London “green” mining specialist acquires Mozambique project

London headquartered graphite specialist Tirupati Graphite PLC announced the granting of the Mining Licence for the Balama Central Graphite Project for production of 50,000tpa of graphite concentrate.

Tirupati Graphite is a revenue-generating, multi-asset, multi-jurisdictional, fully integrated producer and developer of high-grade natural flake graphite, speciality graphite and graphene and graphene enhanced advanced materials.

The company places a special emphasis on “green” applications, including renewable energy and energy efficiency, energy storage, thermal management, and advanced materials development, and is committed to ensuring its operations are sustainable as well.

Tirupati has agreed to acquire the entire issued share capital of Suni Resources SA from Battery Minerals, which holds the construction initiated Montepuez Graphite Project and the advanced feasibility study stage Balama Central Graphite Project.

Shishir Poddar, CEO of Tirupati Graphite, said, “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.

“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.”

Want your business, product or service to be seen regionally and nationally? Bdaily helps you get your story in front of the right audience, every day. Find out how Bdaily can help →

Join more than 55,000 subscribers by signing up to our daily bulletin each morning here.