Walkabout Resources well-placed to benefit from renewed attention on battery minerals

Walkabout Resources Ltd (ASX:WKT) (FRA:N6D) is keen to push ahead with its flagship Lindi Jumbo Project in Tanzania amid increasing demand for graphite from clean and green tech applications and is hoping to start production this year.

"We believe the renewed attention on battery minerals will provide the stimulus to bring Lindi into production at just the right time," said managing director Allan Mulligan.

The company said progress was being made on a conditional US$25 million debt facility from the African Export-Import Bank and that it was looking for additional financing.

"We are seeking debt funding from African banks to fund the project," Mulligan added.

While the slow pace of funding is frustrating for the Australian-listed company, it expects to be able to move quickly once the process is complete and has previously highlighted a very short development timeframe of seven months from the receipt of financing.