Syrah Resources suspends movement on key route after attacks in northern Mozambique

Syrah’s Balama graphite project in Mozambique. Image from Syrah Resources.

Syrah Resources said on Thursday there were insurgent attacks near its Balama graphite operations in northern Mozambique, which prompted the Australian miner to preemptively suspend movement on a key transport route.

Shares of Syrah dropped as much as 15.3% to A$1.30, their worst intraday session since April 2020.

The company said mining and processing operations at the graphite project in the south African nation remain uninterrupted even as logistics and personnel movements were suspended on the route.

The attack is the second confirmed incident in the Ancuabe district in recent days, Syrah said.

(By Harshita Swaminathan; Editing by Sherry Jacob-Phillips)

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