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.

Once commissioned, Lindi Jumbo will officially be the first modern, large-scale graphite mine in Tanzania, as well as the first critical minerals asset in the country to go into full production.

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
With the contracting of the power and camp scope changes, and the Lindi Jumbo plant construction nearing completion, the final estimated capital cost for the mine is $34.5-million, up from the $27.8-million estimated in the original DFS, Walkabout said on September 7, 2023.

The bulk of this cost was incurred in 2021.

Planned Start/End Date
The Lindi Jumbo project is preparing for operational readiness in early 2024.

Latest Developments
Walkabout has gone into voluntary administration. 

The receivers and managers have advised Walkabout that they plan to operate the mine and processing plant on a business-as-usual basis while reviewing operating and recapitalisation options.  They will work closely with Walkabout employees, suppliers, other secured lenders and customers to continue operations and preserve value for all stakeholders. 

The receivers and managers have secured a funding facility from Gemcorp of $10-million, which will be used to support Walkabout’s ramp-up and meet costs to ensure continuity of operations. 

Information for Walkabout’s creditors will be available on advisory and investment firm KordaMentha’s website at https://kordamentha.com/creditors/walkabout-resources-ltd.

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.