Walkabout Resources has produced and shipped the first consignment of on-specification graphite concentrate from its fully owned Lindi Jumbo graphite mine in Tanzania.
The initial consignment of on-spec bagged graphite concentrate has been shipped to Dar es Salaam for sale to Wogen Pacific under an exclusive offtake agreement signed in 2022.
Located in south-eastern Tanzania, about 200km from the Port of Mtwara and 460km from Dar es Salaam, the Lindi Jumbo project entailed an upfront capital expenditure (capex) of $27.8m.
Besides, the projected after-tax net present value (NPV) for the Tanzanian graphite mine is $197m. Its post-tax internal rate of return (IRR) is 119% with a payback period of 22 months.
The Australia-based minerals developer said that the commissioning of all sections of the Lindi Jumbo plant are completed.
According to Walkabout Resources, the commissioning team is focused on enhancing plant availability to enable continuous operation of the entire circuit. The company aims to gradually ramp up throughput towards the targeted production volume of 40Ktpa.
Once the throughput targets are achieved, the team will move its focus towards optimising the processing circuits end-to-end at the graphite mine project to consistently attain customer product specifications.
Walkabout Resources managing director and CEO Andrew Cunningham said: “The successful production of on-spec, saleable product during the commissioning process at the Lindi Jumbo plant facility is an exciting milestone.
“To achieve our first concentrate shipment from site, at a time when customers are looking to shore up their graphite supply chains is a rewarding and outstanding outcome for the tenacity of our people, community, contractors and shareholders.
“We now have the opportunity to engage with more end-users as we continue to demonstrate we have a viable product and that we are serious contenders in development of non-Chinese graphite supply.”
