Lindian secures US$11.6M facility with Malawian bank to support Kangankunde ramp-up

April 22, 2026 - 03:34

Lindian Resources has strengthened its financial position for the development of its flagship Kangankunde Rare Earths Project in Malawi, securing an $11.6 million facility from the nation's NBS Bank Plc. The composite facility provides both equipment financing and working capital, offering the company enhanced flexibility as construction activities progress.

This locally sourced funding underscores the project's strategic importance to Malawi and represents a significant vote of confidence from the in-country banking sector. The capital will be instrumental in supporting the ongoing ramp-up and development activities at Kangankunde, one of the world's largest undeveloped rare earths deposits.

Company executives highlighted the facility as a key component of a diversified funding strategy, complementing existing resources to advance the project toward production. The rare earths from Kangankunde are considered critical for global high-tech and green energy industries, including permanent magnets used in electric vehicles and wind turbines. This financing milestone marks a pivotal step in moving the substantial resource from development into operation, contributing to the diversification of the global rare earths supply chain.