ASX-listed Walkabout Resources reports that the valuation for the Resettlement Action Plan compensation activities that were completed
in 2018 has been approved by all the stakeholders and officially signed off by the Chief Government Valuator in Dodoma, Tanzania.
The approval and settlement of the RAP is a major milestone which now allows on-site work to commence at the Lindi Jumbo Graphite Project in Tanzania.
Executive Director of Walkabout Resources, Allan Mulligan comments:
“The milestones are being ticked off one by one. Our construction arrangements at Lindi Jumbo in Tanzania are progressing well and we are very pleased with this achievement managed by our small project team.” “The organised and well communicated execution of the RAP compensation is very important to our local communities. It validates in hard currency, the goodwill and social outcomes we have worked closely on achieving with our local stakeholders.”
- Project has reached important Development milestone.
- Total Mining Area compensation payable is USD2m.
- Brings to an end a 2-year intensive survey involving more than
- 1,000 individuals.
- Company has negotiated for staged payout to of compensation
- over six months.
The final sign off of the valuation for re-settlement and land compensation by the Chief Government Valuator for a total of TSH 4,634,482,900 (four billion six hundred and thirty-four million four hundred and eighty-two thousand nine hundred Tanzanian Shillings) which is an estimate of US$2 million (at the long-term average exchange rate of 2,290 TSH per USD).
This completes a lengthy and comprehensive process of public consultations, stakeholder engagement meetings, extensive fieldwork to compile all the necessary data of a process that included local communities, various government officials and external consultants.
Each individual land use compensation Agreement is valid for 6 months where-after, if the company has not settled with the beneficiary, the valuation process must be repeated.