Join our daily newsletter At The Bell to receive exclusive market insights
- Triton Minerals (TON) appoints a Mozambique-based engineering firm to help develop two graphite flake projects in the region
- Triton and the company, SDS, have been working together since July
- SDS will particularly provide legal advice where it relates to making sure all compliance activities harmonise with Mozambican law
- The company will also be tasked with typical engineering and construction work
- Management expects the next 18 months to be pivotal for the company’s track to producer
- Shares last traded at 2.1 cents
Triton Minerals (TON) has executed a project management agreement with Solucoes De Desenvolvimento Sustentavel (SDS, translated as Sustainable Development Solutions) to accelerate the progress of its Ancuabe and Cobra Plains projects in Mozambique.
SDS will assist Triton with stakeholder engagement, strategic advice, management advice, assistance with compliance activities, and project development broadly.
The company offers diversified engineering and construction solutions and also specialises in water sanitation. SDS will specifically review legal documents to ensure they harmonise with Mozambican law.
While the agreement was signed in late September, SDS has actually been assisting Triton since July, the company announced today.
In total, the contract amounts to US$1 million (A$1.56 million).
Cobra Plains was awarded a multi-decade mining right by the country’s Minister of Energy and Resources in August. Plains boasts an inferred resource of 5.7 million tonnes of graphitic carbon.
The Ancuabe project, meanwhile, boasts an ore resource of 46 million tonnes at 6.6 per cent total graphitic carbon, underpinned by a definitive feasibility study (DFS). Triton intends to produce graphite concentrates from Ancuabe for sale in global markets.
“The next 18 months are expected to be pivotal in Triton’s journey to becoming a graphite producer and we are excited to have SDS assist us as we work tirelessly to create value for our shareholders,” TON Executive Director Andrew Frazer said.
“We have been extremely impressed with SDS’s experience and strong networks within Mozambique. SDS have experience with various resource and infrastructure projects which we believe will greatly assist Triton as we continue to progress development of our world-class graphite projects.”
Triton shares last traded at 2.1 cents.
