In recent years, graphite has moved from a niche industrial mineral to a linchpin of emerging power games in both the energy transition and national security.
On one front, the electrification of transport and expansion of battery storage are driving unprecedented demand for graphite. Because graphite is used as the anode material in lithium-ion cells, it constitutes a large share of battery mass compared with lithium or cobalt. As electric vehicle adoption accelerates and grid storage scales, demand for high-purity, battery-grade graphite is projected to grow multiples-fold over the coming decade.
On the other front, graphite’s unique physical properties, thermal stability, chemical inertness, machinability, and conductivity, make it valuable in aerospace, missile systems, electronic warfare, and other defence applications. Modern combat platforms increasingly rely on composites, high-performance electronics, and thermal management systems, all of which can incorporate graphite-based components. As governments globally increase military spending or recalibrate strategic supply chains, securing reliable access to graphite becomes a critical dual-use objective.
Tirupati Graphite PLC (LON:TGR) is a fully integrated specialist graphite and graphene producer, with operations in Madagascar and Mozambique. The Company is delivering on this strategy by being fully integrated from mine to graphene. Its global multi-location operations include primary mining and processing in Madagascar, hi-tech graphite processing in India to produce specialty graphite, and a state-of-art graphene and technology R&D center to be established in India.
