Total Graphite Launches Operational Upgrade at Vatomina Mine, Targets 1,000+ Tons Monthly Restart by December 2026

Total Graphite PLC (LSE:TGR, OTCQX:TGRHF) has temporarily suspended production at its Vatomina graphite mine in Madagascar to complete drilling and operational improvements, aiming to restart output above 1,000 tonnes per month by December 2026. The initiative follows an independent technical review that identified additional requirements across geology, mine planning, infrastructure, and plant optimisation. Five diamond drill holes have been completed, with the program expected to continue through the fourth quarter.

■The company reported US$1.5 million in unrestricted cash and US$3.8 million in total cash as of July 16, including a US$2.3 million bank guarantee supporting its Mozambique mining projects.

■Chairman Christian Dennis emphasized that completing the optimisation work before restarting production would establish a "more robust foundation for future operations," aligning with investor expectations for sustainable growth.

■Concurrently, Total Graphite is updating the definitive feasibility study for an initial 50,000-tonne-per-year operation at Montepuez in Mozambique. Data rooms have been opened to interested parties, and the company has received multiple non-binding funding and strategic proposals.

Captain Rıza Deniz: This operational overhaul could ripple through global graphite supply chains, particularly as demand surges for EV battery materials. The temporary shutdown at Vatomina may intensify short-term supply pressures, while the Montepuez project in Mozambique positions itself as a strategic node for Asian investors. With limited liquidity, the company’s trajectory hinges on securing partnerships or funding announcements to bridge the gap between current reserves and long-term operational goals.