Tirupati Graphite (TGRT.L) plans to start producing 50,000 metric tons of graphite next year in Mozambique, targeting 8% of global output by 2030, its executive chairman has said.
A critical material in the production of batteries used to store energy and power electric vehicles, graphite is mostly mined in China, Mozambique, Madagascar and Brazil.
London-listed Tirupati acquired two graphite projects in Mozambique at Montepuez and Balama from Australian exploration firm Battery Minerals Ltd (BAT.AX) in April.
Tirupati Graphite PLC (LON:TGR) is a fully integrated specialist graphite and graphene producer, with operations in Madagascar and India. The Company is delivering on this strategy by being fully integrated from mine to graphene. Its global multi-location operations include primary mining and processing in Madagascar, hi-tech graphite processing in India to produce specialty graphite, and a state-of-art graphene and technology R&D center to be established in India.