africa commodities construction Economy Graphite Mining Mozambique

Triton Minerals hires Chinese company for graphite project in Mozambique

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Triton Minerals has hired Chinese company MCC International Incorporation to build the facilities and infrastructure of the Ancuabe graphite exploration project in Mozambique, the Australian company said.

The signing of the agreement, said the company in a statement released in Perth, took place after meetings held last week in China to clarify technical and commercial details.

Triton Minerals said it expects project development to start in the fourth quarter of 2018, with the construction equipment and materials expected to take place in the second quarter of 2019.

Peter Canterbury, managing director of the Australian company, said that the signed contract has a fixed price, giving financial security to the company in terms of capital costs and construction deadlines.

The Ancuabe project contains estimated graphite deposits of 3.04 million tons and the definitive economic feasibility study concluded that the concession could produce 60,000 tons of graphite concentrate per year over a 27-year period.

Source: macauhub

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