Modern Mining May 2019

MINING News

Triton granted Mining Concession for Ancuabe

Triton Minerals, listed on the ASX, reports that Mozambique’s Minister of Energy and Natural Resources, Ernesto Max Elias Tonela, has granted the Mining Concession for the company’s Ancuabe graphite proj- ect in Cabo Delgado Province in Northern Mozambique. Ministerial approval was the final step

in the Mining Concession application pro- cess, withTriton now having secured all the necessary regulatory approvals to progress the development of Ancuabe. The grant of the Mining Concession is also a critical milestone in terms of finalis- ing funding negotiations for the project. It will allow Triton to accelerate discussions

with sponsor banks of the company’s nominated engineering, procurement and construction (EPC) contractor. “The board is extremely pleased to receive final government approval for Ancuabe,” comments Triton’s MD, Peter Canterbury. “Mozambique has a long and proud history of mining and both regional and national government bodies have been extremely supportive during the permitting process, further reinforcing that the country is a premier location for min- ing investment in East Africa. “Triton has now signed binding off- take agreements for approximately 53 % of annual production from Ancuabe, has executed an EPC contract with MCC International, has been granted its Mining Concession which is the final approval required to commence produc- tion at Ancuabe, as well as having signed a project investment, financing and off- take MoU with Qingdao Jinhui Graphite Co Ltd and various other MoUs for off- take, graphite product marketing and off-take. “Importantly, the granting of the Mining Concession is a critical element of the financing process, that is progress- ing well. An announcement in relation to financing is expected in the near future.” Upon completion of the funding package for Ancuabe, Triton anticipates commencing design work, mobilisation to site and construction immediately. The Ancuabe Definitive Feasibility Study (DFS), published in December 2017, demonstrated that the project is techni- cally robust with strong economics. The DFS details an open-pit mine and process- ing plant able to produce approximately 60 000 t/a of graphite concentrate over the evaluation period of 27 years. 

Layout of the proposed Ancuabe mine. Two deposits, T12 and T16, will be exploited.

New Chief Executive Officer for Golden Star Canada’s Golden Star Resources (GSR), which owns and operates the Wassa and Prestea gold mines in Ghana, has appointed Andrew Wray as President and Chief Executive Officer, effective May 1, 2019, in succession to Sam Coetzer. Wray was previ- ously CEO of La Mancha.

Baker, Chairman of the GSR board. “Over the last six years, Sam has done an exceptional job in transitioning Golden Star into an underground mining company, attracting new shareholders, and improv- ing its financial position. On behalf of the entire board of directors, I wish to sincerely thank Sam for his commitment and dedica- tion and wish him all the best in his future endeavours.” Prior to joining La Mancha, Wray worked for Acacia Mining for over seven years, where he was Chief Financial Officer. Formerly, he spent close to 15 years with JPMorgan Cazenove. 

“After a thorough process, the Board of Directors has determined that Andrew has the ideal attributes to lead Golden Star. He combines significant experience in the sec- tor with a real focus on creating value for shareholders, together with the leadership skills to take the company through the next phase of its development,” comments Tim

14  MODERN MINING  May 2019