Latest news with #Kangankunde
News.com.au
06-08-2025
- Business
- News.com.au
Resources Top 5: Lindian partners with REE major Iluka for Kangankunde
Partnership for Kangankunde REE project funding and offtake High-grade niobium is emerging as a significant contributor to the Kameelburg project Exceptional rock chip sampling results have been returned from Central Otavi project Your standout small cap resources stocks for Wednesday, August 6, 2025 Lindian Resources (ASX:LIN) A strategic partnership has strengthened the standing of the Kangankunde project as one of the world's most attractive and advanced rare earth projects and represents a win-win for partners Lindian Resources (ASX:LIN) and Iluka Resources (ASX:ILU) as well as for Malawi and Australia. The partnership incorporates a binding loan term sheet of US$20 million (~$32m) and full-form offtake agreement with Iluka and has seen Lindian reach 15c, a 59.6% improvement on the previous close with more than 38m shares changing hands. Iluka will provide a cornerstone US$20m Construction Term Loan Facility over a five-year tenor while the 15-year strategic partnership will provide Iluka with offtake of 90,000 tonnes (6,000tpa) of rare earth monazite concentrate from Lindian's Kangankunde project until a total of 9,600dmt of contained neodymium and praseodymium has been delivered. The concentrate will feed Iluka's fully integrated Eneabba Rare Earths Refinery Facility in Western Australia, which is partly funded by the Australian government. Iluka will also be granted a right of first refusal (ROFR) for the phase 2 Kangankunde production expansion for up to a further 375,000 tonnes (25,000tpa for 15 years), subject to Iluka providing a 50% debt funding offer for the expansion capital cost and agreeing to Lindian's revised commercial terms (such as pricing mechanisms). This provides a strong foundation for additional growth and aligns with establishing WA as a strategic hub for the downstream processing of third-party rare-earth feedstocks. The binding strategic partnership with Iluka provides a credible pathway forward for the development of Kangankunde, whilst delivering long-term contracted revenue. Kangankunde will produce a premium monazite concentrate over a long initial Life of Mine (LoM) of 45 years, based on JORC ore reserves. 'This is a pivotal milestone for Lindian and is a major step towards accelerating the development of Lindian's globally significant Kangankunde rare earths project in Malawi,' Lindian executive chairman Robert Martin said. 'These agreements will provide a multi-decade source of feed for Iluka's Eneabba refinery facility in Western Australia, backed by the Australian government. The floor price protection, no financial ratio covenants and offtake-linked terms are fit-for-purpose for the company, ensuring the long-term interests of shareholders are enhanced.' Aldoro Resources (ASX:ARN) The world-class rare earth element credentials of the Kameelburg project in Namibia continue to be enhanced by Aldoro Resources with high-grade niobium emerging as a significant contributor. Assays have extended known REE and niobium mineralisation to ~1100m along a NW-SE orientation and demonstrate continuity and scale. Diamond holes DD005B and DD008A encountered significant mineralisation throughout the entire drill core with the former extending the mineralised zone by 400m. Hole DD005B was drilled to a depth of 399m and intersected a combined 102.8m zone of REE dominant mineralisation grading 2% total rare earth oxides, 0.18% niobium pentoxide and 203ppm molybdenum in the upper layer and 206.6m at 0.76% TREO, 0.43% Nb2O5 and 52ppm Mo in the lower niobium dominant layer. This included a top result of 4.14% Nb2O5. Hole DD008A returned 200.5m at 1.64% TREO, 0.177% Nb2O5 and 349ppm Mo in the upper layer and 75.6m at 0.61% TREO, 0.165% Nb2O5 and 233ppm Mo in the lower layer. Results will be included in an updated resource estimate that Aldoro Resources expects to release later in August. This is likely to be a significant improvement to the maiden resource of almost 280Mt at 2.45% TREO equivalent announced earlier this week. 