Syrah reports 'illegal' industrial action at Mozambique graphite mine
ASX-listed Syrah Resources’ share price fell 18% on Monday, as the company exited its trading halt and announced that operations at its Balama graphite mine, in Mozambique, had been interrupted by “illegal industrial action”.
The company halted operations at Balama last week Tuesday, owing to the disruption of access to the site and out of caution for the safety of its employees and contractors.
Syrah explained that, under a company level agreement (CLA) covering the majority of site employees, the firm had been engaged in discussions for periodic renewal of conditions with the designated representatives of its unionised workforce.
A small group outside of the CLA negotiation process instigated the industrial action, the company said, adding that the group’s actions were not deemed representative of the majority of the Balama workforce.
Following a review of security, Syrah reported on Monday that it was coordinating a return of its workforce to the site and that it would seek to restore Balama’s full operational capability as soon as possible.
Balama has produced 38 000 t natural graphite for the quarter to date. Natural graphite sales were 54 000 t for the quarter to date, with about 5 000 t of further shipments from Nacala this month that would not be impacted by the industrial action.
The majority of finished product inventory is located at the port.
Syrah’s share price closed at A$1.56 a share on Monday, down from its previous close of A$1.90 a share on September 20.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...
VISIT SHOWROOM
CMTS is a leading, well-established EC&I contractor with 37+ years of mining and industrial experience. We execute full-scope EC&I projects with...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
