• Final $10M payment accelerated as construction and studies progress
  
  
• Project to begin production in 2026; aims for 50,000 t/year in second phase
  

Australian miner Lindian Resources said on Wednesday, Dec. 10, that it now owns 100% of the Kangankunde rare earths project in Malawi after making a final $10 million payment to complete the acquisition.

Lindian agreed in 2022 to buy Rift Valley Resource Developments Ltd., which holds the Kangankunde licence, in a four-stage deal worth $30 million. The final instalment had been scheduled for July 2026, but the company said it chose to bring the payment forward to secure full ownership as project development accelerates.

“Achieving 100% ownership of Kangankunde marks another important milestone in Lindian’s journey,” Executive Chairman Robert Martin said. “With stage one construction advancing rapidly and stage two studies well under way, this consolidation provides full strategic and operational control as we move toward first production [...].”

Kangankunde is considered one of Africa’s most important rare earths developments and is expected to enter production by the end of 2026. Lindian approved the project’s final investment decision in August after securing $59 million in funding. The first phase is designed to produce 15,300 tons of rare earth concentrate per year, rising to 50,000 tons annually in a second phase now under study.

Full ownership gives Lindian control of a strategic asset at a time when efforts to diversify rare earth supplies outside China are intensifying. The company has already secured several offtake agreements, including a 15-year contract with Iluka Resources for 6,000 tons of concentrate per year.

Aurel Sèdjro Houenou