Tirupati Graphite plc (TGR.L)

Tirupati eyes 8% of global graphite market after Mozambique acquisitions

Tirupati Graphite plans to start producing 50,000 metric tons of graphite next year in Mozambique, targeting 8% of global output by 2030, its executive chairman has said. A critical material in the production of batteries used to store energy and power electric vehicles, graphite is mostly mined in China, Mozambique, Madagascar and Brazil. London-listed Tirupati acquired two graphite projects in Mozambique at Montepuez and Balama from Australian exploration firm Battery Minerals Ltd in April.