ASX-listed graphite developer Triton Minerals has shortlisted engineering, procurement and construction management (EPCM) companies Sinosteel Equipment & Engineering and MCC International as potential EPC contractors for its Mozambique-based Ancuabe graphite project.
Triton announced on Monday that negotiations were currently under way with the companies, which had progressed to the final stages of due diligence for the award of EPC contractor, owing to the companies’ significant EPC experience in natural resource construction. It noted that the final stage of due diligence would get under way immediately, running in parallel with the Ancuabe definitive feasibility study (DFS), which is due for completion in December, with site visits expected to take place in January.
“Sinosteel and MCC have both successfully undertaken construction projects in Mozambique and have shown strong interest in participating in the construction of the Ancuabe project,” said Triton MD Peter Canterbury.
He added that the EPC contract would be accompanied by debt financing arrangements.
“We will progress the EPC discussions and debt financing terms in parallel with the Ancuabe DFS, with a view to award the EPC contract in the first half of 2018,” he said.
Triton added, however, that it could not guarantee that a binding agreement would be entered into following due diligence and subsequent contract negotiations, though it aimed to do its best to award a legally binding EPC contract in the stipulated period.
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