The Balama graphite mine, in Mozambique, will miss it second-quarter production guidance by about 5 000 t, as results from owner Syrah Resources’ production improvement plan took longer than expected to materialise.
The Australia-based mining company said on Friday that the second-quarter production would be in a range of 45 000 t to 50 000 t, from its previous guidance of 50 000 t to 55 000 t. The bottom-end of the new guidance is below the previous quarter’s production of 48 000 t.
Syrah said that the results of its production improvement plan were expected to accelerate from June into the third quarter.
Second-quarter sales volumes were forecast to be about 50 000 t, compared with 48 000 t in the preceding quarter.
The company would release its June quarter activities in July.
Syrah closed 3.64% lower on the ASX at A$1.06 a share on Friday.