Tirupati Graphite plc has announced a strategy to achieve a production capacity of 400,000 tons per annum (tpa) of flake graphite (natural graphite), aiming to capture 8% of the forecast global demand by the end of the decade. The company plans to raise up to €3.6 million in the near term for streamlining operations in Madagascar, followed by an additional €95 million in project finance for expanding its Madagascan and Mozambican projects. The total investment required to reach the tpa target is estimated at €432 million, which includes both fixed and working capital.
Since 2021, Tirupati has been developing its Madagascan projects, which currently produce 36,000 tpa. The Mozambican projects are set to commence with an initial 50,000 tpa module in 2026, with a long-term plan to increase production through additional modules, culminating in a combined capacity of 404,000 tpa by 2030.
The company aims to provide high-quality graphite, with Madagascar focusing on larger flake sizes and Mozambique on smaller flakes suitable for battery anodes. Tirupati’s highlights its independence from Chinese technologies as a competitive edge.
This expansion is motivated as global demand for graphite is projected to surge, potentially leading to a supply deficit by the end of the year.
Key Numbers:
- Target production capacity: 400,000 tpa
- Near-term financing goal: €3.6 million
- Project finance target: €95 million
- Total investment required: €432 million
- Current production in Madagascar: 36,000 tpa
- Projected production in Mozambique by 2030: 350,000 tpa
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