Walkabout Resources
Walkabout Resources directors Tom Murrell, Andrew Cunningham, Allan Mulligan and Trevor Benson.
Walkabout Resources has been granted an environmental impact assessment (EIA) certificate in respect of the Lindi Jumbo graphite mine in Tanzania.

Tanzania – The certificate was issued to ASX-listed emerging African graphite producer Walkabout Resources in terms of Section 92(1) of the Environmental Management Act No. 20 of 2004 of the United Republic of Tanzania.

The EIA is an important pre-requisite to the mining licence application which can now be submitted to the Ministry of Energy and Minerals.

Walkabout Resources expects the mining licence to be granted during the third quarter of 2017.

Under Tanzanian mining regulations, a mining licence is designed for use in mines with initial capital of less than US$100 million and the process for application is far less onerous and streamlined than that for a special mining licence.

The issue of the EIA is an important milestone for Walkabout Resources, which has recently completed a definitive feasibility study and is currently in the process of securing funding for the Lindi Jumbo project.

Further to the mining licence application is the advanced stage of the relocation assistance programme (RAP) which outlines agreement between the local stakeholders that are affected by the mine and the company.

Moreover, Walkabout Resources in May concluded a non-binding strategic sales and purchase MoU with specialist graphite trading house Georg H. Luh.

Georg H. Luh and Walkabout Resources will promptly commence commercial discussions on a confidential basis to negotiate the contractual sale and purchase of graphite, in the amount of between 10 000 and 12 500 tpa, across four series of purity and flake-size ranges commencing in 2018.

“The awarding of the EIA is a major milestone in moving towards a mining licence and to attracting development funding. The project can now progress along its planned development pathway in parallel with ongoing negotiations with potential off take partners and securing development capital,” says Walkabout Resources executive chairman Trevor Benson.

Feature image credit: Walkabout Resources