Lindian puts the pedal down to develop Malawi rare | Australian Markets

Lindian Resources has made vital strides in the direction of opening its flagship Kangankunde rare earths mine in Malawi.

The company says it’s operating forward of schedule, because it seems to swiftly convey the low-cost vital minerals project into manufacturing.

Haul roads and a photo voltaic farm for the project are actually underway and Lindian has crammed 5 key positions to progress the website into its subsequent development part.

The mammoth Kangankunde project is progressing at an accelerated tempo, regardless of persevering with rare earths price weak point. Fortunately for the development, the project’s low-cost operations ought to make it profitable unbiased of price.

The company says its predominant entry highway has been accomplished forward of schedule and the haul roads for pit one and pit two are below construction. The course of plant space has been totally cleared, with rebar foundations laid and the first main concrete poured.

A customized photo voltaic farm to scale back diesel dependency is advancing, with foundations set and completion focused in below a month.

Concurrently, a website security compound with fencing and entry controls is almost completed to guarantee strong operational security.

Lindian nonetheless wants to signal some key contracts, together with for design and construction, mining and energy infrastructure. It has shortlisted three most popular tenderers for every.

The company has additionally employed a seasoned website management group, below construction supervisor Daniel Britz. It contains a senior course of engineer to optimise the gravity-magnetic flowsheet, a construction superintendent, a project planner and a QA/QC superintendent. The company says the appointees convey intensive experience in African mining tasks.

The Kangankunde deposit has a world-class 261-million-tonne useful resource, going 2.19 per cent whole rare earth oxide (TREO) and an ore reserve of 23Mt. The reserve grade is available in at an spectacular 2.9 per cent TREO. Importantly, virtually 20 per cent of that contains the more profitable magnet rare earths, neodymium and praseodymium.

Kangankunde’s financial fundamentals are compelling. With a minimal US$40 million (A$61.52M) pre-production capex and working prices of simply US$2.92 per kilogram TREO, it’s positioned in the lowest value quartile globally. The project’s 55 per cent TREO monazite focus meets stringent Western market necessities.

The company says it nonetheless has a slew of financing proposals from which to select, together with from main African and European industrial and investment banks, to fund construction. A US$50 million offtake and funding time period sheet with Gerald Group and a US$30M loan from Ecobank Malawi are advancing in the direction of a last investment resolution.

With a low-risk flowsheet, robust ESG alignment by means of sustainable energy and native employment, Lindian seems well-positioned to set up Kangankunde as a cornerstone rare earths provider for the oncoming electrification revolution.

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