Tanzania has formalised state ownership of a share in the Lindi Jumbo graphite mine in Ruangwa District, signing a joint venture agreement on May 28 that establishes Ndovu Graphite Limited and locks in a 16% government stake without any upfront capital cost.
The deal was signed in Ruangwa, Lindi Region, by Minister of Minerals Anthony Mavunde, acting on behalf of the Tanzanian government. Lindi Jumbo Limited retains 84% of the new entity, while the state holds its 16% through a non-dilutable free carried interest as required under Tanzania’s Mining Act 2017.
The move carries more weight than the numbers suggest. Lindi Jumbo Limited was previously a wholly owned subsidiary of Australian-listed Walkabout Resources, which collapsed into voluntary administration in November 2024 after cash flow problems linked to port delays at Dar es Salaam and cost overruns. The joint venture formalises state participation in an asset that survived a corporate rescue and is now fully operational, producing 40,000 tonnes of graphite concentrate annually since reaching that capacity in June 2025.
The mine sits about 200 km from the port of Mtwara and holds confirmed reserves of 5.5 million tonnes at an average ore grade of 17.9% Total Graphitic Carbon (TGC), one of the highest concentrations on the continent. At current production rates, the project carries a 24-year mine life and has been valued at over $82 million. More than 300 jobs have been created at the site to date.
Tanzania currently ranks sixth globally in graphite production, with annual output of 25,000 tonnes from two operating large-scale mines. Mavunde said 28 additional licence holders are at various stages of development and warned that companies failing to meet production deadlines risk losing their licences.
The government’s broader ambition is openly competitive. China dominates global graphite supply with roughly 1.2 million tonnes of annual production, and Mavunde framed the Lindi Jumbo deal as part of Tanzania’s effort to close that gap, backed by over 30 medium and large-scale licence holders.
“President Dr. Samia Suluhu Hassan has continued to build and position our country as a nation with a clear economic vision,” Mavunde said.
India is currently the mine’s primary export destination. The company is working to qualify shipments into China and Germany, targeting markets that sit at the heart of the global electric vehicle battery supply chain. The first export shipment left Tanzania in May 2024, and Managing Director Andrew Cunningham said further exploration is planned to extend the mine’s productive life.
