Triton Minerals reports promising DFS update for Ancuabe project, Mozambique

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Triton Minerals reports promising DFS update for Ancuabe project, Mozambique

4:56 CAT | 11 Jul 2023

FILE - Triton management and project partners stand outside the regional project office in Mozambique [File photo: : Triton Minerals / LinkedIn]

Triton Minerals (TON) updates its DFS and reduces its capEX to enhance the design of its processing plant at the company’s Ancuabe graphite project in Mozambique

The company reduces its overall project costs by some US$9 million and increases annual graphite production to 70,000 tonnes per year

The processing plant is also flagged to increase to 1.2 million tonnes per year

The treatment plant will be the most expensive part of the project, and its redesign is where the bulk of cost-cutting comes from

TON shares last traded at 3.4 cents

Triton Minerals (TON) has reported an interim update to the definitive feasibility study (DFS) for its Ancuabe graphite project in Mozambique – posting strong operational and financial improvements.

Overall capital expenditure has fallen some $9 million from USD$99.1 million to US$90.3 million.

The processing plant has also been flagged for increases to 1.2 million tonnes per year, an increase of 200,000 tonnes, increasing graphite production rates to 70,000 tonnes of graphite per year; previously, the original DFS saw this figure at 60,000.

Chinese-based Yantai JinPeng Mining Machinery and Verum Projects and Engineering teamed up to assess the DFS again for its update.

Treatment plant costs – the trickiest part of turning graphite-hosting rock into graphite metal – reflect the largest chunk of CapEx at US$32.09 million.

The actual mining itself is expected to cost US$7.6 million, with project costs of US$9.7 million and infrastructure costs of US$23 million.

According to TON, The US$9 million reduction in overall CapEx comes from a review of processing plant designs which reduce both the risk and costs.

Triton shares last traded at 3.4 cents.

TON by the numbers

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