Graphite developer Walkabout Resources is hoping that the development of its Lindi Jumbo graphite mine, in Tanzania, would open the floodgates for foreign investment in the African nation. Speaking at Paydirt’s Africa Downunder conference, in Perth, Walkabout CEO Andrew Cunningham said on Thursday that the $20-million to $25-million debt funding secured for the development of Lindi Jumbo marked the first foreign debt into the Tanzanian mining industry in the past 20 years, while the project itself was the first major mine to be developed over the last 10 to 15 years.
PERTH – Graphite developer Walkabout Resources is hoping that the development of its Lindi Jumbo graphite mine, in Tanzania, would open the floodgates for foreign investment in the African nation.said on Thursday that the $20-million to $25-million debt funding secured for the development of Lindi Jumbo marked the first foreign debt into the Tanzanian mining industry in the past 20 years, while the project itself was the first major mine to be developed over the last 10 to 15 years.
Walkabout on Thursday provided an update on the construction of the Lindi Jumbo project, noting that civil works was more than 97% complete while construction of the tailings storage facility was some 90% complete. To mitigate potential commissioning delays and to reduce future operating risk, Lindi Jumbo has reverted to acquiring diesel generators for full backup power. These generators are expected to arrive on site next month and will be critical for the timely commissioning and start-up of the processing plant while the transformer is being installed.
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Lindi Jumbo offers opportunity for mining in TanzaniaGraphite developer Walkabout Resources is hoping that the development of its Lindi Jumbo graphite mine, in Tanzania, would open the floodgates for foreign investment in the African nation. Speaking at Paydirt’s Africa Downunder conference, in Perth, Walkabout CEO Andrew Cunningham said on Thursday that the $20-million to $25-million debt funding secured for the development of Lindi Jumbo marked the first foreign debt into the Tanzanian mining industry in the past 20 years, while the project itself was the first major mine to be developed over the last 10 to 15 years.
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