Mining

Tanzania: Walkabout Resources boosts interest in Lindi Jumbo project to 100%

Wednesday, 30 May 2018 17:34

Walkabout Resources announced today May 30, it has exercised an option to acquire the remaining 30% stake that it did not already own in Tanzania-based Lindi Jumbo  graphite project. Indeed, under the purchase agreement concluded in 2015 with the vendor, the company had an option to acquire the rest of interest for $1 million.

“The purchase of the remaining 30% of the Project will see a huge value-adding transaction into the Company. 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,” Chairman Trevor Benson said.

The project, estimated at $29.6 million, is expected to produce 40,000 tons of graphite per year over its 20-year lifestime.

Louis-Nino Kansoun

On the same topic
Tunisia records more than 10 million tourists between January and November. Strong growth from Britain, France, China and other key markets. The...
Contract workers in Gabon’s oil industry denounce short-term deals and unmet commitments. Unions warn of a possible strike by December 31 if conditions...
Subcontracted workers in Gabon’s oil industry threaten to strike before December 31 over precarious working conditions. The extractive sector...
Cameroon’s pineapple exports fell by an average 18.1% between 2020 and 2025. Exports to the EU, Cameroon’s main market, declined 19.5% over the...
Most Read
01

Anthropic, Rwanda’s government, and ALX launched Chidi, an AI mentor built on Claude. It wi...

Anthropic Partners with Rwanda, ALX to Deploy Claude-Powered AI Learning Companion Across Africa
02

(MCB) - The Mauritius Commercial Bank Limited (“MCB”) has successfully granted a strategic financing...

MCB deploys strategic financing to Invictus Investment to scale up its agro-food operations in Africa
03

S&P upgrades Zambia to CCC+ as debt talks advance and copper output rebounds. About 94% of $...

S&P Raises Zambia’s Foreign-Currency Rating to CCC+
04

Government, ESCWA, and experts meet to shape national framework Plan aims to fight corruption, c...

Mauritania Advances Blockchain Policy to Modernize Digital Public Services
05

MTN Innovation Lab hosts Africa HealthTech Export 2025 Bootcamp in Cotonou Event targets s...

Africa HealthTech Bootcamp Opens in Benin With Focus on Regulation and Startup Growth
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.