Modern Mining May 2022

GRAPHITE

Lindi Jumbo graphite targets production As the uptake for clean energy options intensifies, the demand for associated minerals to support these developments is also on the rise. In particular, battery storage and electric vehicle segments continue to gain traction with market research company, Fortune Business Insights, reporting that the electric vehicle market, which accounted for $163,01-billion in 2020, is set to reach a whopping $823,74-billion by 2030; growing at a compound annual growth rate of 18,2% from 2021 to 2030. By Nelendhre Moodley .

G raphite is an essential raw material used in electric vehicle (EV) batteries and, on the back of a surge in growth of the EV market, the demand for and price of graphite has been rising. It is estimated that between 50 and 100 kg of graphite, whether synthetic or natural, is present within each electric vehicle. For Australian-owned energy minerals devel oper Walkabout Resources, which is focused on the development of its flagship Lindi Jumbo graphite project in Tanzania, the robust demand for graphite is good news. According to CEO Andrew Cunningham, there are massive investments being made in the

Right: Construction of the Lindi Jumbo graphite project is scheduled for completion before year-end.

development of EV battery mega-factories across the world, which is underpinning the substantial demand for minerals used in the production of EV.

Below: Construction of the Lindi Jumbo project underway.

22  MODERN MINING  May 2022