Tirupati Graphite, the fully integrated, revenue generating, specialist graphite producer and graphene and advanced materials developer has noted the announcement released by Battery Minerals regarding the granting of the Mining Licence for the Balama Central Graphite Project for production of 50,000 tpa of graphite concentrate.
Tirupati has agreed to acquire the entire issued share capital of Suni Resources SA from Battery Minerals (subject to certain conditions to closing being satisfied), 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.”