Lindian Resources Secures $50M Funding for Malawi Project

Lindian Resources Limited (AU:LIN) has released an update.

Lindian Resources Limited has signed a non-binding agreement with Gerald Group for a $50 million funding package to advance the development of its Kangankunde Rare Earths Project in Malawi. This funding will support the project’s Phase 1 capital and operational expenditures, with Gerald gaining offtake rights for the produced monazite concentrate. The partnership aims to expedite the project’s development, with construction anticipated to begin in the first half of 2025.

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