Tirupati Graphite plc (LON:TGR, TGRHF.OTCQX), the specialist flake graphite company and supplier of the critical mineral for the global energy transition, has provided the following corporate update.
Since its IPO in December 2020, the Company has developed and commissioned two graphite projects in Madagascar with minimal Capex to establish Tirupati as one of the five largest, non-China graphite companies by production capacity and one of only three publicly listed commercial scale producers. This was achieved despite the challenge of unexpectedly extreme weather in early 2022 which caused material delays and increased costs.
In addition to commissioning the Madagascar projects, the Company has acquired two development stage projects in Mozambique which host higher percentages of finer flake graphite used in lithium ion batteries with the potential to provide the Company with sufficient resources to achieve its long term goal of establishing capacity equivalent to 8% of global demand across its projects in Madagascar and Mozambique in the longer-term, equivalent to circa 400,000tpa per research by various sources which suggest overall global flake graphite demand is to exceed 5,000,000tpa by 2030.
