ASX-listed Lindian Resources’ geologist Michael Saner has signed a consent order with the Malawi Ministry of Natural Resources and Environmental Affairs, bringing the company a step closer to acquiring up to 75% in the Kangankunde rare earths project, in Malawi.
With the consent order obtained, Lindian will next verify and update all previous reports and studies on the project, which includes prefeasibility economics, and conduct initial on-site sampling and mapping to assist in confirming previously reported grades.
After the initial first-stage acquisition has been finalised with the issuing of a new exclusive prospecting licence (EPL) over the 25 km2 project, Lindian will conduct further drilling to provide confirmation of grade, as well as confirm and/or raise resource confidence from previously reported categories.
Lindian chairperson Asimwe Kabunga commented on Thursday that the settlement between the Malawi Ministry of Natural Resources and Environmental Affairs and Saner effectively ends 15 years of litigation in respect of the project, while allowing the company to complete its due diligence.
The consent order also provides for the ministry to support the conversion of the EPL into a mining licence. The EPL is valid for an initial three years and is renewable twice for periods of two years each.