The company has signed a second term sheet with a Chinese producer.
Triton Minerals Ltd has executed offtake term sheets for more than 50% of anticipated annual graphite production from the Ancuabe project in Mozambique.
This follows the signing of a new term sheet with a Chinese graphite producer, the second within a week.
Second agreement within a week
The term sheet with Shandong Province-based Haida Graphite is for up to 16,000 tonnes of graphite concentrate annually for an initial period of five years.
Haida is a major Chinese graphite company with extensive mining, processing and sales experience.
It produces a range of graphite products, including graphite sheets, spherical graphite, high purity and expandable graphite for customers in China and international markets.
The agreement is on substantially the same terms as last week’s term sheet with Tianshengda Graphite.
It means that Triton has executed term sheets for up to 32,000 tonnes of graphite concentrate annually from Ancuabe.
The latest term sheet sets the framework for a binding offtake agreement that is anticipated to be signed by 15 March 2018.
Source: ProActive Investor Australia