Lindian Resources Limited announced that its Kangankunde Rare Earths Project in Malawi is progressing towards its target of first monazite concentrate production by the end of 2026. This ambitious timeline is supported by continuous construction efforts, operating 24 hours a day, and the establishment of substantial ore feedstock, with approximately 125,000 tonnes of ore already stockpiled ahead of schedule. The company's immediate focus is on completing construction, energizing the plant, and commissioning individual systems.
The project recently hosted the Honourable Minister of Mining, Thoko Tembo, and a senior Malawian government delegation, who inspected the site's progress, including the process plant, active mining areas, and tailings storage facility. Mining operations are well underway, with 14 production blasts completed since active mining began in July 2026. The Minister highlighted the project's significant contribution to local employment, with over 85% of Lindian's direct workforce being Malawian, and the overall construction workforce exceeding 3,000 personnel, predominantly Malawian nationals. The Minister also praised Lindian's initiative to set up a solar plant, encouraging other mining companies to adopt similar sustainable practices.
Lindian's Executive Director, Zac Komur, emphasized the project's rapid transition from construction to operations, noting the visible progress across the site and the commitment of the workforce. He reiterated that the project is poised for practical completion and first production in the fourth quarter of 2026. Lindian Resources, having raised A$191.5 million through institutional placements in FY2026 and closing the year with roughly A$108 million in cash, confirms the project is fully funded. The Stage 1 Base Case Feasibility Study indicates a pre-tax NPV8 of $794 million and an IRR of 99%.
