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Triton Minerals strikes 3rd deal to sell Ancuabe graphite to China

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Triton Minerals strikes 3rd deal to sell Ancuabe graphite to China

Australian graphite hopeful Triton Minerals Ltd. locked in another conditional agreement to supply a further 25% of production from its flagship Ancuabe graphite project in Mozambique to China.

The company said Oct. 16 that it now has conditional agreements for all the planned production from the project after it signed a memorandum of understanding with one of China's largest graphite companies, Haida Graphite.

Under the memorandum of understanding, Triton and Haida will also investigate a potential marketing and technical partnership for the supply of value-added graphite products for flame retardant building materials, lithium-ion batteries and refractory products.

Triton previously signed conditional agreements with Qingdao Tianshengda Graphite Co. Ltd. and Sinoma Overseas Development Co. for about 80% of the 50,000 to 60,000 tonnes of annual graphite concentrate production from Ancuabe.

Haida Graphite and Triton Minerals are working toward finalizing a legally binding agreement in early 2018.

A definitive feasibility study for the Ancuabe project is due for completion in December.