'Diamond holes DD005B & DD008A continue to demonstrate the continuity and scale of the Kameelburg deposit, and we are comfortable these two holes will add significant tonnage and grade to the updated mineral resource estimate encompassing all holes drilled in the phase I program,' chairperson Quinn Li said. 'In addition, the high-grade niobium mineralisation intersected by DD005B provides further support of our internal model that the occurrence of a deeper high-grade zone of mineralisation to the west of the carbonatite represents an exciting area that warrants further exploration when our larger diamond rigs arrive in September.' Once Kameelburg drilling is completed, ARN will mobilise the rig to drill the Omuronga Carbonatite. Golden Deeps (ASX:GED) Exceptional rock chip sampling results for copper, zinc, silver and lead with high-grade germanium and highly anomalous antimony from the Central Otavi project in Namibia saw Golden Deeps hit 2.9c, an increase of 32% on the previous close. Grades of up to 38.3% Cu, 35.4% Zn; 2,473 g/t Ag and 97 g/t Ge were returned from sampling of strongly mineralised gossans (oxidised sulphide) and sulphide occurrences within a 1km x 800m area. Trenching and channel sampling of the key gossan and sulphide outcrops is underway in conjunction with further soil and rock chip sampling in extensions of this large system. Geophysical programs, including IP surveys, will be carried out to detect Cu, Zn, Pb, Ag sulphide targets within the gossan corridors, to be followed by drill testing as soon as possible. 'The identification of these outcropping oxidised sulphide gossans – and the spectacular grades of copper, zinc, silver and lead, with high-grade germanium and highly anomalous antimony, over such a widespread area – clearly demonstrates the potential for substantial, high-grade mineralised sulphide discoveries in multiple zones,' Golden Deeps CEO Jon Dugdale said. Albion Resources (ASX:ALB) Albion Resources has kicked off the second phase of its RC drilling program at the Yandal West Project in the highly-prospective Yandal Greenstone Belt of Western Australia. The new program will cover around 1700m and target multiple high-priority gold prospects. These include the Collavilla Historical Workings target where outcropping shallow mineralised quartz veins have delivered high-grade historical results. This new drilling aims to step out from there, toward the greenstone contact. Another target is Collavilla East, which contains a chargeability anomaly extending to around 300m deep near known mineralisation. At Barwidgee Central target drilling will follow up on historic intercepts, testing mineralisation and anomalous surface geochemistry and geophysical targets. Also on the drilling schedule are targets across the broader Ives Find area and the May Queen prospect. Waratah Minerals (ASX:WTM) The word is out about the gold potential of Waratah Minerals Spur project southwest of Orange in NSW and in proximity to the massive Cadia Valley gold and copper operations of Newmont with shares rising for a third consecutive day. The $107m company hit a new four-year high of 60c, an increase of 14c or 30.5% on the July 5 close and double the close of 30c on Friday, August 1. These increases were sparked by drilling results released on July 4 that have enhanced confidence in the project's potential to host a large-scale, high-grade epithermal gold system with plenty of upside along the rapidly emerging Spur Gold Corridor.
