TIDMTGR
RNS Number : 9369V
Tirupati Graphite PLC
15 August 2022
15 August 2022
Tirupati Graphite plc
('Tirupati', 'TG' or the 'Company')
Vatomina Preconcentrate and Road Infrastructure Rebuilding
Update
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 a progress update on three
important workstreams. First, on the installation and commissioning
of the Vatomina preconcentrate plant, secondly, on the progress
to-date with regards to the rebuilding of the road infrastructure
to streamline operations for the installed 12,000 tons per annum
capacity, and thirdly, a progress update on the construction phase
of the upcoming 18,000 additional capacity in Sahamamy.
Vatomina Preconcentrate Installed and Plant Recommissioned
-- The Company decided to divide its processing flow sheet into
two parts (see RNS of 21 July 2022), shifting the first leg of
processing, which removes 80-90% of impurities from the ore, to the
mine pit heads referred to as the 'pre-concentrate' units.
-- The construction and relocation of the first leg of
Vatomina's 9,000 ton per annum plant was initiated in mid July
2022. This has now been completed and the preconcentrate and final
concentrate plant recommissioned and synchronised in operation.
-- As a result, the previous requirement for the transport of
c.250,000 tons of ore per annum to the plant has been replaced by
the pumping of c.30,000 tons per annum of 'pre concentrate' in
slurry form to the main processing plant, eliminating reliance on
roads and ore transport vehicles.
-- The elimination of the transportation of ore and the
transformation to the preconcentrate concept is expected to result
in:
o a reduction of c.75,000 litres of diesel annually for the
9,000 tons Vatomina plant;
o a reduction in other costs related to the operation of the ore
transport fleet estimated to be equivalent to the cost of diesel
consumption saved;
o elimination of the necessity for building a high-cost metalled
road from the mine areas to the main processing plant; and
o the possibility to enhance capacity of the Vatomina current
facility to 18,000 tons per annum by installation of a second
preconcentrate plant with limited additions in the mining fleet and
main processing plant, which the Company is currently
assessing.
Sahamamy 18,000 tons per annum facilities and road rebuilding
update
-- The construction of both pre-concentrate and main processing
plants at Sahamamy continues to progress and remain on track for
September 2022 completion.
-- The 18,000 tons per annum plant is designed substantially
using the scaled up equipment installed at Vatomina, and the
Company remains confident that with the extensive ramp up
activities and related modifications made over the past few
quarters, these have provided enough inputs for the Company to ramp
up the Sahamamy plant in more or less one quarter. This leads the
management team to believe that from 2023 the Company will be well
placed to operate at an estimated minimum 80% of installed capacity
of 30,000 tons per annum.
-- Over the past three weeks, the Company used its mining and
earthmoving fleet to rebuild all the road network and has reached
the stage that all road connectivity is now operational and steps
are being taken to strengthening the c. 5 km weak points, which
should help to counteract the effect of rain when the next wet
season commences in January 2023.
The Company currently remains focussed on streamlining its
operations and to complete the next 18,000 tons per annum
facilities. Further guidance will be announced as soon as
practicable.
Shishir Poddar, Executive Chairman, said:
"We are pleased to have substantially overcome the difficulties
we faced in operations over the past few quarters. We have used the
time as a learning period to better prepare ourselves for the
future.
With the Vatomina operations coming back online and mobility
restored across the two projects, we are well placed to push
forward our progress and transform further as we plug in the
additional capacity upcoming in Sahamamy."
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.
The Company has an acquisition agreement, subject to regulatory
approvals, with Tirupati Speciality Graphite Private Limited
('TSG'). TSG operates and is developing a suite of speciality
graphite for use in hi-tech applications like lithium-ion
batteries, fire retardants, thermal management, and composites. It
also operates a technology centre developing advanced materials
including graphene and its applications, and mineral processing
technology on commercial basis. The Company is working on various
possibilities in this respect as announced by RNS on 11 July
2022.
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END
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