TIDMTGR
RNS Number : 6805G
Tirupati Graphite PLC
31 March 2022
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31 March 2022
Tirupati Graphite plc
('Tirupati' or the 'Company')
Sahamamy Project Development Update
Tirupati Graphite plc (TGR.L, TGRHF.OTCQX), the specialist
graphite and graphene company developing sustainable new age
materials, is pleased to provide a fiscal year-end update on the
expansion of the Sahamamy primary graphite project.
The construction of the 18,000 tonnes per annum ("ktpa") second
module to increase the Company's flake graphite capacity in
Madagascar to 30ktpa remains on track to enter production in H2
calendar year 2022.
The completion of the expansion at Sahamamy will be a material
step towards the mid-term target of increasing Tirupati's
production capacity to 84,000 tpa by the end 2024.
Recent Milestones
-- The first set of processing plant equipment has been shipped
from India to Madagascar, with further shipments ongoing until mid-
May 2022.
-- To add to the mining fleet which arrived at the project site
in January, two Komatsu 30 tonne articulated dump trucks ("ADTs")
have arrived and been deployed. The final two Komatsu ADT's are
expected to arrive in May which will complete the fleet planned for
the enlarged operations at Sahamamy.
-- The new road built by the Company connecting the Sahamamy
Project to the national highway leading to Tamatave sea port and to
its Vatomina Project has been widened to accommodate heavy plant
equipment for the Sahamamy plant and the transport of product from
the enlarged operations.
-- The 100-kilowatt hydropower plant equipment, including
turbine and generator, has been shipped to Madagascar and
construction of the canals and water embankments is nearing
completion.
-- Commissioning of the hydropower plant is expected to complete
by June 2022 and will reduce the use of diesel generators at
Sahamamy delivering a reduction in GHG emissions and power
costs.
Shishir Poddar, Executive Chairman of Tirupati Graphite,
said:
"I am delighted that we have maintained progress with the
development of the 18,000 tpa Sahamamy project despite difficult
weather conditions in recent months. Sahamamy remains on track to
complete construction and commence commissioning by the end of June
2022 as we continue to ramp-up our primary graphite production
capacity to a target of 84,000 tpa by 2024."
Enquiries:
Tirupati Graphite Plc admin@tirupatigraphite.co.uk
Puruvi Poddar - Chief of Corporate & Business +44 (0) 20 39849894
Development
Optiva Securities Limited (Broker)
Ben Maitland - Corporate Finance +44 (0) 20 3034 2707
Robert Emmet - Corporate Broking +44 (0) 20 3981 4173
FTI Consulting (Financial PR) +44 (0) 20 3727 1000
Ben Brewerton / Nick Hennis / Ojasvi Goel tirupati@fticonsulting.com
/ Kelly Smith
https://www.tirupatigraphite.co.uk/
About Tirupati Graphite
Tirupati Graphite Plc is the specialist graphite and graphene
company developing sustainable new age materials. With a unique set
of properties, graphite has diverse applications with multiple
growth streams and graphene forms the new generation of 2D and
advanced materials. The Company places a special emphasis on
"green" applications, including renewable energy and energy
efficiency, energy storage, thermal management, and advanced
materials development, 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; 12,000 tpa installed capacity of
high-quality flake graphite concentrate with up to 96% purity is
currently being produced and sold to customers globally, planned to
increase to 84,000 tpa by end 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 is developing a suite of
speciality graphite for use in hi-tech applications like
lithium-ion batteries, fire retardants, thermal management, and
composites. Its current operations include the 1,200 tpa Patalganga
Project, focused on manufacturing the Company's trademarked
expandable graphite products CARBOFLAMEX(R) and GrafEN 45545(TM).
TSG is further expanding the Patalganga Project to 4,800 tpa and
developing the 30,000 tpa specialty graphite project in two 15,000
tpa modules which will include capabilities to manufacture
high-purity, expandable, micronized and spherical graphite and
using its unique green processing technologies for the
manufacturing of these advanced materials.
TSG has also established and continues to develop the Tirupati
Graphene and Mintech Research Centre, a state-of-the-art R&D
centre focussed on manufacturing graphene, developing its
applications and advanced materials using graphene, and further
providing environmentally friendly technologies consultancy for
mineral processing.
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