Mozambique: Oil companies unlikely to return until next year - consultants
FILE - For illustration purposes only. [File photo: Syrah Resources]
Australia’s Syrah Resources said on Friday movement on a key transport route in Mozambique had resumed more than a week after it was suspended following insurgent attacks near its Balama graphite mine.
The miner had last week suspended logistics and personnel movements on the primary route in northern Mozambique due to security concerns in Cabo Delgado province, about 200 kilometres (124.3 miles) from the Balama mine.
Syrah said operations at Balama were unaffected by the travel restrictions and movement had resumed following direct monitoring and security assessments from “qualified third parties”.
Shares of the company gave up 3.7% by 0212 GMT in a weaker broader market, and have fallen about 23% since last week’s suspension.
Balama logistics & personnel movements will recommence following a review of security with contractors and other key stakeholders. Mining & processing at Balama were not affected by the temporary suspension of logistics and personnel movement.https://t.co/mQZf4Tmjik $SYR pic.twitter.com/ynmlYdLs71
— Syrah Resources (@SyrahResources) June 16, 2022