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The latest announcement is out from AuKing Mining Ltd ( (AU:AKN) ).
AuKing Mining has agreed to acquire 100% of the Tundulu Rare Earth Elements Project in south-eastern Malawi, a 91.5 square kilometre carbonatite complex regarded as one of the country’s largest and least explored rare earth systems. The project hosts extensive carbonatite and apatite mineralisation across multiple hills, with historical drilling and rock-chip sampling indicating high-grade total rare earth oxides and significant phosphate, and mineralisation remaining open in several directions.
Located near other major Malawi rare earth developments, Tundulu appears enriched in valuable heavy and medium rare earth elements with relatively low radioactive contaminants, enhancing its strategic appeal. AuKing plans to launch modern, REE-focused exploration and an initial drilling campaign soon after completion of the acquisition, aiming to define a maiden mineral resource within 12 months, which could materially strengthen its critical minerals portfolio and regional footprint.
More about AuKing Mining Ltd
AuKing Mining Limited is an Australian-listed resources company focused on critical minerals exploration and development. The company is expanding its portfolio beyond traditional commodities by targeting high-grade rare earth element projects in emerging African mining jurisdictions, positioning itself to benefit from growing global demand for strategic REEs used in advanced technologies and energy transition supply chains.
Average Trading Volume: 5,237,820
Technical Sentiment Signal: Sell
Current Market Cap: A$32.56M
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