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Triton Minerals Engages SDS to Progress Ancuabe and Cobra Plains Projects

26 September 2023 14:25
ASX: TON
Triton Easy Resize.com

Triton Minerals Limited (ASX:TON), an emerging graphite producer and developer, has taken a significant step towards advancing its Ancuabe and Cobra Plains Graphite Projects in Mozambique by entering into a Project Management Services Agreement with Soluções De Desenvolvimento Sustentável (SDS), a prominent firm specialising in sustainable development solutions.

Empowering Progress through Strategic Collaboration

Triton’s partnership with SDS is poised to unlock tremendous potential for the Company’s graphite projects, with SDS well-known for its expertise in assisting resource and infrastructure companies throughout the entire project lifecycle.

The Company’s flagship projects, the Ancuabe Graphite Project and Cobra Plains Graphite Project, are strategically located in Mozambique, known for its high-quality graphite deposits.

The collaboration is set to propel Triton towards becoming a prominent graphite producer and marks an exciting phase in the Company’s journey.

A Comprehensive Suite of Services

SDS brings a wide range of diversified engineering and construction solutions to the table, spanning across various sectors including resources, energy, civil construction, water supply, sanitation, and infrastructure. Leveraging this extensive experience, SDS is well-equipped to support Triton across various aspects of project development.

One crucial area where SDS will play a pivotal role is stakeholder engagement. They will take charge of managing interactions with all project stakeholders, including offering strategic and technical advice, preparing submissions, conducting negotiations, and actively participating in meetings.

SDS will rigorously assess Triton’s compliance with Mozambican legal requirements, specifically focusing on critical areas like Mining, Environment, Land, Employment, Tax, Income Tax, Withholding Taxes, and VAT.

In addition to stakeholder engagement and regulatory compliance, SDS will also provide essential project management, conduct studies, and offer engineering services.

Furthermore, their oversight of labour hire services, spanning functions like engineering, project management, mining, geology, processing/maintenance, and support services, will significantly enhance Triton’s project development efficiency and overall success.

Key Agreement Details

The Project Management Services Agreement, which took effect on July 1, 2023, will run for a duration of 18 months.

Under this agreement, the total contract price amounts to US$1 million, with payments structured as US$400,000 upon signing and subsequent monthly installments of US$50,000 from January 2024 through December 2024.

The Path Forward

Triton’s Executive Director, Mr. Andrew Frazer, expressed optimism about the collaboration, highlighting SDS’s experience and networks within Mozambique as invaluable assets.

“We have been extremely impressed with SDS’s experience and strong networks within Mozambique. SDS have experience with various resource and infrastructure projects which we believe will greatly assist Triton as we continue to progress development of our world class graphite projects,” he said.

“The next 18 months are expected to be pivotal in Triton’s journey to becoming a graphite producer and we are excited to have SDS assist us as we work tirelessly to create value for our shareholders.”

TON’s Australian Stock Exchange-listed share price was trading at 2.1c today (12.25 pm UTC+ 8 hours).

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