Kangankunde Mine CEO touts its mineral resource
Lindian Resources Limited, an Australian Stock Exchange-listed mining firm, says the Kangankunde Rare Earth Mine in Balaka is one of the most unique rare earth mines in the world because it is non-radioactive.
Speaking during a visit to the mine by Balaka District Council officials last week, the miner’s chief executive officer Alistair Stephens said most rare earth mines have some radioactivity going on such as uranium mines.
He said the mine has high quality and high purity minerals such as monazite, which can be sold widely across the globe as a premium product.
Said Stephens: “When we commenced diamond drilling, which is drilling using diamond bits last November, the idea was to understand the grade and nature of mineralisation of the rare earth and the results show we have a genuine mining prospect for the next 100 years.”
He said they invested $5 million (about K5.1 billion) in the drilling exercise, but added that in the first phase of the mining, the firm will invest $25 million (about K26 billion), creating jobs for 70 people.
Balaka District Council chief planning officer Edgar Chihana said they wanted to appreciate the mine’s progress since Lindian Resources Limited made a presentation to the full council and district executive committee last year.
He said: “We have hosted several investors in the mining industry who have not been honest enough and not developed any mining site.
“We are pleased that Lindian Resources Limited is making progressive development of the Kangankunde Rare Earth Mine.
Balaka Civil Society Organisations Network chairperson John Bamusi said companies interested in mining should be guided by the Minerals and Mining Act, which outlines how government and communities should benefit from any mining activity.
He hailed the firm for abiding by internationally accepted ethical mining standards that also profit the local communities. Lindian Resources Limited has world class rare earths and bauxite assets critical to electronic vehicles and a range of other industries, including electronic infrastructure, solar panels and rechargeable batteries.
