Lindian Resources Limited (ASX: LIN) Achieves Milestone in Kangankunde Project with Site Access Road Contract
Project Milestone
Lindian Resources Limited (ASX: LIN) has advanced its flagship Kangankunde Rare Earths Project by awarding the site access road contract to Mota-Engil. The contract, valued at approximately US$1.3 million, is scheduled over an 18-week period and includes 5km of access road works and civil works around the mining lease access area.
Government Support
All necessary government approvals from local authorities have been received. Lindian’s CEO Alwyn Vorster and the management team recently met with members of the Malawi Government, receiving strong support from the newly appointed Minister of Mines, Dr. Kenneth Zikhale R. Ng’oma MP.
Future Outlook
The completion of the access road will enable seamless transportation of construction materials and equipment, ensuring the timely development of the process plant once funding is secured in Q1 2025. The infrastructure will also improve local connectivity, creating economic opportunities for surrounding communities.
Executive Comments
CEO Alwyn Vorster stated, “The award of this contract, although modest in value and duration, is an important milestone for Lindian and the Kangankunde Project. It will demonstrate to the people of Malawi and the investment market that Lindian is committed to advance the development of Kangankunde. The selection of Mota-Engil as our first development partner is an important step which may even lead to their broader involvement in additional work packages over time.”
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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