Lindian Resources is advancing the Kangankunde rare earths project in Malawi to produce high‑grade monazite concentrate with low radionuclide content. Stage one is a conventional open‑pit mine and processing plant targeting 15,300 tpa of monazite concentrate, with first production scheduled for Q4 2026 and a projected 45‑year mine life. The company plans a stage‑two expansion to potentially increase production to 50,000 tpa and has expanded its mining licence from 900 to 2,500 hectares to support future growth. Lindian secured A$91.5 million (US$59.2 million) in funding commitments from institutional investors via a two‑tranche placement priced at A$0.21 per share (a 6.7% discount), with demand substantially in excess of the target. Strategic support from Iluka Resources includes a A$20 million construction loan, a 15‑year offtake agreement for 90,000 tonnes of monazite concentrate and a right of first refusal for stage‑two feed, aligning supply with Iluka’s Eneabba refinery timetable. The funding is earmarked to enable final investment decision and construction for stage one, acquire full ownership rights, order long‑lead equipment, finalise major contracts, advance stage‑two studies, and provide working capital and contingencies.

Total raised

$59M

Funding rounds

1

Latest round

Equity

Latest activity

Aug 2025