Tirupati subsidiary to acquire additional permits in Madagascar
Friday, September 9th, 2022
Specialist graphite and graphene company Tirupati Graphite’s subsidiary Tirupati Madagascar Ventures has entered into an agreement to acquire three additional mining permits in Madagascar for about £167 000.
The transfer of the permits, which cover an area of 31.25 km2 and are located in the vicinity of the company’s existing Vatomina and Sahamamy projects, is subject to approval by the Ministry of Mineral Resources.
As a result of the proximity to its existing operations, Tirupati believes it can progress activities in the acquired projects in a timely and cost-effective manner alongside its other Madagascan projects.
While no Joint Ore Reserves Committee-compliant mineral resource statement is available for the permits, historical geological data and initial ground assessments made by the company suggest that the new permits could have the potential to add two or three 18 000 t/y modular facilities for flake graphite production.
This could therefore significantly add to Tirupati’s currently planned 84 000 t/y capacity across the Vatomina and Sahamamy projects.
“We are pleased to have agreed to acquire additional permits near our existing projects in Madagascar.
“It is our priority to increase ground in Madagascar, alongside other locations, to preserve our long-term capacity targets and resource security, and these acquisitions can help us enhance our overall output from Madagascar by up to an additional 48 000 t/y in due course,” says Tirupati chairperson Shishir Poddar.
He adds that acquisitions like these will be instrumental in enabling the company to achieve its aspiration of becoming one of the most significant players in the graphite market as global demand increases.