Tanzania 'open for business again': Walkabout

WALKABOUT Resources has become the first company to be awarded a mining licence since the government of Tanzania changed its mining legislation last year.

Tanzania 'open for business again': Walkabout Tanzania 'open for business again': Walkabout Tanzania 'open for business again': Walkabout Tanzania 'open for business again': Walkabout Tanzania 'open for business again': Walkabout

Walkabout finally has the mining licence for its Lindi Jumbo graphite project in Tanzania

Chairman Trevor Benson hopes this will be taken as a sign that Tanzania is "open for business again", with increased confidence in the country and its investment opportunities.

"I think as that filters through, Tanzania and companies that are exposed to Tanzania will be re-rated again," he said.

Walkabout has seen its shares gain more than 36% since the start of 2018 to A15.5c at yesterday's close.

The granting of the mining licence for Walkabout's 100%-owned high-grade Lindi Jumbo graphite project in south-eastern Tanzania is an obvious relief to the company, which has faced a number of delays to the application process.

Last time MNN spoke to Benson on the sidelines of Mining Indaba