africa Economy export FDI Mining Mozambique Natural Resources

Syrah says Mozambique project remains on schedule

Construction activities at Syrah Resources’ Balama graphite project, in Mozambique, remain on schedule, the company reported on Wednesday, denying reports of civil unrest in Mozambique.

“I am not aware of any material civil unrest in Mozambique and further have not observed any recent material changes in political and business activities throughout the country,” commented Syrah Resources nonexecutive director and founding partner of Mozambique legal firm Sal Caleira Advogados, Jose Caldeira.

He was responding to a letter from the ASX questioning Syrah’s recent share price movements.

Syrah MD Tolga Komova also stressed that the company had not experienced any impact on its activities at Balama and reported that the first ore and production ramp-up would occur in the second quarter of next year.

“Concrete works are progressing, regular deliveries of long-lead equipment items from South Africa are occurring and the construction contractor is fully engaged,” he said.

Source: Mining Weekly


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