Wedoany.com Report-Dec.11, Lindian Resources Limited (ASX:LIN), an Australia-based company, has completed full acquisition of Rift Valley Resource Developments Limited (RVRD), the Malawian entity that holds 100% of the Kangankunde rare earths project. The final payment of US$10 million (A$15.05 million) was made ahead of schedule, bringing Lindian's ownership from 67% to 100%.

The Kangankunde rare earths project is one of the world's largest and highest-grade rare earth deposits currently in development.

The Kangankunde project, located in central Malawi, is recognised as one of the world's largest and highest-grade rare earth deposits outside China currently advancing toward production. Full ownership transfers complete legal and operational control of the asset directly to Lindian.

The acquisition was structured under a binding agreements signed in August 2022 for a total consideration of US$30 million payable in four instalments. The first US$2.5 million non-refundable deposit was paid in August 2022, followed by US$7.5 million in September 2022 after shareholder approval. The third tranche of US$10 million was settled in July 2023, lifting Lindian’s interest to 67%. Although the final US$10 million instalment was originally due by 31 July 2026 or upon commencement of commercial production, Lindian elected to complete payment early after satisfactory completion of legal, tax and accounting due diligence.

Lindian Resources Executive Chairman Robert Martin commented: “Achieving 100% ownership of Kangankunde marks another important milestone in Lindian's journey. This structure provides clear alignment of our operational entities under which recent contracts have been secured, and with stage one construction advancing rapidly and stage two studies well under way, this consolidation provides full strategic and operational control as we move toward first production on what is one of the rare earth industry's most significant development projects.”

In a separate development, Lindian received formal approval in August 2025 from the Malawi Mining and Minerals Regulatory Authority to expand the Kangankunde mining licence area from 900 hectares to 2,500 hectares. The enlarged licence boundary incorporates additional prospective carbonatite zones identified through recent exploration and provides greater flexibility for future mine planning and infrastructure placement.

With construction of Stage 1 processing facilities progressing on schedule and feasibility studies for Stage 2 well advanced, the early completion of the acquisition removes any remaining joint-venture arrangements and streamlines decision-making as the project moves toward initial rare earth concentrate production. Kangankunde is noted for its non-radioactive monazite-hosted mineralisation and exceptionally high grades of neodymium-praseodymium and other heavy rare earth elements critical to permanent magnets and advanced technology applications.

The transaction strengthens Lindian's position as the sole owner of a globally significant rare earth development asset in a mining-friendly jurisdiction.