Tirupati Graphite PLC has been granted mining licence by government of Mozambique for the Balama Central graphite project.
The licence will enable production of 50,000 tonnes per year of graphite concentrate. Tirupati is in the process of acquiring Balama Central, and the Montepuez graphite project, from ASX-listed Battery Minerals Ltd.
“The granting of the mining licence for the Balama Central graphite project is great news, which further enhances the value proposition of the acquisition for Tirupati. Both the Montepuez and Balama Central projects now hold granted mining licenses which, on completion of the acquisition, advances Tirupati on its journey to becoming a material supplier to the high growth EV and battery markets and playing a part in the global energy transition,” said Shishir Poddar, chief executive of Tirupati.
“We also take this news as a positive indicator that Mozambique is starting to open back up for business following the pandemic, along with the rest of the world. We look forward to completing the acquisition over the coming months,” he added.
Tirupati Graphite PLC is a fully integrated specialist graphite and graphene producer, with operations in Madagascar and India. It was incorporated in London, on 26 April 2017 as a public company by the promoters of Tirupati Carbons & Chemicals (P) Ltd., India (TCCPL) and Optiva Securities Ltd., London, with a vision of developing a world-leading benchmark flake graphite company.
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.
With strong market demand, graphite and graphene are critical sustainable materials as a result of their extensive and unique properties and applications. In support of this, the company places a special emphasis on “green” applications, including renewable energy generation, energy storage and composites, and is committed to ensuring its operations and products are as sustainable as possible.