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Total Graphite Plans $42.3M Investment in Montepuez Graphite Mine
According to information released by the company, the Montepuez project is licensed to produce up to 100,000 tonnes of graphite concentrate per year and holds estimated mineral resources of 110.5 million tonnes, of which approximately 9.1 million tonnes represent contained graphite.
The development plan is structured in two phases. The first targets production capacity of approximately 50,000 tonnes per year, requiring an initial investment of $42.3 million, while the second phase envisions nearly doubling output to around 100,000 tonnes annually. In September, Total Graphite announced the launch of an updated feasibility study for the project, pointing to a mine development decision in 2027.
In parallel, the company intends to use future graphite production from Mozambique to supply an industrial processing chain for the manufacture of higher value-added materials, including high-purity graphite, expandable graphite, and active anode materials for batteries. The strategy also incorporates graphite concentrate from the company's operations in Madagascar, seeking to diversify supply sources and strengthen its capacity to meet growing international demand.
According to an investor release, Total Graphite obtained what it described as encouraging initial results from purification tests on graphite extracted from its Vatomina operation in Madagascar, achieving a purity grade of 99.2% fixed carbon. The company is now targeting a purity level of 99.5%, required for certain more demanding industrial applications. Although the tests are being conducted using feedstock from Madagascar, the company clarifies that the future processing facility could also be supplied from its Mozambique projects.
The location of the processing facility has not yet been determined, with the decision dependent on factors including operating costs, logistics conditions, available incentives, and proximity to end markets. The company expects to complete technical and engineering studies by the end of 2026 or early 2027, setting the stage for a final investment decision on the first graphite processing unit.
Christian Dennis, chairman of Total Graphite, said the test results reinforce confidence in the company's strategy of integrating mining and industrial processing activities. "These results provide greater confidence to pursue the strategy of building a vertically integrated graphite business to capture the significant value-added opportunities available downstream," he said in the company statement.
In addition to Montepuez, Total Graphite holds the Balama Central project, also located in Cabo Delgado province. Together, the two assets hold combined resources of more than 13 million tonnes of contained graphite, forming a significant raw material base for the company's expansion plans.
The investment push comes against a backdrop of rising international demand for minerals considered strategic for the energy transition, particularly those used in the production of electric vehicle batteries and energy storage technologies. The realisation of the projects could strengthen Mozambique's position in the international graphite market and create further investment opportunities in the mining sector. However, the advancement of production at Montepuez remains contingent on the completion of feasibility studies and the final investment decision expected in 2027.
Source: Total Graphite Plans $42.3M Investment in Montepuez Graphite Mine • 360 Mozambique
