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Walkabout consolidates ownership of Lindi Jumbo graphite project

Walkabout Resources Ltd. consolidated its ownership in the Lindi Jumbo graphite deposit in Tanzania by exercising its option to acquire the remaining 30% interest for US$1 million.

The company's wholly owned Lindi Jumbo Ltd. unit will now hold 100% of the mine, according to a May 30 release.

Walkabout said the Ministry of Minerals of Tanzania recently confirmed it will issue license applications in large batches until the backlog is depleted.