Mozambique Mining Industry: Triton Minerals claims largest world class grahite deposite find

Australian mining group Triton Minerals claims to have discovered the world’s largest deposit of graphite in the region of Nicanda mountain, in Mozambican province of Cabo Delgado, which contain more than 115.9 million tons of this mineral as reported by Lusa, the portuguese news agency.

According to a statement posted on the company’s electronic site in just six months the activities of exploration and research performed in this block, which is incorporated in North Balama project, confirmed his potential “world class” having, in addition to the reserves of graphite, been 3.93 million tons discovered vanadium oxide.

“The Triton is now one step closer to becoming the market leader, with graphite at low cost and the possibility of becoming a producer of vanadium,” said the company’s director, Brad Boyle, quoted in the news release.

With two ongoing projects in the province of Cabo Delgado (North) – North and Balama Ancuabe – Australian mining has been announcing significant findings in about 30 exploration holes already made ​​in both areas, which are close to a concession of Syrah Resources, already with graphite exploration activities.

Among the 20 shareholders of Triton Minerals are Citicorp Nominees Pty Limited (23.8%), the financial group Citigroup, and JP Morgan Nominees Australia Limited (3.11%), JP Morgan.(LUSA)