Tanziania's Richest Man Plans to Process and Refine Graphite

Summary

Mohammed Dewji, CEO of MeTL Group, plans to invest $275 million to process and refine graphite in Tanzania, aiming to capture Western demand for non-China supply. He cites China's 90% dominance in graphite processing and Western unease as creating a gap for Africa. The project will start with $25 million for primary processing, scaling to $250 million for 99.5% purity spherical graphite, with offtake agreements in place. This could boost Tanzania's economy, which the government targets to grow over 6%.

• Mohammed Dewji, CEO of MeTL Group, outlines a plan to invest $275 million in graphite processing in Tanzania.
• He notes China dominates 90% of graphite processing, but Western countries are seeking alternative supplies.
• Dewji has secured offtake agreements with Western partners and European export credit financing for the project.
• The project targets 50,000 tons per annum, with primary processing within 18 months and refining in 24 months.
• Dewji views gold mining as more speculative and is focusing on graphite first.
• Tanzania's government aims for GDP growth over 6%, with mining, agriculture, and construction as key drivers.
• Private investment from figures like Dewji and Aliko Dangote could help fill Tanzania's investment gap.