Mozambique: Activities still suspended at Pebane heavy sands- report
Tirupati Graphite moves closer to acquiring Montepuez and Balama Central projects
8:13 CAT | 01 Oct 2021
in file CoM
- “We are delighted that Battery Minerals’ shareholders have given their approval, which passes the first of the two major milestones to completing the acquisition of these advanced-stage projects.”
Tirupati Graphite PLC (LSE:TGR, FRA:0WL) has moved closer to acquiring the Mozambique assets of ASX-listed Battery Minerals Ltd.
Battery Minerals shareholders voted to approve the proposed deal at a general meeting earlier today.
It means that Tirupati can now move to obtain requisite in-country approvals to acquire the Suni Resources SA vehicle which holds the Montepuez and Balama Central graphite projects – the former is in construction and the latter is at an advanced stage of the feasibility study process.
“We are delighted that Battery Minerals’ shareholders have given their approval, which passes the first of the two major milestones to completing the acquisition of these advanced-stage projects,” said chief executive Shishir Poddar.
“The acquisition will be helpful in our endeavours to be a material player in the high growth EV and battery markets as the two projects have substantial reserves and resources, provide us diversity of risks, and expand our production profile given the nature of the deposits and the graphite product output.
“We look forward to updating the market further on progress with the in-country formalities to complete the acquisition.”
Source: Proactive Investors
Show comments
Also read
Leave a Reply
Be the First to Comment!
You must be logged in to post a comment.
You must be logged in to post a comment.