Mining company Triton Minerals has signed a contract with the Yichang Xincheng Graphite Co. (YXGC), of China, for the supply of graphite mined in Mozambique, the Australian company said in a statement sent to Macauhub Wednesday.
With the contract, which is for 20 years and a minimum value of US$2 billion, the Australian mining company also now holds the exclusive rights to supply graphite to YXGC in Malawi, Madagascar and Tanzania, as well as Mozambique.
The commercial contract guarantees a minimum sale price of US$1,000 per ton of graphite that the Chinese company will purchase during the 20-year contract period, with the overall value of the deal set at a minimum of US$2 billion.