Walkabout (ASX:WKT) ships first graphite concentrate from Lindi Jumbo

Walkabout (ASX:WKT) ships first graphite concentrate from Lindi Jumbo

June 7, 2024 Off By Jack Baker

Walkabout Resources has shipped off its first batch of on-specification graphite concentrate from its Lindi Jumbo mine, now on its way from Tanzania to European shores to mark first sales and a turn from developer to producer.

The Perth-based company expects to sell about 40,000 tonnes of premium natural flake graphite into international markets, coming from a unique large-flake 987,00 tonne ore reserve it believes could become one of the world’s highest margin operations.

It is early days, and work is still underway on improving plant performance, availability, and utility, with the ops team already achieving noteworthy savings in power and fuel usage.

Walkabout Managing Director and Chief Executive Andrew Cunningham said successful production of an on-spec, saleable product during the commissioning process was an exciting milestone.

“To achieve our first concentrate shipment from site, at a time when customers are looking to shore up their graphite supply chains is a rewarding and outstanding outcome for the tenacity of our people, community, contractors and shareholders,” he said.

“We now have the opportunity to engage with more end-users as we continue to demonstrate we have a viable product and that we are serious contenders in development of non-Chinese graphite supply.”

While volumes out of Lindi Jumbo are modest for now, it remains in an early ramp-up phase, and the sale will be the first part of a larger order from the end-use buyer.

Recently announced United States tariffs on Chinese imports inclusive of natural graphite are expected to improve pricing for a market already anticipating a squeeze.

Walkabout also holds a lesser advanced graphite asset in Tanzania at the Kimoingan project, where it has set an exploration target of 22 to 72 million tonnes at 8 to 12 per cent total graphitic carbon.

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