Tirupati Graphite PLC, a London-based flake graphite supplier with projects in Madagascar and Mozambique, has announced the commencement of full-scale mining operations at its Vatomina project in Madagascar. The company began these operations on July 28, 2024, with steady-state production starting from August 6, 2024.
In a recent statement, Tirupati Graphite outlined the progress at Vatomina. Mining operations officially kicked off on July 28, following the successful delivery of essential fuel and supplies by July 27. Processing operations began on August 2, 2024, after sufficient feedstock was prepared at the ore pads of the two pre-concentrate units. Minor operational issues were resolved between August 2 and 5, resulting in the production of 59 tons of flake graphite with a grade exceeding 96% and meeting the target head grade of 3%.
Since August 6, 2024, Tirupati Graphite has maintained steady-state production 24/7, with a weekly production rate of 165 tons of high-grade graphite, which equates to an annual rate of approximately 8,000 tons, or around 97% of capacity. The current head grade remains around 3%.
The company has already shipped 140 tons of graphite, with an additional 240 tons prepared for dispatch. The production target for August is set at 600 tons.
To support the operation’s ramp-up, three directors have agreed to provide a loan of £230,000.
Shishir Poddar, CEO of Tirupati Graphite, expressed satisfaction with the progress: “We are pleased to announce that full-scale mining operations have commenced at Vatomina. Our focus on producing higher-grade flake graphite ensures optimal price realization and has allowed us to reduce overall costs while achieving an annual production run rate of 8,000 tons.”
Poddar also noted the company’s ongoing efforts to address immediate and long-term capital needs. Meanwhile, shares of Tirupati Graphite have been suspended as the company finalizes its accounts. The CEO added, “We are working with our auditors to complete our Annual Report, so our shares can resume trading soon.”
