Tirupati Graphite plc (LON:TGR), the specialist flake graphite company and producer of this critical mineral for the global energy transition, has announced an update on its operations, current fundraising activities and financial condition, and outlook, following the re-structured Board and executive team’s initial strategic assessments and site visit.
Operations Update
The Group re-started mining and processing operations from its Vatomina project in Madagascar on 1st February 2025. Production will initially be through two pre-concentration units (PCUs) and is expected to stabilise at a daily rate of around 20-25 MT per day for February. The Group intends to install two additional PCUs during 2025. The mine had been idle since 12 December 2024 and had limited and intermittent operations throughout 2024, due mainly to liquidity problems affecting operations. with around 2,000 MT of flake graphite produced throughout the calendar year 2024 according to production records.
During a site visit by CEO, James Nieuwenhuys, in January 2025, meetings were held with key suppliers of goods and services and with key employees to review what steps were necessary to achieve stable production, expand capacity and better develop the mine, as well as improve ESG and safety aspects of the Group’s operations.
