Syrah Resources gets $107M US Load for Louisiana EV Battery Plant, page-8

It's very significant SYR gets the first loan from the DOE’s Advanced Technology Vehicles Manufacturing (ATVM) Program in 10 years. They know graphite can be a road block and desperately need to get on top of it and SYR is the only company in the US which is advanced enough who can.

The $107m isn't even enough for the 11.25ktpa plant but will go a long way in helping us get to 45ktpa. It will show the commercial banks not only is the US government serious about Vidalia being a success, but critical to the ATVM program.

Nice finish to the Canary Media article @Normandy7 posted:

Balancing the need for critical minerals with the environmental and human harms that are often caused by their mining and production is a major challenge for the Biden administration and governments around the world. On that front, Shah highlighted Syrah’s strong social and environmental track record at its Balama mining site in Mozambique and its commitments to diverse and equitable hiring in Mozambique and Louisiana.

Syrah’s Balama site has been evaluated by the U.S. International Development Finance Corporation as part of DOE’s due diligence into its conditional loan commitment, Shah noted. “The company has gone out of its way on ESG,” or environmental, social and governance standards, he said. “This has to be intentional. You have to decide you’re going to hire people locally to work in the mines safely.”

There is also a small article about it in Bloomberg. It will spread like wildfire similar to the Tesla off-take agreement. The significance of SYR getting the first loan can not be overstated. Just getting a loan is monumental.