The Tanzanian government formalized a 16% non-dilutable equity stake in the Lindi Jumbo graphite mine, located in Ruangwa District, Lindi Region, through a joint venture that established Ndovu Graphite Limited.

Lindi Jumbo Limited retains 84% ownership, while the government holds the remaining 16% via non-dilutable free carried interest shares mandated by the Mining Act 2017.

The mine, valued at over USD 82 million, has an annual production capacity of 40,000 tonnes of graphite concentrate and a projected mine life of 24 years, contributing to job creation and local economic activity.The signing ceremony occurred on May 28, 2026, with Minister of Minerals Anthony Mavunde representing the government.Tanzania ranks sixth globally in graphite production, currently producing about 25,000 tonnes per year from Lindi Jumbo and God Mwanga.

The government’s move underscores its strategy to position Tanzania as a key player in the global graphite supply chain, a material critical for electric vehicle batteries.

Lindi Jumbo’s significant resource includes high-grade ore with substantial reserves, and the company plans further exploration to extend the deposit’s life.Past ownership shifts saw Lindi Jumbo Limited transition from Walkabout Resources before restructuring.

The agreement emphasizes non-dilutable government participation to ensure public benefit from mining wealth, alongside commitments to adhere to production schedules and license conditions for the broader sector.