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LONDON - Tirupati Graphite plc (LSE:TGR) reported that its Madagascar operations at Vatomina produced 221 metric tons of sellable graphite in July 2025, falling short of its targeted monthly production rate of 1,000 metric tons due to unseasonal rainfall and equipment issues.
The company, which supplies flake graphite for the global energy transition, lost 17 days of mining operations in July due to significant weather disruptions. Total production since operations restarted in February 2025 stands at 2,285 metric tons.
Tirupati successfully completed commissioning of the fourth processing unit (PCU) at its BK6 mine site on July 31, but production was hampered by several factors including delayed installation of a larger dryer, insufficient ore mining, inadequate slurry feed to the final processing plant, and unavailability of spare parts.
The company has implemented remedial measures including the installation of a larger dryer expected to be completed by August 18, which should increase drying capacity to 4.5 tons per hour. A new excavator with 60% higher capacity than current equipment will be available from August 16, expanding the fleet to five units.
Additional improvements include comprehensive re-supply of spare parts and equipment upgrades scheduled to arrive by mid-September, with completion expected in October. The company also plans to maintain a one-month stockpile of run-of-mine ore to mitigate future weather disruptions.
Despite the setbacks, Tirupati maintains its guidance of reaching 1,500 metric tons per month production by December 2025, though it now expects to achieve the 1,000 metric tons monthly rate in October rather than July as previously planned.
Executive Chairman Mark Rollins acknowledged the disappointing production delays and noted the company is evaluating options to secure additional funding due to cash flow impacts, according to the press release statement.
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