Lindian hails milestone first works contract for | Australian Markets

Lindian Sources is hailing as a milestone the signing of a new contract for an entry street and civil works at its Kangankunde uncommon earths project in Malawi that it has awarded to main European construction company Mota-Engil.

The US$1.3 million (A$2.07m) contract is the primary Lindian has awarded to advance the Kangankunde uncommon earths project. The work is predicted to take 18 weeks to finish and contains main freeway entry, 5 kilometres of inner entry and different website works within the lease space.

Lindian awarded the contract to Portugal-listed Mota-Engil following a complete tender course of. Since 1990, Mota-Engil has labored on some of Malawi’s largest engineering and construction tasks, together with Africa’s largest railway project previously 50 years.

The group additionally has expertise in port management through its Malawi Transport Firm, which holds 4 35-year port concessions.

Lindian views Mota-Engil’s sturdy status for delivering high-quality tasks throughout the globe as pivotal and says its new partnership will reinforce the Kangankunde project’s status as probably one of essentially the most vital uncommon earth tasks within the world.

Lately highlighted as one of the world’s most promising uncommon earths tasks as a consequence of its high-grade, low-cost potential, Kangankunde is absolutely permitted and prepared for the subsequent section of its development having simply secured a US$50 million (A$80.1m) funding settlement and off-take bundle from United States-based commodity trader Gerald Metals Group.

The giant project has an initial ore reserve of 23.7 million tonnes with an spectacular average grade of 2.9 per cent whole uncommon earth oxides, underpinning a mine life of 45 years.

Research point out the project may generate about 15,300t yearly of clean, high-grade whole uncommon earth oxides focus for a whole of 8400t of uncommon earth oxides and 1640t of the prized magnet uncommon earths neodymium and praseodymium.

The award of this contract is an important milestone for Lindian and the Kangankunde project. It would display to the people of Malawi and the investment market that Lindian is dedicated to advance the development of the project. The choice of Mota-Engil as our first development companion is an important step which can even result in their broader involvement in further work packages over time.

Lindian management lately met with representatives of the Malawi authorities and says they’ve acquired sturdy authorities assist for the project, together with from the new Mines Minister.

Malawi is one of the world’s least-developed international locations. Its economic system is closely primarily based on agriculture and it has a largely rural and growing population. Considerably for the area, Lindian’s Kangankunde project affords a means to offer important new native employment and small business alternatives and improve native transport connectivity.

Considerably for its buyers, Lindian is within the last phases of securing different key industrial agreements for the project, together with a fixed-price contract for a processing plant and a energy provide.

The company says it’s dedicated to figuring out project funding options this quarter, paving the best way to kick off course of plant construction shortly thereafter.

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