Triton Minerals Ltd. (ASX:TON) announced that a binding offtake agreement has been implemented between itself and Yichang Xincheng Graphite Co. Ltd., a Chinese graphite products specialist.
Triton Minerals Ltd. (ASX:TON) announced that a binding offtake agreement has been implemented between itself and Yichang Xincheng Graphite Co. Ltd., a Chinese graphite products specialist. According to the company, contract revenue will come to a minimum of $2 billion.
Furthermore, Triton now has exclusive rights to supply Yichang with graphite from Mozambique, Madagascar, Malawi and Tanzania.
Brad Boyle, managing director and CEO of Triton, commented:
Yichang Xincheng Graphite Co., Ltd is globally renowned as a supplier of a diverse range of high quality, high-tech expanded graphite products. This is a very special day for Triton as this binding commercial agreement is with a graphite specialist organisation that has mined, manufactured and sold expanded graphite products for nearly 20 years.
We are both proud and fortunate to be associated with a world-recognised and large-capacity graphite Company that supplies materials for some of the world’s most distinguished electronics and technology Companies.
Yue Bin, chairman of Yichang, commented:
Our Company, which is the largest private producer of high-value expanded graphite products in China and which supplies products to some of the world’s most celebrated technology companies, is extremely pleased to enter into a binding long-term commercial agreement with Triton. Tests in our laboratory on the TMG material performed well beyond our highest expectations and we feel TMG is ideally suited to support and build our diverse range of expandable graphite products. The long term supply of high quality TMG will not only allow our Company to develop competitively priced products for the global markets but will also contribute, indirectly, to the long term economic growth of Mozambique.