Armadale Capital (GB:ACP) has released an update.
Armadale Capital Plc has reported promising prospects for its Mahenge Graphite Project in Tanzania, buoyed by a global surge in graphite demand linked to electric vehicle battery production. With a projected increase in demand and Western economies seeking non-Chinese graphite sources, the company anticipates significant momentum for Mahenge, which boasts high-purity graphite and strong ESG credentials. Amidst ongoing discussions with financiers, Armadale is focused on capitalizing on the growing market need and ensuring long-term shareholder value through the development of this low-cost, high-purity project.
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