• Lindian raises A$6 million for Malawi rare earths project

• Funding supports Kangankunde production, targeting 2026 launch

• Project could position Malawi as rare earths producer

Australian mining firm Lindian Resources said on April 7 it had raised A$6 million ($4.2 million). The funds will support ongoing work to bring the Kangankunde rare earths project in Malawi into production. The move comes days after the launch of a A$100 million share placement for the same project.

The company said the capital raise resulted from investors exercising options to take up new shares. Backed by these funds and expected proceeds from the placement, Lindian aims to bring Kangankunde online by the fourth quarter of 2026 while preparing a second-phase expansion. Initial output is expected at 20,000 tonnes of rare earth concentrate per year, with potential to scale up to about 100,000 tonnes.

“The options proceeds together with cash at bank and recent A$100 million Institutional Placement strengthens Lindian’s balance sheet. Funds will be applied towards completion of Stage 1 Kangankunde Rare Earths Project  to reach first Concentrate production and cash flow, Stage 2 Expansion, and the SARECO MREC facility,” the company said.

Once operational, Kangankunde could position Lindian as a global supplier of rare earths, which are increasingly strategic due to their use in permanent magnets for wind turbines, electric vehicles and electronics. This is particularly significant for Africa, which has not had an active rare earth production site since Burundi’s Gakara mine halted operations in 2021.

Beyond putting Malawi on the map as a producer, Kangankunde is expected to provide a new source of revenue for a mining sector that currently accounts for less than 1% of GDP. The country also hosts the Songwe Hill project, which is at an earlier stage, while other projects are emerging elsewhere on the continent, notably in Angola and Namibia.

Aurel Sèdjro Houenou