8th Sep 2022 13:18
Tirupati Graphite PLC - graphite and graphene mining and processing in Madagascar - Says subsidiary Tirupati Madagascar Ventures SARL agrees to buy three additional mining permits in Madagascar, covering a total area of 31.3 square kilometres near the company's existing projects in the East African country. Pays GBP167,000 in cash. Tirupati says historical geographical data and initial ground assessments suggest the new permits could have the potential to add up to two or three 18,000 tonnes per year facilities for flake graphite production.
Executive Chair Shishir Poddar says: "It is our priority to increase ground in Madagascar alongside other locations to preserve our long-term capacity targets and resource security, and these acquisitions can help us enhance our overall output from Madagascar by up to an additional 48,000 [tonnes per acre] in due course."
Current stock price: 45.23 pence, up 13%
12-month change: down 59%
By Xindi Wei; [email protected]
Copyright 2022 Alliance News Limited. All Rights Reserved.
Related Shares:
Tirupati Graphite