London, 30 Aug (AIM) – The Australian mining company Triton Minerals, which holds the rights to graphite deposits in the northern Mozambican province of Cabo Delgado, on Wednesday announced that the Ministry of Energy and Natural Resources has granted it a 25-year mining concession for the Cobra Plains graphite deposit.
According to an announcement to the Australian Securities Exchange, the company states that the granting of the mining concession comes after a period of ongoing consultation with the government of Mozambique.
It points out that although it had previously held an exploration licence for Cobra Plains, the result of this consultation is the grant of the far more advanced and valuable mining concession, “confirming Triton’s excellent relationship with the Mozambique authorities and adding scale to Triton’s portfolio of graphite projects in Mozambique”.
Commenting on the development, Triton’s Executive Director Andrew Frazer notes that “the grant of the Cobra Plains mining concession, with its large scale 5.7 million tonnes of graphite, 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”.
The company’s flagship project is the Ancuabe Graphite project and it is continuing to seek funding for development. However, it also notes that its Nicanda Hill license has been earmarked for public tender despite Triton’s efforts to have the licence renewed and it has appealed to the Minister of Energy and Natural Resources to review this decision.
The Cobra Plains project is about ten kilometres away from the Balama graphite mine operated by Syrah Resources and is 230 kilometres away from the port of Pemba. The Balama mine covers 106 square kilometres and is reported to hold the largest graphite reserves ever discovered.
Graphite is a highly valued form of carbon due to its properties as a conductor of electricity. It is used in batteries and fuel cells and is the basis for the “miracle material” graphene, which is the strongest material ever measured, with vast potential for use in the electronics industries.
(AIM)
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