West Australian
06-08-2025
- Business
- West Australian
Iluka backs Lindian rare earths play in Malawi with $32M
An African rare earths developer has pulled off the deal of the week to become the talk of the town, as wheelers and dealers descended on the gold mecca of Kalgoorlie for the annual Diggers and Dealers conference. Emerging junior Lindian Resources has unveiled a multi-pronged, multi-million-dollar major offtake agreement, cornerstone funding and strategic partnership with global critical minerals heavyweight Iluka Resources to push its world-class Kangankunde project in Malawi towards first production. The seismic deal for the company cements Kangankunde as one of the pre-eminent rare earths developments on the planet, as Iluka scrambles to lock in its strategic rare earths supply for Australia's future. The news has set the market abuzz with Lindian's share price soaring by as much as 60 per cent in early trading this morning, as investors piled into the stock on the back of the US$20 million (A$32 million) partnership. Under the agreement, Iluka will front a US$20 million construction loan, accompanied by a 15-year offtake deal for 90,000 tonnes of Kangankunde's premium monazite concentrate, weighing in at a stellar 55 per cent total rare earth oxides (TREO). The concentrate is almost 20 per cent high-value neodymium and praseodymium (NdPr) rare earths, which are critical for electric vehicle motors and renewable energy technologies. Lindian is now firmly plugged into the Western world's push for a secure, non-Chinese rare earths supply chain. The project's hefty 261-million-tonne resource grading some 2.19 per cent TREO with an ore reserve at a higher 2.9 per cent, had the company firmly on the radar of global players such as Iluka. The Australian producer has now jumped to lock in the emerging Lindian, as the federal government moves to replicate the United States and set a floor price for local rare earths production. Kangankunde is well on its way to stage 1 production, in which the project is set to churn out 15,300t of concentrate annually, including 1600t of NdPr, over an uncapped 45-year mine life. And that's just the start. With a pre-production capex of just US$40 million (A$64 million) and operating costs of US$2.92 per kilogram of rare earth oxides, the project sits in the lowest cost quartile globally. Even at today's depressed rare earths prices, Lindian's feasibility study projects a pre-tax net present value of US$794 million (A$1.225 billion) and an internal rate of return of 99 per cent to give a one-year payback. The Iluka partnership looks like a masterstroke for both parties. The offtake locks in 6000t per annum of feed for Iluka's Eneabba rare earths refinery in Western Australia - Australia's first fully integrated, government-backed rare earths facility, slated for commissioning in 2027. The pricing will be tied to Eneabba's realised NdPr oxide prices, offering a floor price likely to dwarf Kangankunde's already profitable production cost. If Iluka secures government price support, Lindian will get a slice of that upside too. It also has a right of first refusal clause in the deal for an additional 9600t of NdPr after the initial offtake and up to 25,000t per annum for a phase two expansion at Kangankunde, provided Iluka funds 50 per cent of the expansion capex. Lindian says a stage 2 expansion would potentially triple output down the line, using the same low-risk gravity-magnetic flowsheet that makes the mining so simple. The project impressively requires no flotation, no reagents, no waste dams and has a negligible stripping ratio of 0.2. Iluka's US$20 million secured term loan comes with a five-year tenor at a 9.7 per cent average interest margin, with no financial covenants or penalties for early repayment. Lindian can also raise an additional US$7 million working capital facility, giving it the flexibility to fully fund Kangankunde's Stage 1 build. First production is targeted for 2026. The deal doesn't just de-risk Stage 1 - it lays a rock-solid foundation for growth. Iluka's terms for Stage 2 funding signal confidence in Kangankunde's scalability. With a 45-year mine life, a flowsheet that's as simple as it gets and a partnership to supply Australia's critical minerals strategy for the foreseeable future, Lindian is no longer just a junior with potential - it's emerging a serious future cornerstone in the global rare earths race. Is your ASX-listed company doing something interesting? Contact:
Sydney Morning Herald
06-08-2025
- Business
- Sydney Morning Herald
Iluka backs Lindian rare earths play in Malawi with $32M
An African rare earths developer has pulled off the deal of the week to become the talk of the town, as wheelers and dealers descended on the gold mecca of Kalgoorlie for the annual Diggers and Dealers conference. Emerging junior Lindian Resources has unveiled a multi-pronged, multi-million-dollar major offtake agreement, cornerstone funding and strategic partnership with global critical minerals heavyweight Iluka Resources to push its world-class Kangankunde project in Malawi towards first production. The seismic deal for the company cements Kangankunde as one of the pre-eminent rare earths developments on the planet, as Iluka scrambles to lock in its strategic rare earths supply for Australia's future. The news has set the market abuzz with Lindian's share price soaring by as much as 60 per cent in early trading this morning, as investors piled into the stock on the back of the US$20 million (A$32 million) partnership. Under the agreement, Iluka will front a US$20 million construction loan, accompanied by a 15-year offtake deal for 90,000 tonnes of Kangankunde's premium monazite concentrate, weighing in at a stellar 55 per cent total rare earth oxides (TREO). 'The funding and offtake agreements represent a major de-risking milestone for Stage 1 of our Kangankunde rare earths project, providing increased confidence for all our stakeholders by showing a clear pathway to production.' Lindian Resources executive chairman Robert Martin The concentrate is almost 20 per cent high-value neodymium and praseodymium (NdPr) rare earths, which are critical for electric vehicle motors and renewable energy technologies. Lindian is now firmly plugged into the Western world's push for a secure, non-Chinese rare earths supply chain. The project's hefty 261-million-tonne resource grading some 2.19 per cent TREO with an ore reserve at a higher 2.9 per cent, had the company firmly on the radar of global players such as Iluka. The Australian producer has now jumped to lock in the emerging Lindian, as the federal government moves to replicate the United States and set a floor price for local rare earths production.
