Triton’s Ancuabe Graphite Project Gets Provisional Environmental License

- June 13th, 2018

Graphite developer Triton Minerals says this milestone paves the way for final construction approvals, including the final environmental license.

Australia’s Triton Minerals (ASX:TON) has received a provisional environmental license for its Ancuabe graphite project in Mozambique, the company announced on Tuesday (June 12).

The graphite developer says this milestone paves the way for final construction approvals, including the final environmental license. The company can now apply for the construction permit required for the mine, plant and infrastructure.

“The grant of the provisional environmental licence comes at a timely stage as we progress early works and move toward construction of the raw water dam,” said Triton Managing Director Peter Canterbury.

Once the construction permit and final environmental license are granted, Triton will have in place all the critical permits required to complete full construction of Ancuabe.

“This is an exciting time for Triton with multiple development activities underway, including early works, finalisation of EPC tenders, and development financing,” Canterbury noted.

A mining concession for the project is expected to be issued in the near future, but it is not required to be granted until mining operations start.

Looking ahead, Triton estimates construction will begin in the second half of 2018, with first graphite production targeted for the second half of 2019.

A definitive feasibility study on the project indicates that it would require production capital of US$99.4 million to build a mine with yearly output of about 60,000 tonnes of graphite concentrate.

The company has committed over 50 percent of planned production at Ancuabe after signing two offtake deals in recent months with China’s Qingdao Tianshengda Graphite and Qingdao Chengyang Graphite.

Aside from Ancuabe, the company holds interests in other two graphite projects in Mozambique: the Balama North and the Balama South assets.

On Wednesday (June 13), shares of Triton Minerals closed down 4 percent in Sydney at AU$0.07.

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Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.

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