Amigo Resources and STAMICO sign MOU for graphite tailings recovery in Tanzania

Amigo Resources PLC has signed a Memorandum of Understanding (MOU) with Tanzania’s state-owned State Mining Corporation (STAMICO) to evaluate the recovery of graphite from mining tailings, dumps, and stockpiles.

Under the agreement, Amigo will lead and fund a technical due diligence program. This includes representative sampling, mineralogical work, metallurgical testing, and independent laboratory analysis to determine if the graphite-bearing waste can be processed into a commercially saleable product. STAMICO will facilitate access to project areas and coordinate engagement with government authorities and local artisanal mining communities.

While the MOU is non-binding regarding final project development, specific provisions concerning exclusivity, confidentiality, costs, and dispute resolution are legally binding. STAMICO has granted Amigo exclusivity in discussions with third parties during the term of the MOU to allow for the assessment of the opportunity and the negotiation of definitive agreements.