Triton Minerals, an ASX-listed mineral exploration company, has successfully secured a 25-year mining concession for the Cobra Plains graphite project in Mozambique. The concession was approved after consulting with the Mozambique government, and it adds to the company’s existing portfolio of graphite projects in the country.
Triton Minerals previously held an exploration license for the Cobra Plains project and sought to extend or amend it. Through its discussions with the government, the company was able to obtain a more advanced and valuable concession. This concession includes a large-scale 5.7 million tonnes contained graphite resource, which enhances the company’s ability to supply a diverse range of markets, from batteries to expandable graphite for building materials.
The granting of the mining concession also contributes to the value proposition of Triton Minerals, as it continues its ongoing funding discussions for its flagship Ancuabe graphite project in Mozambique. The Cobra Plains project is strategically located in the northern region of the country, within the Neoproterozoic rocks of the Xixano Complex. It is situated 10km away from Syrah’s Balama graphite mine and 230km from the port of Pemba on the Indian Ocean.
In 2014, Triton Minerals announced an inferred mineral resource estimate of 103 million tonnes for the Cobra Plains project, with an average grade of 5.52% graphitic carbon containing 5.7 million tonnes of graphitic carbon.
This new mining concession marks a significant milestone for Triton Minerals and further strengthens its position as a leading graphite exploration and development company in Mozambique.
Source: Energy Portal