up to 350,000 tonnes of graphite annually, making it a cornerstone asset for the global natural graphite supply chain. Although Syrah has not issued formal production forecasts for the coming quarters, it has emphasized flexibility as a core operational principle, maintaining readiness to ramp up production should market conditions strengthen. This approach aligns with the company’s broader strategy to balance financial discipline with responsiveness to the accelerating demand for graphite, particularly from the electric vehicle and energy storage sectors.

Balama’s resumption and steady output signal a potential resurgence of Mozambique’s role in the global battery materials market. As natural graphite remains a critical component in lithium-ion batteries, Syrah’s cautious yet scalable production model could strengthen Africa’s contribution to the clean energy transition while providing economic resilience against commodity market fluctuations. If global demand continues to rise, Balama may emerge as a pivotal supplier supporting the growth of the electric mobility and renewable energy industries.

Mini-Glossary

• Campaign Mode: A flexible production approach where mining operations are adjusted based on demand rather than continuous full-capacity output.
• Graphite: A naturally occurring form of carbon used in batteries, particularly as an anode material in lithium-ion cells.
• Capacity: The maximum output a mine or plant can produce under normal operating conditions.
• Natural Graphite: Graphite extracted directly from mining operations, as opposed to synthetic graphite produced industrially.