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Lindian Resources Limited (ASX:LIN)

ALERT: Price-sensitive ASX Announcement for LIN
Current share price for LIN : $0.695 -0.05 (-6.71%)+
Announcement
Release
7 May 2026 8:24AM
Price at Release
$0.745
Full Release
download
Summary
Lindian Resources Limited is progressing well with their Kangankunde Rare Earths Project in Malawi, which remains on schedule for its first production in Q4 2026. The construction activities span across major work fronts, and the project is supported by a recent A$100 million institutional placement ensuring full funding to production. Key developments include the completion of process plant civil works and the achievement of regulatory milestones. The project, which is strategically significant in global rare earth supply chains, has a planned capacity of 20,000 tonnes per annum and aims to deliver first ore to the ROM pad by June 2026.
Key Points
  • Construction activity for the Kangankunde Rare Earths Project is advancing across all major work fronts.
  • The project is on schedule for first production in Q4 2026, with front-end commissioning targeted for October 2026.
  • The project is fully funded to first production, following a A$100 million institutional placement.
  • Stage 1 process plant is designed for a 20,000 tonnes per annum nameplate concentrate capacity.
  • First ore delivery to the ROM pad is scheduled for June 2026, with mining commencing approximately six months ahead of Practical Completion.
  • Process plant civil works have commenced with key milestones such as shaking table base pours completed.
  • Regulatory milestones such as water and borehole approval and waste management approvals have been achieved.
  • Haul road and ROM pad development are progressing safely in line with the construction schedule.
  • Lindian Resources aims to become a significant critical minerals producer, with the Kangankunde Project being a cornerstone asset.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.