from ARMANDO DOMINGOS in Maputo, Mozambique
MAPUTO – MOZAMBIQUE is set to be a global leader in graphite mining in the next few months.
Production, which has been halted since March last year because of the outbreak of the coronavirus (COVID-19), is to resume in the next two or three months.
Syrah Resources, the Australian-based industrial minerals and technology company, will resume production at Balama, northern Mozambique.
The deposit in Balama is considered the largest high-grade deposit of graphite in the world.
Balama’s 50+ year mine life, and high reserve grade (16 percent total graphitic carbon) will enable the Syrah to participate in the long term growth of the electric vehicle industry.
Rand Merchant Bank stated prices are expected to climb over the next few years as graphite is a key component of lithium-ion batteries, which are used in everything from cell phones to electric cars.
Mozambique is already a leading player in natural gas.
According to the United States Energy Information Administration, the Southern African country holds 100 trillion cubic feet (Tcf) of proved gas reserves.
It is the third-largest holder of proved natural gas reserves in Africa after Nigeria and Algeria.