Tirupati Graphite PLC (LSE:TGR) (LSE:TGR) Shishir Poddar, chief executive, joins Proactive London's Katie Pilbeam to explain why they have agreed to buy strategic graphite projects in Mozambique from ASX-listed Battery Minerals Ltd for A$12.5mln (£6.6mln) in a cash and shares deal.
Poddar says this deal will 'complement Madagascar' because they 'mix' and will 'mitigate our country risk' as well as the fact these are already 'advanced projects'.
Tirupati will acquire Suni Resources SA, the holder of the Mozambique portfolio of graphite assets of Battery Minerals including two world-class graphite projects: Montepuez and Balama Central.
He says, 'we need to growth in size because we want to be a global leader and we have every ingredient'.