Lindian Resources has secured firm commitments for a A$91.5M placement, paving the way for construction at its Kangankunde Rare Earths Project in Malawi.
The two-tranche raise, backed by strong demand from Australian and offshore investors, will fully fund Stage 1 development through to first production in late 2026.
It follows Lindian’s strategic partnership with Iluka Resources, which includes a twenty-million US dollar construction loan and a 15-year binding offtake agreement.
Lindian's executive chairman Robert Martin said: "The demand at a large premium to our VWAPs, and the quality of the investor base attracted, confirms to the market the support and understanding that our Tier 1 Kangankunde Rare Earths Project now has in the global investment community".
Proceeds from the placement will also support Lindian’s move to full ownership of the project, completion of Stage 2 engineering, and infrastructure for future expansion.
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