ASX-listed Lindian Resources has made “excellent” progress this year on mine development operations and the commissioning of the Stage 1 processing plant at the Kangankunde rare earths project in Malawi, executive chairperson Asimwe Kabunga says.
Achievements this year are said to have established the base of project development in 2024.
Stage 3 drilling has been completed to define an indicated resource category, with assays pending.
Simplification and optimisation of metallurgical flowsheet has been undertaken.
A trial mining campaign is under assessment, while a mine geotechnical study programme has started.
A civil works tender submissions has been received with the contract award expected in the first quarter of next year.
The process plant tender package is being finalised for issue.
A resource model update and detailed mine design and mine schedule is expected to be completed in the first quarter of next year.
The feasibility study is also on track to be completed and released in the same period, while the water extraction licence application is in progress.
Negotiations for project funding and pre-sale and offtake agreements are ongoing.
“We have achieved a considerable amount in a very short timeframe since we secured the project only 16 months ago. We expect a similar pace of development in calendar year 2024 with a number of key value accretive milestones to be reported in the first quarter.
“Lindian is well-funded with plenty of flexibility and industry interest to deliver on our objective of rapidly bringing the project into production. Kangankunde is a hugely valuable rare earths project of global significance and this will become more evident as we deliver on our stated objectives in the near-term,” Kabunga says.
“The progress of site development is advancing well. We expect a steady flow of mine development updates including an updated resource statement, mine designs and material scheduling, and firm quotations for all processing plant and associated infrastructure costs to be progressively reported from early in the new year leading to our feasibility study in the first quarter of calendar 2024.
“The fact that the requisite licences are in place, with continued strong support from the Malawian government and the local community, means we are on track for development next year. Lindian is making great progress with our low capital expenditure Stage 1 plant that will produce unique non-radioactive rare earths concentrate,” says CEO Alistair Stephens.