SRHYY - Syrah Resources shares plunge after attacks near Mozambique mine

Syrah Resources (OTCPK:SYAAF) said on Thursday there were insurgent attacks near its Balama graphite operations in northern Mozambique, which caused the miner to halt a key transport route. Syrah (OTCPK:SYAAF), whose shares in Australia slumped as much as 15% in response, said it was the second confirmed attack in the region in recent days. The company said mining and processing operations are continuing even as logistics and personnel movements were suspended on the route. Syrah (OTCPK:SYAAF) has flagged similar risks in the past, warning its operations could be affected by political instability in Mozambique. Earlier this year, Syrah Resources (OTCPK:SYAAF) said it was awarded a $107M loan from the U.S. Department of Energy to build a Louisiana electric vehicle battery plant.

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Syrah Resources shares plunge after attacks near Mozambique mine