Client NewsTirupati Graphite plc: Upscaling of Vatomina Project’s capacity in response to increased market demand
Tirupati Graphite plc, the fully integrated, revenue generative, specialist graphite producer and graphene developer with operations in Madagascar and India, is pleased to announce that in response to continued increased demand for its high quality flake graphite from Madagascar, the Company will upscale the capacity of the first module at its Vatomina Project (‘Vatomina’) by 50% to a planned production of 9,000 tonnes per annum (‘tpa’), which will result in an increase to near-term cash flows from operations.
· Increased demand from current customers, including a London listed FTSE 250 company recognised as a global benchmark flake graphite user, and interest from new target buyers globally highlight the strong graphite market dynamics
· The Company’s modular development approach using internal expertise provides flexibility to enable the upscaling of Vatomina, while remaining on track for the Project’s planned commissioning in Q2 2021
· Upscaling Vatomina’s first module by 50% from the planned 6,000tpa capacity to 9,000tpa, will be done at an estimated 30% additional CAPEX, bringing the total production capacity in Madagascar to 12,000tpa following commissioning
· Upscaling Vatomina’s capacity will see total earthwork at Tirupati’s projects increase to 800,000tpa from current 200,000tpa.
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