Lindian Completes Final US$10M Payment, Gains 100% Ownership of Kangankunde
Lindian Resources has completed its final payment to acquire 100% ownership of the Kangankunde Rare Earths Project in Malawi, accelerating its path to production and consolidating control over one of the world’s highest-grade rare earth deposits.
- Final US$10 million tranche payment completed early
- Ownership of Rift Valley Resource Developments Limited increased from 67% to 100%
- Full legal and beneficial control of Kangankunde Project secured
- Stage 1 construction advancing rapidly with Stage 2 studies underway
- Strategic partnership with Iluka Resources supports funding and offtake
Full Ownership Achieved Ahead of Schedule
Lindian Resources Limited (ASX, LIN) has taken a decisive step in its rare earths ambitions by completing the final US$10 million tranche payment to fully acquire Rift Valley Resource Developments Limited (RVRD), the Malawian entity holding the Kangankunde Rare Earths Project. This early completion moves Lindian’s stake from 67% to 100%, granting the company full legal and operational control over one of the world’s largest and highest-grade rare earth deposits.
Strategic Implications for Project Development
The Kangankunde Project is a cornerstone asset for Lindian, offering a premium monazite concentrate with a 55% total rare earth oxides grade and operating costs among the lowest globally. By consolidating ownership ahead of the original schedule, where the final tranche was due upon commercial production or by mid-2026, Lindian streamlines decision-making and aligns all operational entities under one umbrella. This is particularly timely as Stage 1 construction progresses rapidly and Stage 2 feasibility studies advance.
Backing from Strategic Partnerships and Funding
Lindian’s confidence in accelerating ownership is underpinned by a strong strategic partnership with Iluka Resources Ltd, which provides both funding and offtake support. The company recently secured A$91.5 million through an institutional placement, enabling the Final Investment Decision for Stage 1 and ensuring the project is fully funded. These developments position Lindian well to capitalize on growing global demand for critical rare earth elements, essential for technologies such as electric vehicles and renewable energy infrastructure.
Looking Ahead
With all key licenses and approvals in place, and community and government support secured, Lindian is poised to transition Kangankunde from development to production. The company’s executive chairman, Robert Martin, highlighted that full ownership provides clear strategic and operational control, a vital factor as the project moves closer to first production. Investors will be watching closely for updates on construction milestones and production timelines as Lindian advances its rare earths ambitions.
Bottom Line?
Lindian’s early consolidation of Kangankunde ownership sets the stage for accelerated development and market positioning in the critical minerals sector.
Questions in the middle?
- How will full ownership impact Lindian’s production timeline and cost structure?
- What are the next key milestones for Kangankunde’s Stage 1 and Stage 2 development?
- How might Lindian leverage its partnership with Iluka Resources to expand market reach?
