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.
