Lindian Resources announces that it has signed a binding offtake agreement involving 30,000 dry metric tonnes (dmt) of monazite concentrate from its Kangankunde Rare Earths Project in Malawi. The agreement was signed by its wholly owned subsidiary in Singapore, Lindian Global Rare Earths Pte. Ltd.
The binding offtake of Monazite Concentrate from the Company’s flagship Kangankunde Rare Earths Project incorporates both Stage 1 volumes for 10,000 dry metric tonnes and Stage 2 for 20,000 dmt per annum.
Lindian’s Executive Chairman, Robert Martin, commented:
”This binding Term Sheet represents another significant milestone for Lindian, with Kangankunde Stage 1 Concentrate capacity now fully allocated between our offtake partners and our own Sareco MREC facility, and with over 45,000dmt of Stage 2 volumes procured. With high-quality customers across multiple supply chains, we have established a truly global offtake portfolio ahead of first production in December.
We are looking forward to working closely with our potential partners and the Malawian and Kazakhstan governments to finalise the remaining stage 2 offtakes for Kangankunde and to choosing our offtake partners for our Sareco MREC product”.
