Syrah Resources Reports Strong Q3 with Balama Restart and Vidalia Progress

Syrah Resources Ltd (ASX: SYR) delivered a solid Q3 2025 performance, highlighted by the restart of operations at Balama and continued progress at the Vidalia active anode material (AAM) facility. Balama produced 26,000 tonnes of natural graphite at 68% recovery and 95% grade, generating US$24 million in sales. Operational cash flow improved significantly, with a US$3 million outflow versus US$21 million in the prior quarter.

The company also secured a US$12 million Section 45X US tax credit and advanced qualification with Tier 1 battery manufacturers for Vidalia’s commercial sales. Syrah ended the quarter with US$87 million in cash. CEO Shaun Verner noted that US and global trade policy developments — including tariffs on Chinese graphite — are strengthening Syrah’s competitive position as the leading graphite and AAM producer outside China.

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