Lindian Resources Ltd (ASX: LIN), an ASX 300-listed Australian critical minerals company developing an integrated rare earths business, has reported significant advancements for the quarter ending 30 September 2026. The company focuses on its Kangankunde Rare Earths Project in Malawi and its SARECO Mixed Rare Earth Carbonate (MREC) Processing Facility in Kazakhstan. Active mining commenced at Kangankunde with the first production blast, establishing approximately 125,000 tonnes of ore ahead of schedule. Stage 1 process plant construction intensified towards commissioning with 24-hour operations, supported by advancements in major infrastructure.
Solidifying its vertically integrated strategy, Lindian secured 100% ownership of the SARECO MREC Processing Facility in Kazakhstan, providing full operational and marketing control. The Australian Nuclear Science and Technology Organisation (ANSTO) validated the Kangankunde Monazite Concentrate to MREC flowsheet, achieving 98% NdPr extraction and certifying the final product as non-radioactive. An exclusive option for Aktau feedstock was also secured, broadening potential heavy rare earth products. Further, a strategic partnership with Carester SAS includes a binding long-term offtake agreement and plans for an 8,000 tpa REO oxide separation facility.
Lindian’s Executive Chairman, Robert Martin, highlighted the quarter as a “significant period of delivery,” affirming the company’s focus on “disciplined execution towards first Monazite Concentrate production in December 2026.” The Kangankunde Stage 2 Definitive Feasibility Study (DFS) advanced, aiming for an expanded Mineral Resource Estimate. Priorities for the December quarter include completing construction and commissioning at Kangankunde and advancing SARECO. Lindian ended the period with a robust cash position of $45 million, with total liquidity of $62 million including undrawn facilities.
