Triton Minerals updates DFS for Ancuabe Graphite Project in Mozambique

Graphite developer Triton Minerals (ASX:TON) has released the results of an updated Definitive Feasibility Study (DFS) for its Ancuabe Graphite Project in Mozambique.

The company reports the DFS further investigated the processing plant and associated non-processing infrastructure and aimed to enhance the design of the processing plant, thereby reducing risk and lowering projected capital expenditure.

Compared to the DFS conducted in 2017, Triton has reduced the total process plant and infrastructure costs from US$86.486 million to US$72.854 million, while the total project costs have been reduced from US$99.352 million to US$90,254 million.

With the updated DFS now complete, Triton expects to increase the size of the processing plant from 1 million tonnes per annum to 1.2 million tonnes per annum. This is expected to increase the graphite production rate from about 60,000 tonnes per annum to about 70,000 tonnes per annum over the life of mine (LOM).

Triton says the results of the updated DFS were ‘extensively’ reviewed by technical advisors Yantai JinPeng Mining and Machinery and Perth-based Verum Projects and Engineering.

Triton Minerals is an ASX-listed graphite developer focused on its flagship Ancuabe Graphite Project in the Cabo Delgado region of Northern Mozambique. The company says the project will produce a ‘diverse’ range of graphite concentrates for use in the flame-retardant materials and lithium-ion battery industries.

On 1 May, Triton received a $5 million investment from China-based Shandong Yulong to further develop Ancuabe towards construction.

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Images: Triton Minerals Ltd
Written By Harry Mulholland
Hailing from the Central Coast region of NSW, Harry is a passionate journalist with a background in print, radio and ESG news. When not bashing away on his keyboard, he can be found brewing a coffee or playing with his dog.