Government acquires 16 percent stake in graphite project

Minerals Minister Anthony Mavunde (second left) shakes hands with Lindi Jumbo Director Andrew Cunningham after the signing of agreements between the Tanzanian government and Lindi Jumbo Limited on the Stateís participation in the Lindi Jumbo Graphite Project through Ndovu Graphite Limited in Ruangwa District, Lindi Region, at the weekend. With them are a representative from the office of the Treasury Registrar, Dr Emmanuel Luvanda (right), Gemcorp representative William Binedell (second right) and Lindi Jumbo Legal Adviser and Company Secretary Ephraim Mrawa. PHOTO  | COURTESY

By  The Citizen Reporter

Media/news company

Mwananchi Communications Limited

What you need to know:

  • The stake will be held through a joint venture company, Ndovu Graphite Limited, while Lindi Jumbo Limited will retain the remaining 84 percent

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