Tirupati acquired the entire issued share capital of Suni Resources SA, holding the Montepuez and Balama Central graphite projects, from Battery Minerals Limited (ASX:BAT), in 2023.

Across a combined 18,500ha permit area,  JORC resource estimates for the combined two complementary graphite deposits contain mineral resources  >152 million tons at 8.5% total graphite content (TGC), hosting >12 million tons of contained graphite; this increased Tirupati’s JORC group resources by a factor of 12.

The Montepuez and Balama Central project are fully permitted for 158,000 tons per annum of Natural Flake Graphite production.

Montepuez

• Permitted for 100,000tpa of Natural Flake Graphite production; Montepuez also contains an additional Vanadium credit.
• The Montepuez project is targeted for development of an initial 100,000tpa graphite concentrate production capacity operations, developed across two 50,000tpa stages. 
• The project contains mineral resources of 119.6 million tonnes (Mt) at 8.1% TGC and ore reserves of 42.2 million metric tonnes at 9.27% TGC.
• A Definitive Feasibility Study was completed for the project in 2017.
• Work on land clearance has been started, a Tailing Storage Facility significantly advanced, and the establishment of a 100-person base camp completed.

Balama Central

• Fully permitted for 58,000tpa of Natural Flake Graphite production.
• Located approximately 260km east of Pemba, the Balama Central project holds graphite mineral resources of 32.9Mt at a grade of 10.2% TGC.