PERTH (miningweekly.com) – The Mozambique government has granted ASX-listed Triton Minerals a mining concession for its Ancuabe graphite project, paving the way for project development.
“The board is extremely pleased with receiving final government approval for Ancuabe. Mozambique has a long and proud history of mining and both regional and national government bodies have been extremely supportive during the permitting process, further reinforcing that the country is a premier location for mining investment in East Africa,” said Triton MD Peter Canterbury.
He noted that the granting of a mining concession was a critical element of the financing process, which was progressing well.
A definitive feasibility study 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.
“Triton has now signed binding offtake agreements for approximately 53% of annual production from Ancuabe, has executed an engineering, procurement and construction contract with MCC International, has been granted its mining concession which is the final approval required to commence production at Ancuabe, as well as having signed a project investment, finance and offtake memorandum of understanding (MoU) with Qingdao Jinhui Graphite and various other MoUs for offtake and graphite product marketing,” Canterbury said.