TIDMTGR
RNS Number : 4214H
Tirupati Graphite PLC
24 November 2022
24 November 2022
Tirupati Graphite plc
('Tirupati', 'TG' or the 'Company')
Operations and Development Update
Tirupati Graphite plc (TGR.L, TGRHF.OTCQX), the specialist
graphite and graphene company developing sustainable new age
materials, is pleased to provide an update in continuation to its
announcement released on 22 September 2022 on the ongoing
developments and operations of the Sahamamy and Vatomina projects
in Madagascar.
Vatomina operations and development
-- The Vatomina preconcentrate plant continues to operate
uninterrupted following its reorganisation and the Company is
pleased to advise that:
o Both the preconcentrate and final concentrate plants continue
to operate over the name plate ore feed capacity of 600 tons per
day completely synchronised with smooth and constant operation;
o The construction and installation of the second preconcentrate
plant at Vatomina is now complete, with trial runs and integration
to the existing operations in process;
o With reduction in ore movement activities, the current heavy
earthmoving mining machinery ('HEMM') fleet has completed the
development of other infrastructure and nascent mining areas, which
meet the ore feed requirements of the second preconcentrate plant;
and
o Strengthening of internal roads and other infrastructure
developments at Vatomina are now complete and well prepared to
mitigate the risks from adverse weather conditions in the
future.
-- The Company does not foresee any challenges in stabilising
Vatomina operations at above 1,200 tons ore feed per day with
effect from December 2022; stabilising operations at 12,000 tpa
output as planned.
Sahamamy operations and development
-- The operations and development of Sahamamy has continued at
full pace and the Company is pleased to advise that:
o The new road connecting Sahamamy project to National Highway 2
and Vatomina project has been strengthened throughout the nearly 40
kilometres of road, with the last few kilometres currently under
completion;
o The existing 3,000 tpa plant at Sahamamy remained in operation
and shall be decommissioned in December following the stabilisation
of the second preconcentrate operations in Vatomina;
o Extensive mine development has been executed in the nascent
Sahasoa deposits of the Sahamamy project and is ready to provide
the required 1,200 tons per day of ore for the new plants;
o Construction and installation of both pre-concentrate plants
in Sahamamy are now complete with tests and trial runs
initiated;
o Construction and installations at the main processing plant is
substantially complete at Sahamamy;
o We remain on target to stabilise operations of the 18,000 tpa
plant by end of the current quarter;
o The first power generation from the 100Kw hydro power plant
('HPP') has been achieved during November with integration and
commercial use underway with related cost savings expected to
commence from December;
o To progress the next HPP of 400 Kw, related studies and
application for required approvals have been initiated.
Shishir Poddar, Executive Chairman, said:
"We have come a long way in a short time and have effectively
brought under control the impacts of the adverse conditions
experienced in Madagascar earlier this year. Our innovative and
cost-effective solutions have started to bear fruit. Market
conditions for graphite are very positive, and this is the ideal
time for us to be increasing production of this critical
material.
"With the turnaround of the Madagascan projects now complete, we
are again progressing towards our aim of providing approximately 8%
of global flake graphite demand."
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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