Lindian Resources poised to transform Kangankunde into a globally significant rare earths venture

Lindian Resources Ltd (ASX:LIN) is focused on developing its flagship Kangankunde Rare Earths Project in Malawi—one of the world’s largest undeveloped rare earths deposits. Notable for its high-grade rare earth oxide (REO) content and low impurities, Kangankunde offers strong development potential and scalability.

A July 2024 feasibility study confirmed robust economics and one of the lowest cost structures globally. With all major approvals secured and strong community and government backing, Lindian aims to begin Stage 1 construction in the first half of 2025.

The company also holds bauxite assets in Guinea and Tanzania.

Lindian Resources Ltd has made strong financing and development progress at its flagship Kangankunde Rare Earths Project in Malawi, with construction due to start in the near term.

Cost disciplines and financing pathways are progressing well, and the company remains on track to achieve first production in 2026.

The company has fielded several financing proposals, including a non-binding US$30 million term loan facility from Ecobank Malawi and an indicative senior secured bond offer from a leading European investment bank.

Construction and strategic initiatives at Lindian Resources Ltd’s flagship Kangankunde Rare Earths Project in Malawi continued apace during the March quarter.

The company, which is positioning itself to play a pivotal role in the global critical minerals supply chain, closed out the quarter with A$4.2 million in cash and continued to assess multiple funding and offtake proposals for the project, following the execution of a US$50 million non-binding term sheet with Gerald Group in late 2024.

Lindian Resources Ltd has secured 100% ownership of the Tier 1 Lelouma Bauxite Project in Guinea, following the execution of a binding Share Purchase Agreement (SPA) to acquire the remaining 25% interest in Bauxite Holding Ltd (formerly Sarmin Bauxite Limited).

The Lelouma Bauxite Project hosts a JORC-compliant Mineral Resource of 900 million tonnes at 45.0% aluminium oxide (Al₂O₃) and 2.1% silicon dioxide (SiO₂). This includes 398 million tonnes of measured and indicated resources at 48.1% aluminium oxide, featuring continuous zones of exceptional quality material exceeding 50% aluminium oxide. Of the total resource, 155 million tonnes are classified as Measured Resources at 47.9% aluminium oxide and 1.8% silicon dioxide (using a 40% aluminium oxide cut-off), with 115 million tonnes grading 49.6% aluminium oxide and 1.8% silicon dioxide (at a 45% aluminium oxide cut-off).

Lindian Resources Ltd (ASX:LIN, OTC:LINIF) CEO Alistair Stephens joins Jonathan Jackson in the Proactive studio to talk us through a new high-grade rare earth elements (REE) find at the Kangankunde Project in Malawi. The company identified high-grade carbonatite REE outcrops north and south of the Kangankunde resource following geological mapping and rock chip sampling. The peak assays from North Knoll (NYSE:KNL) included 7.15%, 5.15% and 4.69% total rare earth oxides (TREO). Stephens also discusses the company’s focus on advancing the stage-1 mine development and processing plant. Investors can expect plenty of newsflow in the coming months.