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Dec 12 (Reuters) - A unit of Australia's Syrah Resources SYR.AX has declared a force majeure event at its Balama Graphite Operation amid post-election civil unrest in Mozambique, the miner said on Thursday.
Shares in Syrah, which has a natural graphite supply deal with Tesla TSLA.O, fell as much as 32.1% in early trading to A$0.18, their lowest level since March 2020.
Disputed election results that were announced in October sparked protests from opposition supporters in Mozambique, triggering escalating violence.
Syrah said it was unable to produce graphite at the Balama project in the December quarter due to the protests. It added that the production was crucial for filling out its product inventory and for sales.
"The movement of people and supplies, site access and plant operations have continued to be interrupted," the miner said in a statement.
The protests' impact has also caused the company to default on its loans with the U.S. International Development Finance Corporation (DFC) and the U.S. Department of Energy (DOE).
"Syrah is engaging with DFC and DOE regarding these events of default," the company said.
Earlier this week, diversified miner South32 S32.AX had withdrawn its output forecast for its Mozal Aluminium smelter in Mozambique, citing the protests.
(Reporting by Aaditya Govind Rao in Bengaluru; Editing by Shreya Biswas)
((Aaditya.GovindRao@thomsonreuters.com;))
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