The United States is boosting investment in graphite at the Balama mine in Cabo Delgado with an $8.5 million (MZN 537.2 million) loan to Australian miner Syrah Resources, which produces graphite for electric vehicle batteries.
Syrah Resources confirmed the funding is a new tranche from a total $150 million (MZN 9.5 billion) loan package approved by the U.S. International Development Finance Corporation (DFC), underscoring Balama’s strategic role in critical minerals supply chains.The DFC has postponed interest payments on this tranche until May 2026, with Syrah providing guarantees on its shares to secure the loan. The funds will strengthen working capital and maintain mine operations, leaving $68 million (MZN 4.3 billion) in remaining support.
The company’s Chief Executive Officer Shaun Verner noted, “Balama is the world’s largest integrated graphite mining and processing operation, vital for the energy transition and EV supply chains in the U.S.” Following six months of disruption from social unrest, Balama produced 26,000 tons of graphite in the third quarter. Exports to the U.S. and Indonesia resumed on 24 July 2025 after operations restarted on 19 June 2025.
“The agreement reinforces Balama’s role in securing essential mineral supply chains and supports U.S. priorities in energy, transportation and national security,” concluded Syrah Resources.
