Triton cuts costs at Ancuabe pilot plant
PERTH (miningweekly.com) - Graphite developer Triton Minerals has identified $7-million in alternative funding options for the commercial pilot plant (CPP) at its Ancuabe graphite project, in Mozambique.
The company told shareholders that the alternative funding options would result in a 13% to 22% reduction in initial funding requirements for the CPP.
The options under review include the potential use of contractors, service providers, and equipment leasing for crushing, village infrastructure, mobile equipment and light vehicles and power supply.
Triton noted that the alternative funding options were aimed at a 250 000 t/y plant capacity, producing 15 000 t/y to 17 000 t/y of graphite concentrate, as proposed in the CPP desktop study.
Triton executive director Andrew Frazer said that the alternative options would positively impact discussions with debt providers for the debt portion of the CPP financing, which Triton will continue in the first quarter of this year.
Triton previously estimated that the CPP would require a capital investment of between $32-million and $52-million, which was significantly less than the $99-million estimate for the 60 000 t/y plant considered in the definitive feasibility study (DFS).
Refinement of the CPP desktop study is ongoing, and along with a strategic review into the Ancuabe project, will be completed before the end of this quarter, while a DFS for the CPP and a final investment decision are expected by mid-2022, allowing for first production by the third quarter of 2023.
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