The Age
06-08-2025
- Business
- The Age
Iluka backs Lindian rare earths play in Malawi with $32M
An African rare earths developer has pulled off the deal of the week to become the talk of the town, as wheelers and dealers descended on the gold mecca of Kalgoorlie for the annual Diggers and Dealers conference. Emerging junior Lindian Resources has unveiled a multi-pronged, multi-million-dollar major offtake agreement, cornerstone funding and strategic partnership with global critical minerals heavyweight Iluka Resources to push its world-class Kangankunde project in Malawi towards first production. The seismic deal for the company cements Kangankunde as one of the pre-eminent rare earths developments on the planet, as Iluka scrambles to lock in its strategic rare earths supply for Australia's future. The news has set the market abuzz with Lindian's share price soaring by as much as 60 per cent in early trading this morning, as investors piled into the stock on the back of the US$20 million (A$32 million) partnership. Under the agreement, Iluka will front a US$20 million construction loan, accompanied by a 15-year offtake deal for 90,000 tonnes of Kangankunde's premium monazite concentrate, weighing in at a stellar 55 per cent total rare earth oxides (TREO). 'The funding and offtake agreements represent a major de-risking milestone for Stage 1 of our Kangankunde rare earths project, providing increased confidence for all our stakeholders by showing a clear pathway to production.' Lindian Resources executive chairman Robert Martin The concentrate is almost 20 per cent high-value neodymium and praseodymium (NdPr) rare earths, which are critical for electric vehicle motors and renewable energy technologies. Lindian is now firmly plugged into the Western world's push for a secure, non-Chinese rare earths supply chain. The project's hefty 261-million-tonne resource grading some 2.19 per cent TREO with an ore reserve at a higher 2.9 per cent, had the company firmly on the radar of global players such as Iluka. The Australian producer has now jumped to lock in the emerging Lindian, as the federal government moves to replicate the United States and set a floor price for local rare earths production.
West Australian
28-05-2025
- Business
- West Australian
Lindian readies Kangankunde rare earths juggernaut with build, funding and offtake wheels turning
You don't see a lot of ASX juniors managing to simultaneously attract a global offtake partner, two funding suitors and a major contractor — all while already partway into site construction. But that's exactly where Lindian Resources finds itself as it barrels towards development of its massive Kangankunde rare earths project in project isn't just shaping up to be big — it's shaping up to be rare earth monazite concentrate clocks in at 55 per cent total rare earth oxides, with little to no deleterious elements, almost no uranium or thorium and low iron — giving it an almost freakish level of purity that opens doors most others can't unlock. That means access to high-paying Western buyers who simply can't — or won't — touch concentrates with high radioactivity or impurity purity, combined with scale, grade and simplicity, is putting Lindian firmly on the radar of end users, financiers and fund managers project boasts a whopping JORC-compliant resource of 261 million tonnes going 2.19 per cent TREO and an ore reserve of 23 million tonnes. That reserve grade comes in at an impressive 2.9 per cent TREO and importantly, almost 20 per cent of that is the more lucrative magnet rare earths used in electric motors, neodymium and praseodymium. All that is expected to bring about more than 15,000 tonnes a year of contained rare earths concentrate, of which 1,600 tonnes per annum will be sought-after neodymium and praseodymium. Two standout diamond drill holes — one going a crazy 920m at 2.6 per cent TREO and another stretching 910m at 2.9 per cent TREO — underscore the deposit's extraordinary vertical consistency and underline its almost non-existent stripping ratio of just company has already locked in a US$50 million offtake and funding term sheet with global commodities house Gerald Group, giving Gerald rights over all Stage 1 production and a partial look at Stage 2. And while that agreement remains in play, the board is also fielding multiple alternative offers — including a US$30 million senior secured loan from pan-African lender Ecobank and a Nordic-style bond package from a European investment bank. Several offtake prepayment proposals are also under says it will shortlist the preferred funding