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Graphite miner slumps on severe price fall

Graphite heavyweight Syrah Resources has been walloped by the market after the “sudden and material decrease in spot natural flake graphite prices in China” forced it to take an axe to production from its Balama project in Mozambique.

Graphite miner slumps on severe price fall Graphite miner slumps on severe price fall Graphite miner slumps on severe price fall Graphite miner slumps on severe price fall Graphite miner slumps on severe price fall

The clouds have got darker over Balama in Mozambique

Syrah said production would be reduced to 5,000 tonnes per month, less than a quarter of the project's capacity, with the company to be "focused on value over volume and disciplined cash conservation"

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