Lindian Resources Limited, operator of the Kangankunde Rare Earths Project in Balaka District, has said progress is on track for commissioning in October with construction advancing across all major work fronts.
In its latest update posted on Australian Securities Exchange, the miner reaffirmed its projection of first production in the fourth quarter of 2026, a milestone that will see Malawi host two significant mining ventures by year end.
The firm has reported strong progress on the process plant, non process infrastructure and mining activities.
Reads the update in part: “Process plant civil works have commenced, with civil works well underway.
“The project remains on schedule for first production in Q4 2026, with front-end commissioning targeted for October 2026 and practical completion targeted for mid-November 2026.”
Lindian Resources Limited executive director Zac Komur is quoted in the update as having said that the project continues to demonstrate “strong execution momentum”.
He said the commencement of civil works, progress on the haul road and advancement of the electrical programme are key milestones in the project implementation.
“The team remains focused on safe delivery, disciplined execution and ensuring the project is operationally ready ahead of commissioning,” he said.
Earlier this year, Lindian Resources Limited secured $100 million (about K180 billion) to fund Kangankunde, strengthening Malawi’s position as an emerging player in the global rare earths market.
The financing plan, through the sale of 133.33 million shares to Australian and offshore investors at $0.75 (K1 350) per share, allows for debt-free development, with stage one costs covered and future expansion to be funded from cash flows.
Industry experts have welcomed the progress with Chamber of Mines and Energy national coordinator Grain Malunga saying the project’s success reflects a decade of development. “It is pleasing that they will soon start generating foreign exchange for the country,” he noted.
On his part, geoscience expert Ignatius Kamwanje described Kangankunde’s deposits as among the highest quality globally, positioning Lindian as a strategic supplier of rare earths.
Malawi’s entry into rare earth production is expected to diversify the global supply chain, reducing dependence on China and strengthening Africa’s mineral sector as the United States and Europe seek alternative sources.
Kangankunde’s high grade deposits of dysprosium and terbium are critical for electric vehicle magnets and renewable energy technologies.
When operational, the Kangankunde Mine is projected to generate $114 million (about K205.2 billion) per year over 40 years according to a feasibility study report released by the company this year.
The mine’s output is expected to increase from 15 000 metric tonnes (MT) to 50 000 MT annually.
From the operations, the Malawi Government is expected to earn $5.56 million (about K10.08 billion) in royalties, in addition to income tax and other revenues from rare earth minerals.