option in the coming weeks as it finalises its mining development agreement with the Malawian Government and heads towards a final investment decision. Stage 1 is scheduled for first production in 2026, with the aim of capturing early cashflow while the global NdPr magnet supply chain looks for diversification outside the numbers stack capex for the 45-year project – and that's just stage 1 - is estimated to be a miserly US$40 million, with opex of US$2.92/kg REO putting it in the lowest cost quartile globally. In fact, Lindian says it will still wash its face with about US$11m in EBITDA a year even at today's depressed rare earths prices, which are generally expected to head north as the market tightens. Notably, independent market research group Project Blue says it expects rare earths pricing to range between US$50kg and US$115kg. When using a scaled range of this pricing forecast, Lindian says the project will earn its pants off with a pre-tax NPV of US$794 million and an IRR of 99 per cent. The company has modeled an annual EBITDA in the first five years of US$57m a year and an average over the entire life of mine of US$83m a year – not bad for a project expected to cost around US$40m to build. And with drill intersections mineralised all the way down to about 1km it is perhaps no surprise that Lindian says the project has an intergenerational 45-year mine life. It's a textbook case of mining made simple too. The flowsheet is gravity and magnetic only — no flotation, no reagents, no waste dams. Ore is trucked just 2km from pit to ROM pad and processed into a saleable monazite concentrate — making for fast permitting, low environmental impact and minimal technical risk. One reason for the super low cost to produce is the almost non-existent stripping ratio at the project, which clocks in at just that simplicity has already started to show on the began in February with Portuguese infrastructure heavyweight Mota-Engil winning a US$1.3m contract to build the 5km site access road. That work is now ahead of schedule and under budget. Lindian has since completed clearing for the processing plant, product storage areas, ROM pad and security fencing. It's also refurbished the onsite admin centre and built a new community police than 70 per cent of site-based roles are already filled by local Malawians, with the company rolling out training programs to deepen workforce capacity ahead of production. New site leadership and technical appointments — including project director Daniel Britz and finance chief Teck Lim — have strengthened the execution most significantly, testwork is already underway with ANSTO — Australia's national nuclear and critical minerals laboratory — to produce a mixed rare earth carbonate (MREC) product from Kangankunde concentrate using both acid bake and caustic cracking flowsheets. The goal is to lock in product specifications, enable certificates of analysis, and unlock binding offtake MREC route would allow Lindian to push further downstream and claim more value, while the concentrate's ultra-low Actinium-227 levels would avoid the radioactive penalty pricing or outright rejection that dogs many Chinese and African monazite an edge few other REE juniors can Lindian has now completed an optimised feasibility study — incorporating updated plant design, equipment quotes, mine scheduling and tailings options — and is finalising negotiations with three shortlisted EPC contractors. A D&C contract award is expected as soon as funding is locked company has also begun converting exploration tenements surrounding the main mining lease into full mining licences — paving the way for a Stage 2 expansion, which could triple output using the same gravity several clay-hosted rare earths hopefuls on the ASX chase lower-grade ionic mineralisation, Lindian's Kangankunde stands alone for its combination of grade, thickness and simplicity — and in a hard rock setting, no executive chairman Robert Martin says the interest from financiers and offtakers is a sign the market sees the difference Kangankunde brings. 'We're seeing the calibre of groups approaching us go up dramatically — not just in terms of financing offers, but also potential downstream partners. The project's purity, simplicity and economics are hard to ignore.' There's still work to do before Lindian joins the rare earths producers' club — but few juniors in recent years have made it to this point with the funding, construction, product and political wheels all moving in unison - Kangankunde just might. Is your ASX-listed company doing something interesting? Contact:
