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Balama graphite mine achieves significant export agreement with Indonesian battery manufacturer

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The Balama graphite mine, situated in Cabo Delgado province, marked its entry into the market this year by exporting its ore to an Indonesian battery manufacturer, with a purchase of 10,000 tons reported by Australian mining firm Syrah, as quoted by News newspaper.

Syrah, the owner of the mine, disclosed to the markets that this transaction represents the “first sale of large volumes” of natural graphite from Balama to Indonesia, bought by BTR New Energy Materials.

This milestone signifies the “first large-volume sale of natural graphite to a participant in the battery supply chain outside China,” stated Syrah.

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The mining company elaborated that this bulk sale follows a trial shipment of containers of natural graphite fines from Balama to Indonesia in the first quarter of 2024, highlighting it as a significant development in their sales diversification strategy.

Further insights from Syrah reveal that BTR New Materials Group is in the process of constructing a $478 million battery factory in Indonesia, slated to commence production in 2024, which is anticipated to drive additional sales from the Balama mine.

Additionally, Syrah noted that sales of natural graphite from the Balama mine in the first quarter were on par with those in the final quarter of 2023.

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