Syrah Resources (ASX:SYR) suspend production at Balama Graphite Operation

Company News

by Rachael Jones

Syrah Resources (ASX:SYR) says The Government of Mozambique has enacted additional measures in relation to the management of COVID-19, including suspension of all inbound travel visa operations and mandating 14-day selfquarantine for all international arrivals.

These restrictions limit the mobility of a significant portion of the Balama workforce, and the Company will therefore temporarily suspend production at Balama Graphite Operation from tomorrow.

Sales orders from existing finished product inventory will continue to be dispatched.

Syrah continues to expect its end of quarter cash balance to be broadly aligned to existing guidance of US$64.6 million.

Shares in Syrah Resources (ASX:SYR) are trading 1.96 per cent lower at 25 cents.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.