Triton Minerals Signs First Binding Offtake Agreement for Ancuabe Graphite
(firmenpresse) - Triton Minerals Signs First Binding Offtake Agreement for Ancuabe Graphite
Major Milestone reached with Qingdao Tianshengda Graphite - an integrated graphite processor and distributor across China - for up to 16,000tpa for 5 years
HIGHLIGHTS
- Up to 16,000 tonnes per annum for an initial period of five years plus seller option to extend for a further 5 years
- Graphite concentrate to be sold at prevailing market prices which positions Triton well for any upward swing in the graphite price
- Offtake Agreement also provides for further ore processing agreement for value adding opportunities
- Offtake provides further evidence of the strong demand for high quality, large/jumbo flake Ancuabe graphite
- Accelerates development objectives - including engineering, procurement and construction, approvals and project finance - with the confidence of secured offtake.
- Negotiations underway for additional binding offtake
Triton Minerals Limited (Triton or the Company) is pleased to announce that it has reached another major milestone in its strategy to fast track the development of its flagship Ancuabe Graphite Project, signing a binding sales agreement with Qingdao Tianshengda Graphite Co. Ltd (Tianshengda).
Based in Laiki City, Shandong Province, Tianshengda is an integrated graphite processor and distributor across China, with an annual capacity of 30,000 tonnes to 40,000 tonnes of value add graphite products per annum including expandable graphite, flake graphite and graphite powder.
The Offtake Agreement covers up to 16,000 tonnes a year of Ancuabe graphite concentrate for at least five years with a seller option for a further 5 years, with a minimum quantity of 10,000 tonnes per annum, across a range of graphite product specifications on a CIF Chinese port basis. Significantly, the price of the graphite concentrate will be determined for every 6 months of the term of the agreement by reference to prevailing market prices in China, over each proceeding 6 month period, adjusted for flake size and concentrate grade, If the parties cannot agree on the price then the parties will utilise an independent arbitrator. The Offtake Agreement is conditional upon Triton making an investment decision, obtaining all approvals and a mining concession and completing construction of the mine and infrastructure.
Commenting on the Offtake Agreement, Tritons Managing Director, Peter Canterbury said:
The binding Offtake Agreement is a significant achievement in the development of the Ancuabe Graphite Project.
Securing this binding agreement and becoming part of the supply chain for Tianshengda illustrates the strong demand for premium Ancuabe graphite concentrate, growth of the expandable graphite market in China, and vision of Chinese graphite producers to diversify their supply base in response to domestic shortages and legislative changes.
These factors underscore the value of the Ancuabe Graphite Project and Tritons position to supply premium, large flake/jumbo graphite into China and other global markets.
The offtake agreement also assists Triton to accelerate other development objectives - including engineering, procurement and construction, approvals and project finance - with the confidence of secured offtake and favourable graphite pricing.
Triton is absolutely focussed on achieving these development milestones and advancing Ancuabe to first production in H2 2019.
For further information visit www.tritonminerals.com or please contact:
Peter Canterbury
Managing Director
Tel: +61 8 6489 2555
Email: pcanterbury(at)tritonminerals.com
This release may include forward-looking statements. These forward-looking statements are not historical facts but rather are based on Triton Minerals Limiteds current expectations, estimates and assumptions about the industry in which Triton Minerals Limited operates, and beliefs and assumptions regarding Triton Minerals Limiteds future performance. Words such as anticipates, expects, intends, plans, believes, seeks, estimates, potential and similar expressions are intended to identify forward-looking statements. Forward-looking statements are only predictions and not guaranteed, and they are subject to known and unknown risks, uncertainties and assumptions, some of which are outside the control of Triton Minerals Limited. Actual values, results or events may be materially different to those expressed or implied in this release. Past performance is not necessarily a guide to future performance and no representation or warranty is made as to the likelihood of achievement or reasonableness of any forward-looking statements or other forecast. Given these uncertainties, recipients are cautioned not to place reliance on forward looking statements. Any forward-looking statements in this release speak only at the date of issue of this release. Subject to any continuing obligations under applicable law and the ASX Listing Rules, Triton Minerals Limited does not undertake any obligation to update or revise any information or any of the forward-looking statements in this release or any changes in events, conditions or circumstances on which any such forward looking statement is based.
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Datum: 19.04.2018 - 07:08 Uhr
Sprache: Deutsch
News-ID 574601
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