Triton Minerals (ASX:TON) has appointed former Fortescue Metals...

Triton Minerals (ASX:TON) has appointed former Fortescue Metals Group (ASX:FMG) senior executive Christopher Catlow as its new independent non-executive chairman.

He replaces Alan Jenks who will step down as chairman and continue as a non-executive director of the company.

Catlow has 25 years of international resources industry experience, having worked on the development and operations of oil and gas, hard rock and sand mining projects.

He played a central role in the formation of Iluka Resources (ASX:ILU) and was a senior executive and inaugural chief financial officer of FMG, having joined shortly after its formation in 2003.    

During his seven years at FMG, initially as its CFO and then as its investment and business development director, the company financed and brought into production its major iron ore mining, processing and port facility in Western Australia's Pilbara region.

“Chris’s experience significantly strengthens the Triton Board,” managing director Brad Boyle said.

He also thanked Jenks for his contribution to the company as its chairman.

“The milestones achieved under Alan’s guidance cannot be underestimated and have placed the company in a very strong position to transition from explorer to producer,” Boyle added.

“These changes to the board will assist the company in successfully navigating towards its goals of achieving commercial production at its Mozambique Graphite Projects and establishing TMG as the global graphite industry benchmark by aiming to offer the world's lowest cost and most diversified graphite product range.”

Triton is transitioning from an exploration company to a development company.

Earlier this month, it added its Ancuabe project to the due diligence for funding agreement from Chinese equity firm and resources trading company Shenzhen Qianhai Zhongjin Group Co., Ltd, due to queries from the Ministry of Commerce & Ministry of Land and Resources.

A positive outcome from this expanded due diligence process may allow Triton to access additional capital from SQZG to develop the project in Mozambique.

In April, SQZG agreed to provide funding of up to US$200 million (A$255 million) under the letter of intent to build and develop a graphite concentrate operation with initial capacity to produce up to 200,000 tonnes of graphite concentrate per year from Nicanda Hill.

This included an off-take agreement with an initial term of 10 years at 200,000 tonnes of graphite concentrate per year.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.