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Tanzania Government Secures 16% Stake in Lindi Jumbo Graphite Mine Through Ndovu Graphite Joint Venture
The Tanzanian government has formalized its statutory 16% non-dilutable equity stake in the Lindi Jumbo graphite mine in Lindi Region through a joint venture agreement that creates Ndovu Graphite Limited, with Lindi Jumbo Limited retaining an 84% stake. The mine produces 40,000 tonnes of graphite per year over a 24-year mine life, and Tanzania currently ranks sixth globally in graphite production, with an annual output of 25,000 tonnes from two large-scale operating mines, Lindi Jumbo and God Mwanga, in Tanga.