The Australian company that operates the graphite mine in Balama in Cabo Delgado province has suspended all travel to and from its operations in the area after a second insurgent attack in Ancuabe. Shares in the company Syrah Resources immediately fell 15%.

Another Australian company with a graphite mining project in Ancuabe, Triton, has also suspended its stock market trading as a result of the attacks.

Shares of both companies had been falling for a few months due to the fact that rebel activities in the province were not being controlled as anticipated.

In a statement issued Wednesday, 9, and quoted by VOA, Syrah noted that the second rebel attack in the Ancuabe region took place about 200 kilometers from the Balama project, but only 30/40 kilometers from National Road Number 1, which is the main transportation route between Balama, Nacala and Pemba.

Because of this the Australian company has suspended all transport to and from the mine.

"Syrah's highest priority is the health and safety of its employees and contract workers," said a company statement in justifying the suspension of transports.

The note added that Syrah "remains in close contact with the government, security authorities and other parties involved to monitor the situation and assess the safe resumption of transport operations."

"Syrah will continue to brief the exchange on the security situation and any impacts on Balama operations," the statement concluded.

Earlier, in an annual report on its operations, Syrah had claimed to have "significant security measures and protocols" in Balama, without, however, giving further details, and added that "these security measures do not guarantee that (security) risks will not recur."

For its part, Triton, which is developing a graphite project in Ancuabe, has issued no statement other than to suspend trading on the Australian stock exchange.

Another company, Battery Minerals, which also operates in Cabo Delgado, said it was not affected by the latest rebel actions.

The U.S. Department of Energy recently announced that it was going to lend $107 million to graphite mining company Syrah Resources to expand an electric vehicle battery parts plant in the state of Louisiana.

Syrah said it expects the loan to be completed in June and the funds to be allocated in September.

This is the first loan in more than 10 years from a special financing program of that American ministry.

Syrah has plans to use the loan to help finance the expansion of a plant in Louisiana that will process graphite mined from Mozambique into anodes, the positively charged electrode of a battery.

The facility is expected to produce enough anodes to build 2.3 million electric cars by 2040.