Business
Mining Licence Granted for New Acquisition Project
Mining Licence Granted for New Acquisition Project.
About this update from Total Graphite Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 8439R\n Tirupati Graphite PLC\n 10 November 2021\n \n \n \n \n This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 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.\n \n \n \n \n \n 10 November 2021\n \n \n Tirupati Graphite plc ('Tirupati' or the 'Company')\n \n \n \n \n \n Mining Licence Granted for New Acquisition Project\n \n \n \n \n \n Tirupati Graphite plc, the fully integrated, revenue generating, specialist graphite producer and graphene and advanced materials developer, is pleased to note the announcement released by\n ASX listed Battery Minerals Limited ('Battery Minerals') regarding the granting of the Mining Licence for the Balama Central Graphite Project for production of 50,000tpa of graphite concentrate. \n \n \n \n \n Tirupati has agreed to acquire the entire issued share capital of Suni Resources SA from Battery Minerals (subject to certain conditions to closing being satisfied), which holds the construction initiated Montepuez Graphite Project and the advanced feasibility study stage Balama Central Graphite Project (see announcements dated 17 August 2021 and 30 September 2021). \n \n \n \n Shishir Poddar, CEO of Tirupati Graphite, said, \n \n \n \"The granting of the Mining Licence for the Balama Central Graphite Project is great news, which further enhances the value proposition of the acquisition for Tirupati. Both the Montepuez and Balama Central projects now hold granted mining licenses which, on completion of the acquisition, advances Tirupati on its journey to becoming a material supplier to the high growth EV and battery markets and playing a part in the global energy transition. We also take this news as a positive indicator that Mozambique is starting to open back up for business following the pandemic, along with the rest of the world. We look forward to completing the acquisition over the coming months.\" \n \n \n \n \n \n \n The announcement by Battery Minerals is set out below without material changes:\n \n \n \n \n \n Balama Central Project Mining Licence Granted\n \n \n Highlights\n \n \n · The Mozambican Govern...