Tirupati Graphite has announced that in response to continued increased demand for its high-quality flake graphite from Madagascar, the company will upscale the capacity of the first module at its Vatomina project.
Capacity will increase by by 50% to a planned production of 9,000 tpa. This will result in an increase to near-term cash flows from operations.
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Shishir Poddar, CEO of Tirupati Graphite, says:
“We are already starting to see the fruits of our continued efforts to become a significant supplier to the rapidly growing global flake graphite market, which is being substantially driven by the growth in green applications including electric vehicles, thermal management and flame retardants.
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“Flake graphite prices, and particularly in the larger flake sizes, have seen an uplift over the past quarter and we have received strong demand from our current and prospective buyers from diverse market segments.
“Our team’s persistent dedication to meet our customers’ expectations galvanised our decision to upscale the capacity of the first production module at Vatomina to 9,000tpa, which will take us to a significant total of 12,000 tpa across our two projects in the near-term, while remaining on track to commission the new production module at Vatomina in Q2 2021.
“The upscaled capacity will boost our near-term cash flow generation which further enhances shareholder value at minimal costs.”