(Triton or Company) is pleased to announce the implementation of a binding off-take agreement with Chinese graphite products specialist Yichang Xincheng Graphite Co., Ltd (YXGC) for Triton's Mozambique Graphite (TMG). Further, Triton has exclusive rights to supply graphite to YXGC from Mozambique, Madagascar, Malawi and Tanzania.Minimum total contract revenue of US$2,000,000,000 (two billion dollars US) is assured by a floor price of US$1,000/tonne, with the full contract value determined by the future sale price as set by the applicable market price.
Yichang Xincheng Graphite Co., Ltd is globally renowned as a supplier of a diverse range of high quality, high-tech expanded graphite products. This is a very special day for Triton as this binding commercial agreement is with a graphite specialist organisation that has mined, manufactured and sold expanded graphite products for nearly 20 years.We are both proud and fortunate to be associated with a world-recognised and large-capacity graphite Company that supplies materials for some of the world's most distinguished electronics and technology Companies."Chairman of Yichang Xincheng Graphite Co. Ltd. Mr Yue Bin said:"Our Company, which is the largest private producer of high-value expanded graphite products in China and which supplies products to some of the world's most celebrated technology companies, is extremely pleased to enter into a binding long-term commercial agreement with Triton. Tests in our laboratory on the TMG material performed well beyond our highest expectations and we feel TMG is ideally suited to support and build our diverse range of expandable graphite products. The long term supply of high quality TMG will not only allow our Company to develop competitively priced products for the global markets but will also contribute, indirectly, to the long term economic growth of Mozambique.
"ABOUT YICHANG XINCHENG GRAPHITE CO., LTDYXGC is located in Yichang, China. This region of China is famous for being the hydroelectric capital of the world and is one of the biggest enterprises area from the whole of China for mineral processing and products.YXGC operates some of the most advanced graphite processing equipment in the world with professional management and superior production systems including graphite air-flow classification equipment, super-minute crushing equipment and flexible graphite sheets and rolls production line.The main graphite products produced by YXGC included: micro-powder graphite, high-purity graphite, natural flake graphite, expandable graphite, amorphous graphite, flexible graphite sheet and roll, flexible graphite tape, flexible graphite ribbon tape, reinforced expanded graphite sheet, flexible graphite yarn, flexible graphite braided packing, die-formed graphite ring, graphite gasket, spiral wound gasket, exhaust manifold gasket, expandable graphite fireproofing strips, expanded graphite knitted tape, expanded graphite cloth, graphite crucible and high purified graphite products.YXGC products are widely used in the fields of petroleum and chemical industry, steel refining, electric power, metallurgy, machinery, automobile, shipping building, pharmacy, aerospace industry, nuclear industry and, most significantly, a number of distinguished global electronic and technology companies.YXGC products are distributed throughout China and exported to more than 20 countries around the world.With the adoption of the binding long term off-take agreement with YXGC, Triton is now positioned to continue with the rapid development towards large scale production of TMG.
‘KL - here we go again.
TON Price at posting:
4.5¢ Sentiment: Buy Disclosure: Held
