Lindian Resources (ASX:LIN) is adamant the Republic of Malawi’s latest restrictions on any raw mineral exports won’t impact Kangankunde production, with how the explorer processes its minerals “within the laws.”
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“Lindian has always and will continue to operate within the laws of the country wherever it is carrying out its mining activities,” the company wrote.
The explorer’s operations fall under exemptions outlined in the President’s Executive Order No.2 delivered in Malawi this year, under Section 3: “Processed, refined, or value-added” minerals are exempt under the law.
Lindian has been speaking to the Malawi government, too, to make sure it’s aware the company is processing the minerals it takes out of the region.
“All in all, Lindian holds the view that the pronouncements by the country’s leadership was made in good faith and for the good of the country, and will continue to work with the Government of Malawi and their mining industry.”
Kangankunde lies in southern Malawi and has long been a cornerstone project for the Australian explorer; it’s been described as one of the largest and most promising underdeveloped rare earth deposits globally.
In recent months, Lindian has tipped Kangankunde to eventually produce a premium monazite concentrate that grades 55% Total Rare Earth Oxides.
Lindian is well on its way to having the Malawi project fully firing, too: It already has several key licensing bargains in place and has been approved to start construction. Those early-stage works started a little earlier this year. The project is already fully funded after an institutional $91.5 million placement.
Lindian also recently partnered with Iluka Resources (ASX:ILU) in August.
Heading into Monday trade, LIN shares are at 37c each.
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