The pre-tax internal rate of return has also jumped from 99 per cent to 142 per cent, highlighting Kangankunde’s status as a globally competitive rare earths development.
Kangankunde lies 90 kilometres north of Malawi’s commercial hub of Blantyre and is widely recognised for its scale, high-grade mineralisation and an absence of radioactive elements. Stage one is forecast to produce a premium 55 per cent total rare earth oxide monazite concentrate, positioning the project in the lowest quartile of the global cost curve.
Lindian Resources executive director Zac Komur said. “The optimisation work in the process infrastructure, giving Lindian the ability to substantially increase stage 1 concentrate production, is a notable achievement in the project.”
Operating costs have also been lowered as a result of the company’s decision to adopt an owner-operator mining model, which is expected to cut mining costs by about 30 per cent. Average annual revenue is now estimated at A$228.9 million, reflecting higher production volumes and the premium nature of the concentrate.
Despite the enhanced design, stage one pre-production capital costs remain within 10 per cent of the feasibility estimate and inside Lindian’s existing US$40 million (A$60M) funding envelope. Long-lead items have already been procured, early works are progressing and the project schedule remains intact, with first production targeted for the fourth quarter of 2026.
With a 261 million tonne resource at 2.19 per cent total rare earth oxides (TREO) and strategic backing from Iluka Resources, Lindian has now paired strong economics with execution certainty – positioning Kangankunde as one of the world’s most advanced undeveloped rare earths projects.
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