Triton Minerals has been actively developing a funding package for the construction of the Ancuabe mining project in Mozambique and has entered discussions with Chinese investor Shandong Yulong.
Triton is engaging with Chinese investment funds and agencies which will potentially be able to provide debt funding at competitive rates, according to an update on the establishment of the funding package for the Ancuabe project, following the recently announced re-commitment to the large-scale development.
Access to proposed cornerstone shareholder Shandong Yulong’s resource integration advantage within China for potential funding, offtake and other development initiatives provides Triton has the potential of fast-tracking the Ancuabe project into development.
Triton’s Executive Director, Andrew Frazer said: “It’s extremely powerful to have access to proposed cornerstone shareholder Shandong Yulong’s resource integration advantage within China”.
“We are thrilled to have this resource integration advantage as we rapidly move towards development of the Ancuabe project as we look to generate value for our shareholders”, he added.
Triton Chairman, Rod Zhang said Shandong Yulong “is proud to potentially be the preferred Chinese debt arranger and a cornerstone investment in Triton”.
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“We look forward to playing a key part in bringing Triton’s world class Ancuabe Project into development. We are looking forward to progressing these potential arrangements in coming months”, Zhang added.