trending Market Intelligence /marketintelligence/en/news-insights/trending/juSk2BhircdQyTqNtHDxHw2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Syrah to battle graphite market downturn with production, staff cuts at Balama

Greenhouse gas and gold mines Nearly 1 ton of CO2 emitted per ounce of gold produced in 2019

Essential Metals & Mining Insights - September 2020

Essential Metals & Mining Insights - August 2020

State of the Market: Mining Q2-2020


Syrah to battle graphite market downturn with production, staff cuts at Balama

Syrah Resources Ltd. plans to reduce production and staff at its Balama operation in Mozambique after completing the structural review it started in September in light of a downturn in flake graphite spot prices.

The company said Oct. 18 it will produce 120,000 to 150,000 tonnes in 2020, compared to revised guidance of 205,000 to 245,000 tonnes for 2019.

Production in the fourth quarter of this year will continue at about 5,000 tonnes per month.

Syrah expects annualized saving of about US$22 million at Balama and will lay off about 30% of the staff at the mine.

The company will save a further US$1.5 million mainly due to executive management headcount reduction.

Managing Director and CEO Shaun Verner said the majority of the savings are expected to be realized from the start of 2020.

"It is still too early to gauge the pace of market reaction, however, we will continue to actively monitor and review market conditions and manage our production volume accordingly," Verner added.