BALAKA-(MaraviPost)-Australian-based mining exploration and development company Lindian Resources Limited (ASX: LIN) has launched construction of a five-kilometre access road to its Kangankunde Rare Earth site in Balaka to ignite hopes of kick-starting mining operations in 2026 at what will become the site of the world’s largest rare earths deposit.
The Kangankunde rare earth deposit has an estimated value of US$1 billion during its initial mine life.
Valued at US$1.3 million, the access road will enable the safe and efficient transportation of personnel, equipment, and materials to the mine site, paving the way for the successful operation of the mine.
The project is expected to create jobs, stimulate economic activity, and contribute to the country’s economic development.
Lindian has contracted Mota Engil for the job, which is expected to run for 18 weeks.
“I am proud to witness this significant milestone, which represents a major step forward in unlocking the vast mineral potential of our great nation.
“The Kangankunde Rare Earth mine project is a shining example of our government’s commitment to creating an enabling environment for investment, job creation, and economic growth,” said Dr Kenneth Zikhale N’goma, the Minister of Mining.
Chairman of Lindian Resources Limited Mr Rob Martin said; “This significant step forward demonstrates our commitment to bringing the Kangankunde Rare Earth Project into production, which will have a positive impact on the local community, create jobs, and contribute to Malawi’s economic growth.”
The Kangankunde Rare Earth Project is a significant investment in Malawi’s mining sector, with the potential to become one of the world’s leading rare earth producers.
The project has received full permits for construction, mining, and processing, and is expected to commence operations upon finalisation of financing.
Lindian Resources is committed to contributing to Malawi’s economic growth through its planned Kangankunde mining operations, aligning with the government’s MW2063 blueprint.
This vision aims to transform Malawi into an inclusively wealthy and self-reliant nation by 2063.
When in operation, the Kangankunde Project will be considered one of the world’s largest, rare earths deposits and is forecast to provide over the initial mine life more than US$1 billion economic and social benefits to Malawi, via taxes and royalties, jobs and business opportunities as well as social and infrastructure investment.
Additional flow on benefits will be generated from bringing mining investment and development to the region.
Lindian Resources Country Manager Engineer Trevor Hiwa said the new 5km Access Road will facilitate transportation of critical construction materials and equipment at the mine site as well as open the Kangankunde resource to important transport corridors to the global markets.
“The access road marks an important phase towards bringing our rare earth resource closer to the mining, which will have a positive impact on the country’s economy,” said Hiwa.