Australian mining company Triton Minerals has hired several consultants specialised in graphite mining projects to accelerate the development of its concession in northern Mozambique, the company said in a statement sent to Macauhub.
After hiring consultancy Coastal and Environmental Services Ltd to complete the environmental impact assessment for the operation in Monte Nicanda, Triton Minerals said it had gathered “a team of experts with extensive experience in graphite exploration,” to assist the company in preparing the definitive feasibility study for this project.
Among the group’s various areas of expertise, ranging from economics to supervision, the company selected Global DRA to lead the implementation of the study, which will feature contributions from seven other consultants, including ORElogy, Golder Associates, JEM Met, Legacy Project Solutions, Independent Metallurgical Operations, World Industrial Minerals and East Link Holdings.
According to Brad Boyle, executive director of Triton Minerals, hiring “a team of internationally renowned experts” will ensure a quick start for the Nicanda project in the province of Cabo Delgado, considered “the largest combined deposit of graphite and vanadium in the world.”
The geological evaluation of the project suggests that the deposit may contain 1.457 billion tons of graphite, with an average concentration of 10.7 percent carbon and 3.93 million tons of vanadium in an average concentration of 0.27 percent vanadium pentoxide.
To start the project, Triton Minerals plans to invest US$110 million, and, at the end of January, managed to reach an agreement with the Long State Investments Ltd, of Hong Kong, which will provide funding of US$15.7 million over two years.
As well as the Balam Norte concession, where the Monte Nicanda deposit is located, the Australian mining group holds the exploration rights to two other areas, Balama Sul and Ancuabe.
In Ancuabe, the samples taken during the early stages of exploration found large amounts of flake graphite, leading the company to explore the possibility of diversifying its range of products, which would give it “an extreme advantage over its competitors. ”
Given the distance a few dozen kilometres between each of the three concessions, the company will evaluate the possibility of building a central unit for graphite processing in Nicanda in an effort to reduce their operating costs.
Triton Minerals has a majority stake of 80 percent in the three projects in Mozambique – Ancuabe, Balama Norte and Balama Sul – with the remaining 20 percent owned by Grafex Ltd. (macauhub/MZ)