Tirupati Graphite has successfully launched full-scale mining operations at its Vatomina site as of July 28, 2024. The company’s strategic emphasis on extracting higher-grade flake graphite highlights its dedication to enhancing production efficiency and revenue generation. This development signifies a major step forward in Tirupati Graphite’s ambition to become a significant contributor to the global graphite supply chain, especially within the rapidly growing energy transition sector.
Processing activities at Vatomina commenced on August 2, 2024, following the accumulation of sufficient feed stock at the ore pads for the two pre-concentrate units. Although minor issues arose during the initial days of operation, they were promptly addressed between August 2 and 5, 2024. During this period, the facility successfully produced 59 tons of flake graphite with a purity level exceeding 96%, achieving the target head grade of 3%. Since August 6, 2024, the facility has maintained a consistent 24/7 production schedule, resulting in a total output of 165 tons over seven consecutive days.
Operating with a designed capacity for 330 days per year, Vatomina’s current run rate projects an annual production of 7,778 tons, achieving more than 97% of the facility’s rated capacity at a 3% head grade. The company remains focused on producing exclusively higher-grade graphite, with all products manufactured thus far exceeding a 96% grade. Tirupati Graphite is optimistic about reaching its annual production goal of 8,000 tons at Vatomina, assuming smooth operations without financial disruptions. By August 10, 2024, the company had already shipped 140 tons of finished product, with an additional 240 tons in transit, keeping it on track to meet its goal of shipping over 600 tons by the end of August 2024. These shipments are being delivered to customers globally, and the company plans to provide updates on the realised basket price soon.
Shishir Poddar, the CEO and Managing Director, confirmed the successful initiation of full-scale operations at Vatomina, with a focus on high-grade flake graphite to ensure premium pricing. This approach has allowed the company to reduce its overall cost structure while achieving a solid annual production rate of 8,000 tons. By prioritising high-grade material, Vatomina is expected to significantly boost its operating margins, positively impacting the Group’s financial performance.
Simultaneously, Tirupati Graphite is working on reactivating its Sahamamy project while addressing both immediate and long-term capital needs. Poddar also noted that the company is collaborating with auditors to finalise and publish the Annual Report, which is a crucial step towards resuming share trading. He extended his gratitude to shareholders and stakeholders for their continued support during this critical phase of transition and growth.
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.
