I found this on Australian Mining. The key item to note here is...

I found this on Australian Mining. The key item to note here is their interpretation of the legislation as targeting metals, precious metals, metal concentrates and gemstones. If so graphite and lithium players could come out relatively unscathed though I do agree there may be some impact on the SP in the short term.

"Another Perth-based company, Kibaran Resources, also conducted a review of the potential impact of the legislation, stating that the laws are not expected to affect its company.
“Kibaran understands that the legislation is designed to address the mining and export of precious metals and metal concentrates from existing operations in Tanzania,” it said in a statement.
“The company’s Epanko graphite project will produce and industrial mineral product of 96 per cent carbon that will be sold as a final product directly to customers in Germany, Japan and South Korea…As an industrial mineral operation the majority of the new provisions are not expected to impact the company as they appear targeted at mining operations for metals, precious metals, metal concentrates and gemstones.”