- Triton Minerals (TON) completes a strategic review and desktop study for its Ancuabe graphite project in Mozambique as it focuses on an initial small-scale development plan
- The company says the study found the project could be brought into production in the short term through a commercial pilot plant (CPP), providing an efficient and cost-effective solution to developing the project
- The strategic review assessed alternatives for bringing the project into production, with the company landing on a two-stage plan
- The first stage will see development and construction of a CPP for a small-scale processing plant and the second stage involves expansion to large-scale operations
- Triton say it is aiming to bring the CPP into production in the next 18 months and will immediately start a scoping study on the proposed initial development
- TON shares up 7.14 per cent to three cents
Triton Minerals (TON) has completed a strategic review and desktop study for its Ancuabe graphite project in Mozambique as it focuses on an initial small-scale development plan.
The company said the desktop study found the project could be brought into production in the near term through a commercial pilot plant (CPP) using a modular build approach, as part of its two-stage development strategy.
Triton said staged development offered the most efficient and cost-effective solution to developing Ancuabe.
The strategic review looked at alternatives for bringing the project into production, with the company landing on the two-stage plan.
The first proposed stage involves development and construction of the CPP as a small-scale processing plant, which would be capable of producing flake graphite concentrate on a commercial basis.
Triton said it was hoping to process between 100,000 and 125,000 tonnes per annum (tpa) of ore and produce 5,000 to 8,000 tpa of graphite concentrate.
It is aiming to bring the CPP into production in the next 18 months and will immediately start a scoping study on the proposed initial development.
The second stage incorporates an expansion to large-scale operations as outlined in the company’s 2017 definitive feasibility study together with enhancements identified in stage one.
Triton said it believed the benefits of the staged development strategic plan included lower up-front capital costs, a faster pathway to production, reduced risks and validating Ancuabe as a producing mine.
“We are targeting commercial production within 18 months (or by the September quarter 2023),” Executive Director Andrew Frazer said.
“It is important now that Triton constructs the CPP in Mozambique as soon as possible so that we can commence production of large flake, high-purity graphite for the quickly growing fire retardant and battery markets.”
TON shares were trading 7.14 per cent higher at three cents 10:58 am AEDT.