Australian mining company Syrah Resources declared "Force Majeure" on Wednesday and suspended its operations at the Balama mine, in Cabo Delgado province, as a result of the current socio-political situation.

A statement issued today by the company emphasizes that this measure has to do with the progression of the post-election protests that are already affecting several mining companies.

The document notes that the demonstrations have limited the containment actions by government structures at central level, as in Balama.

Nevertheless, "protest actions at Balama, originally linked to a small group of farmers with historical grievances over farmland resettlement, began in late September 2024, impeding Syrah's ability to conduct operations at the Balama facility.... The majority of operational staff have been demobilized from the site and a full contracted security presence remains in place," the document reads.

Out of doors, the measure led Syrah to lose up to 32% in the value of its shares, trading at 19.25 Australian cents.

"The impacts and duration of the protest actions triggered events of default on the Company's loans with the United States International Development Finance Corporation ("DFC") and the United States Department of Energy ("DOE"). Syrah is engaging with DFC and DOE regarding these events of default," it reads.

The company recently received a 150 million dollar loan from the DFC to support its graphite operations in Balama.

In Mozambique, Syrah Resources operates through its subsidiary Twigg Exploration and Mining, Limitada ("Twigg").