Lindian Resources Ltd (ASX:LIN, OTC:LINIF) has started an extensive search to appoint up to two new independent non-executive directors to the company’s board following the resignation of executive chairperson Asimwe Kabunga.
Through this search and selection process, Lindian aims to identify the best available candidates with relevant skills and experience to assist and guide the company and its Kangankunde Rare Earths Project in Malawi through the next stage of its development.
The company proposes that any new directors appointed be independent of existing substantial shareholders.
It is also intended that one of the new appointees will fill the role of non-executive chair of the company.
Kangankunde the cornerstone
Lindian, an Australian-based company with world-class rare earths and bauxite assets in Malawi and Guinea, aims to become a globally significant critical minerals producer through the development of these assets.
The Kangankunde Rare Earths Project is the cornerstone of the portfolio. It is one of the world’s largest, rare earths deposit and is top-tier in terms of high REO grade and low levels of impurities and radioactive minerals.
A feasibility study on the Stage 1 development delivered outstanding technical and economic results, including that Kangankunde has one of the lowest capital and operating cost structures of global rare earths projects.
Bauxite assets
Lindian also has bauxite assets in Guinea and Tanzania. In Guinea, three bauxite assets have JORC-compliant mineral resource estimates.
Guinea is known as the premier bauxite location in the world, having high grade and low impurities premium quality bauxite.
In Tanzania, Lindian’s three bauxite assets consist of eight highly prospective tenements.
In a statement today, Lindian said its board, working with the chief executive officer and his team, remained committed to secure the necessary funding to progress the Stage 1 development of the Kangankunde Project and opportunities to create value from the Guinea bauxite assets.