British graphite producer Tirupati Graphite, which operates in Mozambique and Madagascar, reported on Friday, 20 October that it achieved positive results in the first six months of this year, highlighting the improved performance of its projects.
In an activity report published by the Mozambican Information Agency (AIM), the company revealed that production increased from 1,731 tonnes in the first half of 2022 to 4,588 tonnes in 2023, with revenue standing at 3.1 million pounds sterling (the equivalent of 3.7 million dollars).
According to Tirupati’s CEO, Shishir Poddar, the positive results are a reflection of the work carried out on the projects, despite some working capital constraints.
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.