(Ecofin Agency) - Tirupati Graphite targets an output of 200,000 tonnes of graphite per year in Madagascar a few years from now. Though the company is very far from this number at the moment, it has been ramping up efforts to achieve its ambition.

The two graphite Malagasy projects of Tirupati Graphite–Vatomina and Sahamamy–could soon see a "significant increase" in mineral resources. Shishir Poddar, the firm’s Executive Chairman, made the statement in an operational update released on March 11, 2024.

Having just completed an extensive drilling program (including diamond and auger drilling) at the sites of both projects, the company indicated that an analysis of the results for an independent assessment of mineral resources is underway by SRK Consulting.

"We are extremely pleased with the comprehensive exploration activities carried out by our team in parallel with development and operations. We expect the updated CPR [mentioned evaluation, Ed.] to show a significant increase in our resources, highlighting the long-term potential of our ongoing projects in Madagascar," said Shishir Poddar.

Two months ago, Tirupati Graphite announced it wanted to boost its graphite output in Madagascar by maximizing the operational capacity of its assets to reach annual volumes of 36,000 tonnes. While the firm’s Malagasy assets (Vatomina and Sahamamy) currently have a production capacity of 30,000 tonnes/year, it eyes an annual production of 200,000 tonnes in the country within a few years.

Louis-Nino Kansoun