Triton reviewing earlier start at Ancuabe
PERTH (miningweekly.com) – Graphite hopeful Triton Minerals has launched a strategic review of its Ancuabe graphite project, in Mozambique, with the aim of bringing the project into production in the short term, at a small scale, and on a commercially viable basis.
The strategic review will focus on the potential for scaling the operations considered in the initial definitive feasibility study (DFS), targeting production on a smaller scale, with a commercial pilot plant (CPP).
The CPP can be brought into production in the near term, which will produce commercially viable quantities of concentrate which will prove the viability of both the product and of the large-scale project, at some 60 000 t/y, in the longer term.
As well as providing validation of the process for potential funding partners, product from the CPP will enable Triton to generate further interest from potential offtake partners. The company told shareholders on Thursday that it has made considerable progress with additional potential offtake partners, to establish an offtake position that is covered by a number of buyers, across a number of industries and geographical locations.
“Ancuabe is a significant asset which needs to be brought into production as soon as possible to take advantage of the fact it can service both the battery and flame retardant building materials sectors, which are both experiencing strong demand and robust pricing, and are both growth markets moving forward. The commercial pilot plant is the first step in unlocking shareholder value from the Ancuabe graphite project,” said Triton executive director Andrew Fraser.
A DFS on the Ancuabe project estimated that it would require preproduction capital of $99.4-million to build a mine that is capable of producing about 60 000 t/y of graphite concentrate.
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