Early stage development is already underway at the high-grade Ancuabe graphite project, with the Triton Minerals board giving the go-ahead to commence mine development at the Mozambique-based deposit.
The approved Final Investment Decision (FID) seeks to bring the project online which, according to a previously released Definitive Feasibility Study (DFS), is expected to produce 24.9 million tonnes of graphite at 6.2% Total Graphitic Carbon (TGC).
Triton anticipates a highly attractive mine-life of 27 years at Ancuabe, which would see the project producing graphite at a time when demand for battery minerals continues to grow.
The company has secured binding off-take agreements for up to 50% of annual production.
Early works currently underway at site include earthworks for the development of a raw water dam, which is needed for construction and operations.
Site access roads are being repaired to provide access for construction equipment and fuel tanks, while medical and camp service providers will arrive at site shortly, with camp construction also commenced.
Construction is expected to commence in the second half of 2018.
The development of Ancuabe will deliver substantial benefits for government, stakeholders and communities in northern Mozambique,” Triton managing director Peter Canterbury said.
“The substantial work undertaken by Triton during 2018 has confirmed the Board’s confidence in Ancuabe and enabled the Board to make this development decision only 18 months from the discovery of the T16 deposit.
“As outlined in the DFS, Ancuabe is forecast to deliver strong economics returns for Triton, and we are excited to continue to de-risk and deliver value for Shareholders as we progress to first production,” he said.
Triton reports that it is targeting the second half of 2019 for the supply of first graphite.
