Total Graphite (LSE:TGR) has initiated a portfolio optimisation review after completing a significant operational turnaround at its Madagascar business and increasing production capacity at the Vatomina graphite project from 12,000 tonnes to 18,000 tonnes per year.
The review will examine a range of strategic alternatives aimed at accelerating the development of the company’s larger graphite assets in Mozambique and its downstream processing ambitions. Options under consideration include new funding arrangements, strategic partnerships, joint ventures, partial disposals and potential asset sales. Management noted that it has already received an initial expression of interest relating to certain assets within the portfolio.
As part of its growth plans, Total Graphite is updating feasibility studies for the Montepuez and Balama Central projects in Mozambique, together with its proposed anode materials facility in the United States. The work is intended to reflect current market conditions, technology developments and pricing assumptions while supporting the long-term advancement of the company’s approximately 150-million-tonne graphite resource base.
The company has also announced changes to its board structure to strengthen execution capabilities. Chief Financial Officer Thomas Hill has been appointed finance director, while Andrew Wright joins the board as a non-executive director. Christian Dennis has been named interim non-executive chairman following the departures of Mark Rollins and Michael Lynch-Bell.
More about Total Graphite plc
Total Graphite plc is a flake graphite producer and developer focused on building an integrated mine-to-materials supply chain to support energy transition industries worldwide. Its portfolio includes operating and development-stage graphite assets in Madagascar and Mozambique, as well as planned downstream processing facilities and battery anode material projects designed to serve higher-value graphite markets.
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