Triton Minerals made significant strides in the December 2023 quarter, focusing on key initiatives at its Acuabe and Cobra Plains projects in Mozambique.
The company dedicated efforts to enhance the design and reduce capital for the processing plant at Ancuabe, collaborating closely with the FEED contractor to advance the project.
At Cobra Plains, Triton secured a new mining concession and initiated environmental approval works, including the DUAT and Resettlement Action Plan in Northern Mozambique.
To ensure financial stability, Triton underwent a comprehensive corporate review, implementing cost-saving measures without impacting project progression.
As of December 31, 2023, the company reported $2.65 million in cash on hand. With an eye on the graphite market, Triton anticipates potential improvements following China’s proposed restrictions on graphite exports.
The graphite sector is experiencing growth, particularly in lithium-ion battery anodes, with Benchmark Mineral Intelligence forecasting a 300% surge in battery-related demand by 2028.
