ASX-listed Triton Minerals has signed an offtake term sheet with Chinese graphite major Haida Graphite for the supply of graphite concentrate from the Ancuabe project in Mozambique.
The conditions of the term sheet are for the supply of up to 16,000 tonnes a year (t/y) to Haida over an initial period of five years — at a minimum delivery of 2500t per quarter — with an option to extend a further five years.
The term sheet signing with Haida, in addition to a recent deal with Tianshengda Graphite, means that Triton has now covered 32,000t/y of production in term sheets, representing over 50 per cent of projected annual production.
Peter Canterbury, managing director of Triton, was positive about the situation.
“We are very pleased to announce the offtake term sheet with Haida, which substantially progresses our strategic goal of securing 50 per cent of Ancuabe offtake by second quarter 2018,” he said.
“Haida is one of the world’s largest graphite producers and to become part of Haida’s supply chain is a strong endorsement of our premium Ancuabe graphite.”
It is expected that Triton will sign a binding offtake agreement with Haida by March 15.