Lindi, Tanzania - 29 May 2026: The Government of Tanzania has taken another major step in strengthening state participation in the mining sector after signing agreements with Lindi Jumbo Limited to formalise the Government’s stake in the Lindi Jumbo Graphite Project.
The agreements, signed yesterday in Matambarale Village, Ruangwa District in Lindi Region, establish a joint venture company known as Ndovu Graphite Limited through which the Government will hold a 16 percent non-dilutable free carried interest in the project. Lindi Jumbo Limited will retain the remaining 84 percent shareholding.
The signing marks a significant milestone in Tanzania’s strategic minerals agenda as the country seeks to secure greater benefits from its natural resources while positioning itself within the rapidly growing global critical minerals market.
Speaking during the ceremony, Tanzania’s Minister for Minerals, Hon. Anthony Mavunde, described the agreement as a historic achievement that demonstrates the Government’s commitment to ensuring Tanzanians directly benefit from mining investments.
Under the arrangement, the Government will participate in the project without bearing initial capital investment costs while still gaining access to dividends, participation in strategic decision-making, and enhanced oversight of mineral revenues.
Hon. Mavunde said the agreement reflects Tanzania’s evolving approach to mineral resource governance, where the country is moving beyond simply exporting raw minerals toward becoming an active participant in the global minerals value chain.
“The Government under the leadership of President Samia Suluhu Hassan has continued to strengthen Tanzania’s reputation as a stable and investment-friendly destination,” said Hon. Mavunde.
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