Lindian Resources says Kangankunde is world’s largest REO deposit
Melbourne, Victoria
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October 05, 2023 12:30 PM Eastern Daylight Time
Lindian Resources Ltd (ASX:LIN, OTC:LINIF) CEO Alistair Stephens tells Proactive about a just-released exploration target for the Kangankunde Rare Earths Project which, together with the recently published mineral resource estimate, establishes the project as one of the world’s largest rare earths projects. The Exploration Target is between 400 million tonnes to 800 million tonnes, grading between 2.0% and 2.7% TREO. He says it firmly positions Lindian as a major player in the industry with an asset that is fully permitted, licensed for production and has very strong government and community support.
Executive Chairman Asimwe Kabunga commented: “This Exploration Target is a defining event for Lindian and for Malawi. While our MRE is itself outstanding, the Exploration Target demonstrates the potential for the Kangankunde project to grow significantly with further exploration activity and, is without a doubt, one of the world’s largest rare earths deposits and an asset that is expected to have a material impact on the rare earths sector globally. It firmly positions Lindian as a major player in the industry with an asset that is fully permitted, licensed for production and enjoying very strong Government and Community support. We believe Kangankunde is highly attractive to potential off-takers for its ability to provide long term consistent product supply.
Further, we are making excellent progress for bringing our Stage 1 mining and processing operation online in late 2024 backed with a strong cash balance.”
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Proactive Investors
Jonathan Jackson
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