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Syrah to restart Mozambique graphite mine in June
Syrah to restart Mozambique graphite mine in June
Sydney, 15 May (Argus) — Australian mineral producer Syrah Resources will resume operations at its 350,000 t/yr Balama graphite mine complex in Mozambique by the end of June, following a nine-month shutdown over farming and election protests, the firm announced today. The company mines and processes graphite at Balama. It will only start mining graphite at the site in the July-September quarter, the firm said. Syrah's existing graphite stockpile at Balama can support graphite processing for at least three months as mining resumes, it added. Syrah regained access to Balama in early May , for the first time since September 2024 when farmers blocked access to the mine in a non-violent protest. The company's teams have not spotted any site damage. The protest was originally linked to farmers with "historical farmland resettlement grievances", according to Syrah. But the unrest persisted and worsened after Mozambique's general election in October, which triggered violent protests across the country's major cities given claims of electoral fraud. Syrah declared force majeure on some graphite shipments in December, and triggered events of default on a US government loan over the protests. But it did not default on any payment obligations Most protestors left the mine after Syrah signed a deal with farmers and the Mozambique government in April. Mozambique authorities removed remaining demonstrators over 3-4 May and secured the site. By Avinash Govind Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Bolivian president bypasses reelection
Bolivian president bypasses reelection
Montevideo, 14 May (Argus) — Bolivian president Luis Arce will not run for a second five-year term and instead backed a united front to elect another leftist candidate. Arce's decision on Tuesday came on the eve of the filing deadline for the 17 August election. He called on former president Evo Morales to also step aside from the race to improve the chances of another left-wing contender. Morales is fighting a court ruling that he is ineligible to run after already having multiple terms. Arce said the Movement to Socialism (MAS) party should rally behind senate president Andronico Rodriguez, 36. Rodriguez announced his candidacy on 3 May as a third way, but remains closely aligned with Morales. He has led the senate since 2020. Four center-right candidates are expected to compete in the race. The MAS has governed Bolivia for most of the past 20 years. Arce and Morales, allies turned enemies, blame each other for Bolivia's economic turmoil, including its dwindling oil and natural gas production. Inflation through April was 5.5pc, up from 1.3pc in the same period last year. Inflation was 9.9pc last year, the highest since 2008. The World Bank forecasts GDP growth at 1.4pc for the year. The oil and gas sector is at the heart of the crisis. Bolivia has gone from fuel independence to importing 54pc of gasoline and 86pc of diesel, both of which are heavily subsidized. The government forecast $2.9bn on fuel subsidies this year. Crude production was close to 21,000 b/d in 2024, according to the statistics agency. It was approximately 51,000 b/d in 2014. Natural gas output, the cornerstone of Bolivia's economic growth for most of this century, has fallen. Output was approximately 33mn m³/d in 2024, down from a peak of 56mn m³/d in 2006. Proven reserves were at 4.5 trillion cf in 2023, less than half of the 10.7 trillion reported in 2017, according to the state-owned YPFB. YPFB in early May announced a new tender to certify reserves by the end of this year. Bolivia stopped daily piped gas exports to Argentina in September and has a contract to export up to 20mn m³/d to Brazil. Domestic demand for gas is close to 14mn m³/d, stated YPFB. On 1 April Argentina began using Bolivia's pipeline infrastructure to ship natural gas to Brazil. Three companies — Argentina's Pluspetrol and Tecpetrol, and France's TotalEnergies — have so far sent gas to Brazil. By Lucien Chauvin Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Rio Tinto sells first PBF cargo with new specification
Rio Tinto sells first PBF cargo with new specification
Sydney, 14 May (Argus) — UK-Australian metal producer Rio Tinto on 13 May sold its first cargo of Pilbara Blend Fines (PBF) iron ore with a revised iron content specification of 60.8pc. Years of grade challenges have led to declining volumes of the blended product, which previously contained 61.6pc Fe. Rio Tinto continues to review product strategy, based on consumer needs and available ore grades, the company told Argus on 13 May. It has notified consumers of Pilbara Blend specification changes and is engaging with them, a spokesperson added. Over the past year, market participants have reported rising volumes of the company's SP10 blend — which has a lower iron ore content, but higher alumina and phosphorus levels, than PBF — being sold into China's portside market to maintain the grade of its PBF product. The reduction in grade in PBF is expected to result in greater volumes of its flagship product being available. Rio Tinto said the average realised fob price from its Australian assets was $97.40/dmt last year — slightly below Argus ' average 2024 iron ore fines 62pc Fe (ICX) fob Australia netback of $98.46/dmt. Rio Tinto's realised fob price includes fines and lump products from across Western Australia. These include lower-grade products and the more-valuable lump, which accounts for about 30pc of total sales over most quarters. Rio Tinto is not the only company facing grade challenges. Typical grades for Australia's BHP have also been steadily declining over recent years, and ores typically deliver below 62pc Fe. Mineral Resources' average ore grade at its 10mn t/yr Pilbara Hub complex was 57.3pc in July 2024-March 2025, down from 58.2pc a year earlier. Argus ' iron ore fines 62pc Fe (ICX) cfr Qingdao price was assessed at $102.40/dmt today, down from $98.95/dmt on 14 April. Rio Tinto's revised PBF product with July delivery traded at $96.41/dmt. Argus plans to launch an assessment for 61pc Fe iron ore fines next month to reflect the ongoing decline in average grades in Australia's Pilbara region. The new price will be calculated from the same underlying spot data as the existing ICX 62pc Fe benchmark. By Avinash Govind Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Mauritania weaves GTA project into industrial strategy
Mauritania weaves GTA project into industrial strategy
Paris, 14 May (Argus) — Offshore gas production could help to meet Mauritania's power demand by 2030 while also supporting mining activity, particularly of iron ore, energy minister Mohammed Ould Khaled told the Invest in African Energy forum today. BP last month loaded the first LNG shipment from its 2.7mn t/yr Greater Tortue Ahmeyim (GTA) joint venture in Mauritanian and Senegalese waters. GTA is export-oriented, but Mauritania could still tap the project for power, Khaled said, although he added that infrastructure would need to be built to facilitate this. A tender to build a power plant fired by GTA gas will be launched in the next couple of weeks, he said. Mauritania wants to become a regional power hub within 20 years, Khaled said, and hopes to see construction of a power link "to the north" — in the direction of Western Sahara/Morocco. The Mauritanian power grid is already connected to Senegal and Mali, he said. Future power generation projects will be funded by the private sector and incentivised through tax breaks, Khaled said, with 550MW set to become available to the domestic market through private-sector projects over the next couple of years. Mauritania is also looking for partners to develop the 50 trillion-60 trillion ft³ Bir Allah gas field for export and domestic markets. The area lies 50km north of GTA and exclusively in Mauritanian waters, according to Khaled, with two wells already having been sunk. Bir Allah is "three times bigger than GTA", he said. BP and Kosmos Energy signed an exploration and production-sharing agreement for the site in late 2022 , with BP saying gas from the field will be used to expand GTA to 10mn t/yr. It is unclear whether BP or Kosmos Energy are still partners in the Bir Allah development project. By George Maher-Bonnett Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
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