Lindian bolsters leadership team to drive Malawi | Australian Markets

Lindian Assets has bolstered its management workforce with Robert Martin leaping into the new seat as its new govt chairman and Teck Lim becoming a member of as chief financial officer, because the company drives ahead its globally vital Kangankunde uncommon earths project within the southeastern African nation of Malawi.

Lim is a extremely skilled mining govt with a background within the company’s two focussed commodities – uncommon earths and bauxite. He beforehand held the CFO position with ASX-listed Hastings Know-how Metals and led a three way partnership with Andrew “Twiggy” Forrest’s Wyloo, half of the Tattarang group, which in February introduced a 60:40 three way partnership over Hastings’ Yangibana uncommon earths-niobium project.

Lim beforehand labored because the lead director in Perth at KPMG Company Finance managing the mining and project finance advisory business and held senior roles at ING Financial institution, HSBC Financial institution and Deloitte within their respective assets portfolios.

Martin, the present non-executive chairman, is transitioning to the manager chairman position and can handle key authorities, neighborhood and stakeholder relationships whereas protecting a watchful eye on company governance.

The company’s precedence is to secure financing for the spectacular high-grade tier-one Kangankunde project by yr’s finish.

To additional its push to develop the project, the company additionally not too long ago welcomed skilled company financial advisor Henk Ludik to help determine and advocate funding options and discover a flurry of curiosity from a number of events trying to take part within the project’s financing.

He’s set to deal with changing its non-binding US$50 million (A$79m) stage-one funding deal with United States-based commodity trader Gerald Metals Group into a binding settlement.

Lindian has additionally anointed a current addition to the board, Zekai (Zac) Komur, to ascertain and chair a project supply and technical committee for Kangankunde. And former Anglo American and Sierra Rutile construction supervisor Daniel Britz has joined the company as website construction supervisor.

The Kangankunde project accommodates a large 261 million tonnes grading a excellent 2.14 per cent whole uncommon earth oxides. The magnet uncommon earths neodymium and praseodymium comprise 20.3 per cent of the project’s whole uncommon earths.

The high-value magnet uncommon earths outlined within the project are a actually gorgeous 1.1mt. At this time’s price of about US$56,000 (A$88,000) per tonne of neodymium and praseodymium gives an indication of the worth of magnet uncommon earths within the Kangankunde project.

Lindian additionally stays focussed on pushing forward with its bauxite belongings within the West African nation of Guinea. It signed a binding lease settlement and royalty deed in November with Guinea-based Enterprise Generale d’Entretien & Development and Lancinet Dabo (collectively the lessees) for them to have a 10-year lease settlement and working rights over the Woula bauxite project in Guinea.

The lessees have dedicated to ultimately pumping out 2mt of bauxite every year at Woula, with Lindian to obtain a royalty of between US$1 per tonne to US$2 per tonne, relying on the possession construction of the manufacturing entity. The royalty funds will proceed for the life of bauxite manufacturing from the tenements.

The company believes it has now assembled the premise of a great management workforce, with additional appointments the place related, to maneuver Lindian into a future uncommon earths stratosphere and sit ranges above fellow producers.

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