Syrah Resources Secures $165 Million Tax Credit for Expansion in the U.S.

Syrah Resources

Boosting Production Capabilities

Syrah Resources, an Australian graphite producer, has been awarded a substantial $165 million tax credit under the U.S. Inflation Reduction Act. This financial boost is earmarked for potential expansion of its Vidalia Active Anode Material (AAM) plant located in Louisiana.

Expansion Plans and Raw Material Sourcing

The tax credit will facilitate the expansion of the Vidalia facility’s production capacity from 11,250 metric tonnes per year to 45,000 metric tonnes per year. This significant increase will support the growing demand for anode materials necessary for battery technologies. Additionally, the Vidalia facility processes natural graphite from Syrah's Balama operation in Mozambique, which is integral to the production of high-quality anode materials.