TIDMTGR
RNS Number : 3776K
Tirupati Graphite PLC
04 January 2021
4 January 2021
Tirupati Graphite plc ('Tirupati' or the 'Company')
Vatomina Graphite Project Update, Madagascar
Tirupati Graphite plc, the fully integrated, revenue generative,
specialist graphite producer and graphene developer with operations
in Madagascar and India, is pleased to announce an update on its
Vatomina Project ('Vatomina') in Madagascar, which is on track to
be commissioned Q2 2021.
Overview
-- Post admission on 14 December 2020, fast tracking expansion
of primary graphite output from Vatomina and Sahamamy Madagascan
projects with several workstreams initiated
-- On track to commission Vatomina in Q2 2021 and build
production to 6,000 tpa; this will take the capacity across both
projects to 9,000 tpa flake graphite output
-- Strong market given demand growth within the flake graphite
market driven by electric vehicles and expandable graphite
applications
-- The earth work conducted annually in mining activities is
expected see an increase from current c.200,000 tpa to c.600,000
tpa across the projects upon completion
-- The output of by-product sand is expected to see an increase
from current c.30,000 tpa currently used internally to c.90,000
tpa
Shishir Poddar, CEO of Tirupati Graphite, said, "The expansion
of primary graphite output from our Madagascan projects to reach
9,000 tpa capacity is another important milestone and constituent
of our development plan. The demand within the flake graphite
market is increasing, which is helpful in our endeavours to
expedite the delivery of additional capacity. We are on track to
commission the Vatomina project in Q2 2021, which will help us
further develop the existing markets for our flake graphite and
provide quality inputs for our downstream speciality graphite
projects."
Further Information
Since listing on the Main Market of the London Stock Exchange on
14 December 2020, Tirupati has continued to advance its operations
across its portfolio including its two primary mining and
processing projects in Madagascar, Vatomina and Sahamamy, and its
speciality graphite and graphene processing businesses in
India.
In Madagascar, the Company's strategy is to increase its
production capacity of high-quality flake graphite concentrate with
up to 96% purity to 81,000 tonnes per annum ('tpa') by 2024 from
the current 3,000 tpa produced at Sahamamy and sold to customers
globally. In line with this, the Company is on track to commission
Vatomina in Q2 2021 and build its production to 6,000 tpa having
commenced the final phase of construction for the first module;
this will take the capacity across both projects to 9,000 tpa.
The following workstreams have been initiated across the
projects:
-- Construction activities for the processing plant and related infrastructure in Vatomina.
-- Strengthening and extension of internal road infrastructure at Vatomina.
-- Acquisition of additional land surface rights to expand the
existing land bank in the Vatomina Permit area for extensions of
mineralisation.
-- Procurement of earthmoving equipment and the balance of processing plant equipment.
-- Hiring of additional human resources.
-- Construction of the new road connecting the Vatomina and Sahamamy projects.
-- Preparation of the Sahamamy project for further capacity development.
-- Preparations for the next phase of exploration activities to
upgrade and expand the existing mineral resource inventory across
both projects.
The earth work conducted annually in mining activities is
expected see an increase from current c. 200,000 tpa to c. 600,000
tpa across the projects upon completion, while the output of
by-product sand is expected to see an increase from current
c.30,000 tpa currently used internally to c.90,000 tpa.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014. Upon the publication of
this announcement, this inside information is now considered to be
in the public domain.
** ENDS **
For further information, please visit
https://www.tirupatigraphite.co.uk/ or contact:
Tirupati Graphite Plc
Puruvi Poddar +44 (0) 20 3984 9894
Optiva Securities Limited (Broker)
Daniel Ingram +44 (0) 20 3137 1902
---------------------
St Brides Partners Ltd (Financial PR)
Isabel de Salis / Cosima Akerman +44 (0) 20 236 1177
---------------------
Notes
Tirupati Graphite Plc is a revenue-generative, multi-asset,
multi-jurisdictional, fully integrated producer and developer of
high-grade natural flake graphite, speciality graphite and
graphene, which captures the entire value chain. With a unique set
of properties, graphite has diverse applications with multiple
growth streams and graphene forms the new generation of 2D
materials. In support of this, the Company places a special
emphasis on "green" applications, including renewable energy
generation, energy storage and composites, and is committed to
ensuring its operations are sustainable as well.
The Company's operations include primary mining and processing
in Madagascar, where the Company operates two key projects,
Sahamamy and Vatomina; 3,000 tpa of high-quality flake graphite
concentrate with up to 96% purity is currently being produced and
sold to customers globally, and this is planned to increase to
81,000 tpa by 2024 as per the Company's modular medium-term
development plan.
In India, through Tirupati Speciality Graphite Private Limited
('TSG'), with whom the Company has a binding acquisition agreement
subject to regulatory approvals, Tirupati processes and produces
speciality graphite for use in hi-tech applications like
lithium-ion batteries, fire retardants and composites. Its
specialty graphite processing operations include the 1,200 tpa
Patalganga Project, which was commissioned in July 2019 to
manufacture and sell CARBOFLAMEX(R), a trademarked fire-retardant
expandable graphite product. At the next stage of development,
Patalganga shall further be expanded to 4,800 tpa capacity with
capabilities to also produce high purity and micronised graphite,
so increasing market and product reach by 2021. TSG has developed
unique green processing technologies for manufacturing these
advanced materials.
After establishing itself in the specialty graphite markets
through the Patalganga Project, an additional 24,000 tpa specialty
graphite processing facility is to be established in two 12,000 tpa
phases. The plant will produce expandable, high purity, micronised
and spherical graphite. The west coast of India has been chosen as
the location and a detailed feasibility study has been completed.
TSG is also in the process of establishing the Tirupati Graphene
and Mintech Research Centre, a state-of-the-art R&D centre
focussed on manufacturing graphene, developing its applications,
and further providing environmentally friendly technologies
consultancy for mineral processing. Land acquisition is in progress
in Bhubaneswar, India, and a detailed feasibility study
completed.
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