PERTH (miningweekly.com) – Graphite developer Walkabout Resources has acquired the remaining 30% interest in the Lindi Jumbo graphite project, in Tanzania, for $1-million.
Executive chairperson Trevor Benson said on Wednesday that the purchase of the remaining 30% interest in the project would see a huge value adding transaction to Walkabout.
“The passing of this significant project milestone is indicative of the confidence that management has in the project and in the subsequent progression of events in Tanzania,” Benson said.
Walkabout now has full ownership of the Lindi Jumbo project, where the company was progressing a mining licence application.
The $29.6-million Lindi Jumbo project is expected to produce some 40 000 t/y of graphite-in-concentrate over a mine life of 20 years.