TIDMTGR
RNS Number : 2179T
Tirupati Graphite PLC
21 July 2022
21 July 2022
Tirupati Graphite plc
('Tirupati', 'TG' or the 'Company')
Update on Madagascar Operations
Addressing Operational Challenges and Moving Closer to our
target of Net-Zero Emissions
Tirupati Graphite plc (TGR.L, TGRHF.OTCQX), the specialist
graphite and graphene company developing sustainable new age
materials, is pleased to provide an update on its Madagascar
operations. The Company is addressing operational challenges while
also moving closer to its target for net zero emissions.
Infrastructure and Capacity Development to 30ktpa
The Company is on track to increase its primary flake graphite
production capacity in Madagascar to 30ktpa by September 2022 which
will make it one of the few significant producers of the critical
mineral outside China.
As announced on 22 June 2022, the Company faced challenges
achieving production targets in the first half of the year due to
constrained weather conditions causing difficulties in
transportation of mined ore to the processing plant. To address
these challenges and mitigate against future issues, the Company is
implementing the following measures:
-- A c. 5km road improvement programme covering identified
failure points has been developed, reduced from the previously
estimated 50km programme; and
-- Reducing transportation requirements via the setup of
pre-concentrate units at pit heads, followed by final processing in
the plant area to reduce heavy load on the road network.
Pre-Concentrate Unit Plan update
-- The Company is dividing its processing flow sheet into two
parts, shifting the first leg of processing, which removes 80-90%
of impurities from the ore, to the mine pit heads thus referred to
as the 'pre-concentrate' units.
-- The 'pre-concentrate' will be pumped to the main plant for
the final leg of purification, upgrading it into a finished product
with up to 96% purity.
-- The pre-concentrate units have been designed as 'plug and
play' type facilities which can be shifted from one pit head to
another.
-- At Vatomina, the pre-concentrate unit is under development
and is expected to be completed by the end of July 2022, which will
help Tirupati achieve the target production rate. This development
will use machinery and equipment already available on site.
-- The build-up of pre-concentrate plants at Sahamamy has been
initiated and remains on track for September completion.
This will eliminate the movement of ore from pit head to
processing plant by road and insulate the operations from weather
related challenges while also significantly reducing the emissions
from the mining fleet.
Furthermore, the reduced transportation requirement will also
reduce emissions from operations, supporting Tirupati's target to
reach net-zero in both processing and mining. This is in line with
the Company's aim to become the first net-zero emissions and
zero-waste producer of flake graphite.
The mining fleet can be deployed more productively to extract
higher quantities of ore, increasing the mining capacity.
Sahamamy Hydropower Plant
The commissioning of the first hydropower plant is ongoing, in
line with the target of July 2022. The Company expects to reduce
its carbon emissions significantly once the commissioning is
completed.
Shishir Poddar, Executive Chairman, said:
"We are constantly innovating to overcome challenges and look to
use this as an opportunity to improve our operations. An added
benefit is that the solutions we have worked through in recent
weeks will also help us reduce our emissions and move us closer to
our net zero targets, as set out in our maiden ESG report released
last year. These solutions will also help reduce the investment
pressure on substantial infrastructure build. We will continue to
work find solutions and improvements as we look to build Tirupati
into a leader in the flake graphite space."
ENDS
For further information, please visit
https://www.tirupatigraphite.co.uk/ or contact:
Tirupati Graphite Plc
Puruvi Poddar - Chief of Corporate & Business admin@tirupatigraphite.co.uk
Development +44 (0) 20 39849894
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 / Kelly Smith tirupati@fticonsulting.com
About Tirupati Graphite
Tirupati Graphite Plc is a specialist graphite and graphene
company. The Company places a special emphasis on "green"
applications, including renewable energy and energy efficiency,
energy storage and thermal management 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.
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END
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