Tanzania formalises 16% stake in Lindi Jumbo Graphite Mine
Government secures non-dilutable equity in one of the country's largest graphite projects as Tanzania pushes to strengthen its position in the global graphite marke
Tanzania has formalised its 16% equity stake in the Lindi Jumbo graphite mine in Ruangwa through a newly signed agreement with Lindi Jumbo Limited.
The agreement was officially signed on May 28 in Ruangwa District, with Tanzania’s Minister of Minerals, Anthony Mavunde, representing the government.
According to Tanzania Invest, Lindi Jumbo Limited retains an 84% majority shareholding. In comparison, the government holds a 16% stake through non-dilutive free-carried interest shares, in line with the provisions of Tanzania’s Mining Act of 2017.
Speaking at the signing ceremony, Mavunde said the agreement reflects the country’s commitment to balancing investment attraction with responsible resource management.
“President Dr Samia Suluhu Hassan has continued to build and position our country as a nation with a clear economic vision, a favourable investment environment, and strong management of its natural resources,” he said.
Lindi Jumbo is among Tanzania’s largest graphite mining operations. Valued at more than USD 82 million, the mine has an estimated lifespan of 24 years and an annual production capacity of 40,000 tonnes of graphite concentrate. The project has also created more than 300 jobs since its development.
The mine is expected to play an important role in supporting Tanzania’s ambitions to expand its mining sector and benefit from growing global demand for graphite, a critical mineral used in electric vehicle batteries and energy storage technologies.
Mavunde noted that several other graphite projects across the country are at various stages of development and urged licence holders to commence operations within the timelines prescribed by law or risk losing their licences.
The agreement marks another step in Tanzania’s efforts to strengthen oversight of its mineral resources while maintaining an attractive environment for mining investment and long-term sector growth.
