Mining & Trade News

ASX-listed Lindian Resources, which is conducting mine development works at Kangankunde Rare Earths Project in Balaka, says the project is on track to be the next rare earth producer.

Lindian CEO Alistair Staphens said this in his presentation at Malawi’s first ever Mining Investment Forum at Bingu International Convention Centre in Lilongwe.

Stephens explained that studies have indicated that Kangankunde is destined to become a rare earth market leader producing best-value, most cost-efficient rare earths concentrate.

He said the project will also be an environmentally sustainable producer of rare earths as studies have also proved that the product in non-radioactive.

Meanwhile, Lindian has announced final drill assay results for Kangankunde Rare Earths Project that show continuous high-grade mineralization at the site which includes;

❖ 80 metres @ 3.83% TREO from surface to EOH in KGKRC099

❖ 140 metres @ 3.20% TREO from surface to EOH in KGKRC096

❖ 100 metres @ 3.09% TREO from surface to EOH in KGKRC097

❖ 80 metres @ 2.72% TREO from surface to EOH in KGKRC109

❖ 150 metres @ 2.62% TREO from surface to EOH in KGKRC093 including, o 90 metres @ 3.54% TREO from 58 metres

❖ 150 metres @ 2.60% TREO from surface to EOH in KGKRC098 including, o 21 metres @ 4.49% TREO from surface, and o 66 metres @ 3.20% TREO from 70 metres.

Stephens explained in a Press Statement that the average grade of rare earths critical metal elements neodymium-praseodymium (NdPr) remains consistent at ~20% of Total Rare Earth Ore (TREO) with grades of up to 23.5% TREO recorded.

He said: “Assays for the Phase 3 drill program are now finalised. Lindian’s technical team has completed more than 20.7 kms of drilling at Kangankunde in less than 15 months to define what is one of world’s best rare earths deposits with excellent grade, non-radioactive material, a high NdPr ratio and enormous scale.”

“Our technical team is to be congratulated for their efforts. We will soon report an updated Mineral Resource Estimate that includes the Indicated component of the Resource as well as an Ore Reserve Estimation which is another meaningful benchmark to assess the project’s unlocked value. Following this will be further updates on mine development capital expenditures (capex) and operating expenditures (opex) prior to the release of the Feasibility Study this quarter.”

Lindian’s Executive Chairman Asimwe Kabunga explained that Kangankunde’s project developmnent continues to advance very rapidly with multiple workstreams advancing concurrently.

 “We can commence construction in the coming months. Interest in the asset continues to build from a broad number of interested parties with many keenly awaiting our Feasibility Study. We are confident it will showcase the project’s compelling economics,” he said.

In August 2023, Lindian announced its maiden Mineral Resource Estimate (MRE) for the Kangankunde Rare Earths Project of 261 million tonnes averaging 2.19% TREO above a 0.5% TREO cut-off grade.

The infill holes reported are designed to provide sufficient data to increase the confidence level of a portion of the MRE to Indicated status.

The data from all the Phase 3 drilling is currently being used to update the resource model which will be applied to detail mine design and scheduling and Ore Reserve Estimation.

The areas which were targeted by the Phase 3 infill program are those considered most likely to define initial feed for operation of the Stage 1 Processing facility. These are; the northern area of the central carbonatite complex, the western area of the central carbonatite complex; and the south-eastern area of the central carbonatite complex.

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