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Lindi Jumbo graphite project, Tanzania – update

Image of graphite from the Lindi Jumbo project

Photo by Walkabout Resources

16th June 2023

By: Sheila Barradas

Creamer Media Research Coordinator & Senior Deputy Editor

     

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Name of the Project
Lindi Jumbo graphite project.

Location
South-east Tanzania.

Project Owner/s
Walkabout Resources.

Project Description
The Lindi Jumbo project has mineral ore reserves of 5.15-million tonnes grading 17.9% total graphitic carbon for 987 000 t of con­tained graphite.

The mine life has increased from 20 years in the 2017 definitive feasibility study (DFS) to 24 years in the enhanced DFS to produce 40 000 t/y of graphite.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The pretax net present value has increased from $302-million, at a 10% discount rate in the 2017 DFS, to $335-million in the enhanced DFS. The project’s pretax internal rate of return is estimated at 142% in the enhanced DFS, from 108% in the 2017 DFS. The payback period is less than two years.

Capital Expenditure
Preproduction capital costs have decreased from $29.7-million in the 2017 DFS to $27.8-million in the enhanced DFS.

Planned Start/End Date
The construction schedule has not been modified in the enhanced DFS, as commissioning can be achieved 9 to 12 months after project-start funding has been received.

Latest Developments
Walkabout Resources has cleared another hurdle in a $20-million debt facility for its Lindi Jumbo project, with Gemcorp Investment Committee approving the transaction facility, along with a $5-million standby facility.

The debt and standby facilities are subject to formal loan documentation, which is being prepared.

The senior debt facility will have a three-year period and will be repaid from operating cash flow, starting in June 2024. The initial drawdown of the senior debt facility will be used to refinance existing interim funding measures, with the remainder of the facility to be used to complete construction costs, fund commissioning and provide working capital for the project.

Key Contracts, Suppliers and Consultants
TNR (bulk earthworks civil engineering works contract); Yantai Jinpeng Mining Machinery (engineering, procurement and construction, or EPC); and Axis Group International (EPC oversight).

Contact Details for Project Information
Walkabout Resources, tel +61 8 6298 7500 or email admin@wkt.com.au.

Edited by Creamer Media Reporter

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