Triton Minerals (TON) has received a 25-year mining concession for its Cobra Plains graphite project in Mozambique.
The concession was granted by the country’s Minister of Energy and Natural Resources following a period of ongoing consultation with the Mozambican government.
With this grant, Triton’s portfolio now encompasses two world-class graphite projects, as the company continues to advance its flagship Ancuabe project.
“The grant of the Cobra Plains mining concession, with its large scale 5.7 Mt contained graphite resource, means that Triton now owns two globally significant graphite resources with a diversified mix of flake sizes, which can be applied towards a range of applications from batteries to expandable graphite for building materials,” TON Executive Director Andrew Frazer said.
“The granting of the mining concession adds further scale to our portfolio of graphite projects in Mozambique and to the value proposition as we continue with our ongoing funding discussions for the Ancuabe graphite project.”
The Cobra Plains project includes an inferred mineral resource estimate (MRE) of 103 million tonnes (Mt) at an average grade of 5.2 per cent total graphite concentrate (TGC), containing 5.7Mt of graphitic carbon.
TON shares were up 22.7 per cent, trading at 2.7 cents at 12:47 pm AEST.
