DFC to convert loan into equity in Syrah Resources to secure U.S. access to Balama graphite mine and Vidalia anode plant

The U.S. International Development Finance Corporation (DFC) proposed a strategic investment in Syrah Resources Limited, the parent company of the Balama graphite mine in Mozambique and the Vidalia Active Anode Material (AAM) processing facility in Louisiana, USA. DFC will convert a portion of its existing loan to Balama into common equity in Syrah, with the remaining balance rolling into a convertible loan note (CLN), while contributing new-money investment to provide immediate liquidity for Balama operations. The transaction includes warrants for DFC to acquire additional equity and an option for further CLN financing to cover contingent expenses. Syrah’s Balama mine, one of the world’s largest natural graphite reserves, will supply raw material to Vidalia’s downstream AAM facility, the first of its kind in the U.S., producing high-performance graphite anode materials for lithium-ion batteries. The deal aligns with DFC’s focus on securing critical mineral supply chains for U.S. allies, including Australia, Japan, and South Korea, and builds on the U.S.-Australia Critical Minerals Framework Agreement.

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Syrah Resources Limited

company

Investor

US International Development Finance Corporation (DFC)

company

The U.S. International Development Finance Corporation (DFC) is a U.S. government development finance institution that provides financing for private sector development projects in emerging markets. With a portfolio of approximately $44 billion, DFC focuses on infrastructure, energy, health, food security, and financial inclusion across Africa, Latin America, Indo-Pacific, and other developing regions.

U.S. International Development Finance Corporation (DFC)

company

The U.S. International Development Finance Corporation (DFC) partners with the private sector to finance solutions to the most critical challenges facing the developing world today. DFC invests across sectors including energy, healthcare, critical infrastructure, and technology.

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AustralianSuper

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AustralianSuper is one of Australia's largest superannuation funds, with a significant and growing focus on infrastructure investments globally. They seek long-term, stable returns through investments in high-quality infrastructure assets.