Syrah Resources Limited has pushed back the expected financial close for its non-binding strategic funding proposals to the first half of 2027 as agreement on binding documentation takes longer than anticipated.

The funding arrangements involve non-binding proposals from the United States International Development Finance Corporation, the United States Department of Energy, and AustralianSuper. These proposals were originally designed to support Syrah's position in ex-China natural graphite and active anode material supply, providing financial backing to operate and ramp up assets as markets evolve. While Syrah continues advancing the proposed transactions with the backers, work on binding documentation has slowed due to an immediate operational focus on securing a separate loan disbursement.

The company is progressing a further US$15 million loan disbursement from the United States International Development Finance Corporation to its subsidiary, Twigg Exploration and Mining Limitada. This funding is earmarked for working and sustaining capital at the Balama graphite operation in Mozambique, with completion now expected in October 2026. This near-term priority remains subject to DFC approvals and other conditions, and its execution has temporarily taken precedence over finalising the broader funding package.

The strategic funding proposals remain conditional on several items, including the execution of binding transaction documentation and the receipt of government, regulatory, and Syrah shareholder approvals. Consequently, the company noted that there is no certainty that the proposed transactions will proceed in their previously announced form or at all.

Read the full announcement: Strategic Funding Proposals Implementation Update