Amigo Resources Plc, a company focused on gold and critical minerals in Africa, has entered into a memorandum of understanding (MOU) with Tanzania’s State Mining Corporation (STAMICO) to evaluate a project aimed at recovering graphite from tailings.
This agreement grants Amigo exclusivity in discussions with third parties while both organizations negotiate a formal contract. STAMICO, a government-owned entity tasked with advancing mining sector development, will coordinate with relevant government bodies and local artisanal miners throughout the project.
Amigo will lead and fund a technical due diligence program involving sampling, metallurgical testing, and independent laboratory analysis of graphite-bearing tailings, dumps, and stockpiles. The goal is to transform historical graphite waste – currently seen as having limited value – into a marketable mineral product.
Craig Ransley, Amigo’s executive chair, emphasized that the MOU opens the door to assessing whether unused or waste graphite materials can be converted into valuable resources, potentially generating new income opportunities for eligible local miners and material owners.
Dr. Venance Mwasse, managing director of STAMICO, described the agreement as an important step toward broader collaboration between the two organizations in Tanzania’s mining sector.
While the MOU is non-binding regarding project development, key provisions on exclusivity, confidentiality, costs, and dispute resolution are legally binding. No mineral resource estimates, production targets, or economic outcomes have yet been established. The project’s viability will depend on satisfactory due diligence results and the negotiation of definitive agreements.
This partnership marks a promising initiative to unlock value from existing mineral resources and support sustainable economic benefits for local communities and the Tanzanian mining industry.
