Lindian Resources Ltd (ASX:LIN, OTC:LINIF), in its latest operational update, has outlined significant progress in the development of the Kangankunde Rare Earths Project in Malawi, indicating robust groundwork for project advancement in 2024.
The company aims to be a significant global producer of NdPr bearing non-radioactive monazite mineral concentrate using gravity separation for mineral recovery.
This, combined with the ability to access hydroelectric power from the national Malawi grid, and progressive programs to reduce the mobile-fleet carbon emissions on site and introduce renewable energy initiatives, will place the company in a unique value position with a low environmental footprint in the rare earths industry.
Project of global significance
Lindian executive chairman Asimwe Kabunga said: “Lindian has made excellent progress in 2023 with the accelerated development of the world class Kangankunde rare earths project.
"We have achieved a considerable amount in a very short timeframe since we secured the project only 16 months ago.
"We expect a similar pace of development in CY2024 with a number of key value accretive milestones to be reported in the first quarter.
"Lindian is well-funded with plenty of flexibility and industry interest to deliver on our objective of rapidly bringing the project into production.
"Kangankunde is a hugely valuable rare earths project of global significance and this will become more evident as we deliver on our stated objectives in the near-term.”
Kangankunde Location
Key achievements
Key achievements for 2023 include the completion of stage three drilling aimed at defining an indicated resource category, with assay results pending.
The company has also undertaken efforts to simplify and optimise the metallurgical flowsheet.
Further developments include the assessment of a trial mining campaign and the commencement of a mine geotechnical study program.
Additionally, the process plant tender package is being finalised for issue.
Meanwhile, the company is also progressing with the application for a Water Extraction Licence.
Forward plan
A critical aspect of the project's progress is the update of the resource model and the completion of detailed mine design and mine schedule, anticipated in the March quarter of 2024.
In addition, the feasibility study is on track to be completed and released in the same quarter.
The company has received civil works tender submissions, with a contract award expected in the March quarter as well.
Lindian is actively engaged in negotiations for project funding and pre-sale and off-take agreements, highlighting the strategic significance of the Kangankunde project in the rare earths sector. These steps underscore Lindian's commitment to advancing the project efficiently, with a focus on sustainable and profitable operations.
Lindian CEO Alistair Stephens added: “The progress of site development is advancing well. We expect a steady flow of mine development updates including an updated resource statement, mine designs and material scheduling, and firm quotations for all processing plant and associated infrastructure costs to be progressively reported from early in the new year leading to our deasibility study in the first quarter of calendar 2024.
"The fact that the requisite licences are in place, with continued strong support from the Malawian Government and the Local Community, means we are on track for development next year.
"Lindian is making great progress with our low capex Stage 1 plant that will produce unique non-radioactive rare earths concentrate.”
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