Maputo, Sept. 10, 2026 (Lusa) - The Australian company Total Graphite has begun updating the 2017 feasibility study for the Montepuez graphite project in Cabo Delgado, northern Mozambique, which is licensed to produce up to 100,000 tonnes per year, with plans to commence mining in 2027.
In a market announcement, seen on Thursday by Lusa, the company announced that it has engaged the mining consultancy Lycopodium Minerals Africa to review and update the studies for the graphite production project – a mineral used, amongst other applications, in the manufacture of batteries for electric vehicles – incorporating the modular development model defined in a previous strategic review.
According to Total Graphite, the first phase of the work will include the «re-validation of the existing process design and flowchart», the evaluation of alternative processing technologies and an analysis of the engineering work already completed on site.
The results of this initial phase are expected in November 2026, with the company indicating that it intends to move «swiftly to a second phase of updating the study», before seeking funding to recommend the start of construction of the project in 2027.
The mining company emphasises that the Montepuez project is licensed to produce up to 100,000 tonnes of graphite concentrate annually, highlighting that it could provide a new source of flake graphite outside China, in a market driven by the energy transition.
The strategy currently favoured by the company is based on a two-stage development, considered easier to finance than the original plan presented in 2017.
According to the data released, the first phase envisages an annual production of around 50,000 tonnes of concentrate with a graphite carbon content of 96.7%, requiring an estimated initial investment of $42.3 million (around €36 million) and offering a payback period of less than two years.
In a second phase, capacity would be almost doubled to around 100,000 tonnes per year, through an additional investment of $27 million (€23 million), bringing the total investment to approximately $69 million (€59 million).
The company compares these figures with the definitive feasibility study from 2017, which envisaged a single-phase operation of 100,000 tonnes per annum, with an initial investment of $126 million (€107 million) and a payback period of almost five years.
«Although the 2017 estimates will be updated to reflect cost inflation, the board of directors believes that the project's capital efficiency and cost structure remain highly competitive,» the statement notes.
Total Graphite adds that around 60% of the project's detailed engineering has already been completed, and preliminary work on site has also been carried out, including a camp with capacity for 100 people, a mobile crushing plant, power generation systems and support infrastructure.
The Montepuez project has mineral resources estimated at 110.5 million tonnes, with an average grade of 8.2% total graphitic carbon, equivalent to around 9.1 million tonnes of contained graphite.
The company also holds the Balama Central project, also in Cabo Delgado, and states that the two assets together contain more than 13 million tonnes of contained graphite; it is also considering updating the studies for this second project once the review of Montepuez has been completed.
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