The
information communicated within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014 which is part of UK law by virtue of
the European Union (Withdrawal) Act 2018. Upon the publication of
this announcement, this information is considered to be in the
public domain.
11 February 2025
Tirupati Graphite
plc
('Tirupati', or the 'Company'
and together with its subsidiaries, the "Group")
Director
Resignation
Tirupati Graphite plc (TGR.L), the
specialist flake graphite company and producer of this critical
mineral for the global energy transition, announces Mr Murat Erden
has resigned from his role as Non-Executive Director with immediate
effect in order to take up an external executive
position.
Mark
Rollins, Executive Chairman of Tirupati Graphite
commented:
"I
would like to thank Murat for his role in supporting the
restructuring of the company's Board and repositioning of the
Company for a strong recovery and future growth. We wish him well
in his new role."
ENDS
For further information, please
visit https://www.tirupatigraphite.co.uk/ or
contact:
|
Tirupati Graphite Plc
Mark Rollins - Executive
Chairman
Alastair Bath - Investor
Relations
|
info@tirupati.co.uk
IR@tirupati.co.uk
+44 7356 057 265
|
|
CMC
Markets UK Plc (Broker)
Douglas Crippen
|
+44 (0)20 3003 8632
|
|
FTI
Consulting (Financial PR)
Ben Brewerton / Nick Hennis / Lucy
Wigney
|
+44 (0) 20 3727 1000
tirupati@fticonsulting.com
|
About Tirupati Graphite Plc
Tirupati Graphite is a specialist
Graphite producer and a supplier of the critical mineral for a
decarbonised economy and the energy transition, with leading low
development capital and operating costs. The Company places a
special emphasis on green applications including renewable energy,
e-mobility, energy storage and thermal management, and is committed
to ensuring its operations are sustainable.
The Group's operations include
primary mining and processing in Madagascar where the Group
operates two key projects, Sahamamy and Vatomina with a
combined installed final production nameplate capacity of
30,000tpa, subject to minor capex additions. The Madagascar
operations produce high-quality flake graphite concentrate with up
to 97% purity and selling to customers globally.
The Group also holds two advanced
stage, world class, natural graphite projects in Mozambique. Work
has already commenced to optimise the economics for development of
the Montepuez graphite project, which is permitted for 100,000tpa
production and where substantial construction work has already been
undertaken by the predecessor. A table of the Group's projects is
provided below:
|
Country
|
Project
|
Stage
|
|
Madagascar
|
Sahamamy
|
Production paused: 18,000tpa
nameplate capacity
|
|
Madagascar
|
Vatomina
|
In Production: 12,000tpa nameplate
capacity
|
|
Mozambique
|
Montepuez
|
100,000tpa permitted,
construction-initiated Currently in Force Majeure
|
|
Mozambique
|
Balama Central
|
58,000tpa permitted,
development-ready Currently in Force Majeure
|
