Lindi Jumbo project in Tanzania on track
Tanzania’s first graphite mine, the Lindi Jumbo project is on track to production. Walkabout Resources’ CEO Andrew Cunningham confirmed the report and said it is all systems go to commence production before the end of 2023.
The Lindi Jumbo project is located in south-eastern Tanzania, known for its coarse flake graphite deposits. The project holds a significant mineral resource of 41.8 million tonnes at 10.8% total graphitic carbon (TGC). The project’s uniqueness lies in its high-grade graphite resource, with a majority of large graphite flakes. The larger the flake size, the higher the sales price, which is seen as a potential advantage for profitability.
Lindi Jumbo project
Construction of the Lindi Jumbo mine began in late 2021. However, there were funding delays over the past year. The company is focused on raising equity and has signed a debt facility agreement of up to US$25 million with Gemcorp, a UK-based investment management fund, to fund the project.
Walkabout Resources aims to produce 40,000 tonnes per annum (tpa) of graphite concentrate over a 24-year mine life. Their focus is on delivering sustainable margins rather than chasing net present value (NPV). The firm has already secured an off-take agreement with Wogan, a mineral trading company specializing in Asian markets. Wogan has an exclusivity agreement for the entire production of 40,000 tpa of graphite concentrate.
“The resource is very predictable in its nature and mining will comprise drill and blast with a certain portion that will be free dig, which will happen from the surface, so the stripping is minimal. We will use a few trucks to transport ore to the ROM pad and a relatively small excavator. All our waste rock goes to the tailings dam and used in the bulk of the retaining walls. As such, there will not be any waste dumps,” said CEO Cunningham.
