Syrah Resources’ mining agreement which governs the Balama operation
has been sanctioned by the administrative court.
The development completes all required steps for the mining agreement
to be binding and enforceable.
“The Mining Agreement consolidates all prior project documents and
approvals. It also provides the Company with clarity around the
governing laws, mining rights and other obligations for the Balama
operation, including by preserving certain mining and tax laws in
force in 2013 when the Mining Concession was issued, for the life of
the Mining Agreement, said the company.
Shaun Verner, Syrah’s Managing Director and Chief Executive Officer
said: the finalisation of the mining agreement represents another
significant milestone for the company and reaffirms government’s
commitment to the long term success of the Balama Operation.
“Balama has been operating since commencement in accordance with the
agreed terms and our stakeholders can be even more confident that the
company will be able to conduct its operations under a stable legal,
fiscal and operating regime, which underpins Syrah’s position as the
world’s premier producer of high quality graphite now, and into the
future.”
