Lindian Resources Secures A$1.65M Funding Boost, Advances Construction at Kangankunde Project

Lindian Resources has secured A$1.65 million in funding through option conversions and a government tax incentive refund. The company is advancing development work at its Kangankunde Rare Earths Project in Malawi, with construction of haul roads and infrastructure underway. Lindian is also set to award contracts for mining operations, power infrastructure, and the processing plant in the coming weeks.

Lindian Resources Limited has secured A$1.65 million in funding through option conversions and a government tax incentive refund. This financial boost has enabled the company to accelerate development work at its Kangankunde Rare Earths Project in Malawi. The project, which aims to extract rare earths, has seen significant progress with construction of haul roads and infrastructure well underway [1].

Key developments at the project include the commencement of solar farm works and the initiation of site security compound construction. The solar farm, set to provide a reliable and sustainable power source, is expected to reduce dependence on diesel generation. Additionally, the security compound, which includes fencing and perimeter controls, is designed to ensure the safety of personnel and protect critical equipment as activity on site increases [1].

Lindian is also set to award several crucial contracts in the coming weeks. These include the design and construct contract, the power infrastructure contract, and the mining contract. The mining contract award is currently under review, with three preferred tenderers shortlisted. Similarly, the power infrastructure contract award is also under review, with three preferred tenderers shortlisted [1].

The company's progress is notable, with the process plant area fully cleared and the main access road to the site ahead of schedule. These advancements position the project for a smooth transition into the next phase of development. The construction of haul roads for Pit 1 and Pit 2 is currently underway, further solidifying Lindian's commitment to timely project delivery [1].

References:
[1] https://www.marketscreener.com/quote/stock/LINDIAN-RESOURCES-LIMITED-10354787/news/Lindian-Resources-Limited-Provides-Update-on-Development-of-its-Kangankunde-Rare-Earths-Project-in-M-50166336/