mine · Mozambique
Balama
The largest natural flake graphite operation outside China.
OperatingIntermittent
Earthern Project Score
63 / 100
Operator
Syrah Resources
Country
Mozambique
Mine life
50 yrs
Capex
—
Profile
Resource, economics and jurisdiction
- Resource
- Very large, high-grade graphite resource.
- Production
- Capacity of 350 kt of graphite concentrate annually.
- Economics
- Operations are sensitive to Chinese graphite pricing and regional security.
- Infrastructure
- Road haulage to Nacala port; local power supply constraints.
- Jurisdiction
- High risk
- Ownership
- Syrah Resources 100%
- Region
- Cabo Delgado
Overview
What this asset is
The largest natural flake graphite operation outside China.
Methodology
Earthern Project Score 63
Version v0.1
- Resource Quality
- 72 (weight 1.2) — Grade, continuity and metallurgical complexity of the resource.
- Project Scale
- 62 (weight 1) — Annual output potential relative to the global market for its primary mineral.
- Development Stage
- 65 (weight 0.9) — How far the asset has advanced toward or through production.
- Jurisdiction
- 68 (weight 1.1) — Political stability, permitting predictability and rule of law.
- Infrastructure
- 60 (weight 0.9) — Access to power, water, transport and processing capacity.
- Economics
- 59 (weight 1.2) — Cost position and margin resilience through the price cycle.
- Strategic Importance
- 74 (weight 1) — Relevance to national critical mineral strategies and allied supply chains.
- Supply-Chain Value
- 60 (weight 1) — Whether the asset relieves a genuine downstream bottleneck.
- Sustainability
- 66 (weight 0.9) — Carbon intensity, water use, tailings approach and community standing.
- Execution Risk
- 65 (weight 1) — Technical, financing and schedule risk to reaching nameplate output. Higher is lower risk.
Materials
Minerals produced
Assets
