Triton Minerals Ltd (Triton) has signed an offtake term sheet with Chinese graphite company Haida Graphite (Haida) for graphite concentrate from the Ancuabe Graphite Project in northern Mozambique, Africa.
Haida is a key Chinese graphite company with extensive mining, processing and sales experience. Haida produces a range of graphite products, including graphite sheets, spherical graphite, high purity and expandable graphite for customers in China and international markets including Japan, Korea, the US and Western Europe.
According to Triton, the offtake agreement reflects most of the same terms as the term sheet with Tianshengda Graphite and means that Triton has executed offtake term sheets for up to 32 000 tpa of graphite concentrate from the Ancuabe Graphite Project – more than 50% of anticipated annual production.
This represents a landmark achievement for Triton, and once converted into binding agreements, will support project financing negotiations for Ancuabe and allow Triton to consider strategic marketing strategies for their balance of Ancuabe graphite concentrate.
Following the offtake agreement, Triton’s Managing Director, Peter Canterbury, commented: “We are very pleased to announce the offtake term sheet with Haida, which substantially progresses our strategic goal of securing 50% of Ancuabe offtake by 2Q18. Haida is one of the world’s largest graphite producers and to become part of Haida’s supply chain is a strong endorsement of our premium Ancuabe graphite.”