- Syrah Resources (SYR) recommences logistics and personnel movements after a temporary suspension on its main transport route in Mozambique
- Travel on the road was suspended for a week due to security concerns amid insurgent attacks in the Cabo Delgado province which lies 200 kilometres from Syrah’s Balama mine
- The N1 road, which SYR uses as a primary transport route between Balama and Nacala and Pemba remains a key priority for government and security authorities
- Despite the temporary suspension, the company says mining and processing activities at its Balama graphite operation weren’t affected by the suspension
- Shares in Syrah are down 1.84 per cent to trade at $1.20 at 12:31 pm AEST
Syrah Resources (SYR) has recommenced logistics and personnel movements following a review of security with contractors and other key stakeholders at its Balama project in Mozambique.
Last Thursday, Syrah suspended travel on the N1 road following reported security incidents which occurred approximately 200 kilometres from the Balama Mine in Cabo Delgado province.
The N1 road, which SYR uses as a primary transport route between Balama and Nacala and Pemba, remained opened through the period and remains a key priority for government and security authorities.
Positively for the company, mining and processing at the graphite operation were not affected as the insurgent attacks occurred about 200 kilometres away from the project and none of the Balama employees or contractors were impacted.
Together with its logistics service provider, Syrah lifted the precautionary suspension of personnel and logistics movements based on direct monitoring and security assessments from qualified third parties, effective immediately.
Syrah said it continues to maintain close contact with the Mozambique government, security authorities and other stakeholders to monitor security in the region and ensure the safety of its employees and contractors.
Shares in Syrah were down 1.84 per cent to trade at $1.20 at 12:31 pm AEST.