Business · Companies · 2 hrs ago
Lindian secures deal to sell 30,000 tonnes of Malawi rare earths a year
Lindian Resources secured a deal to sell rare earth concentrate from its Kangankunde project in Malawi to a major global refining group.
The binding term sheet covers 30,000 dry tonnes a year, split into two stages.
The first stage is 10,000 tonnes over one year, with shipments expected to begin from Mozambique’s Nacala Port in January 2027.
The second stage commits the buyer to a further 20,000 tonnes a year for five years.
The deal adds a major customer before production begins, and Lindian says its first-stage capacity is now fully allocated among buyers and its own processing plans.
The concentrate is expected to contain an average of 54% total rare earth oxides, and its price will be linked to the Asian Metals Index.
Lindian shares rose more than 17% in early trading after the deal was announced; first production is planned for December, while the company says it is working to finalise remaining second-stage offtakes.
Lindian Resources secured a binding offtake term sheet for monazite concentrate from its Kangankunde rare earths project in Malawi.
The agreement covers 30,000 tonnes per annum across two delivery phases.
The first phase covers 10,000 dry metric tonnes over one year, with first shipments scheduled to leave Mozambique in January 2027.
A second phase commits the buyer to take 20,000 dry metric tonnes per year for five years.
Lindian said its Stage 1 concentrate capacity is fully allocated among offtake partners and its own downstream supply.
The company said the new deal adds to its global customer portfolio ahead of planned first production in December.
- Who
- Lindian Resources and an unnamed global refining group.
- What
- They signed a binding offtake term sheet for monazite concentrate from Kangankunde.
- When
- The deal was reported on November 10, 2026; first shipments are scheduled for January 2027.
- Where
- The project is in Malawi, and shipments are planned from Nacala Port in northern Mozambique.
- Why
- The agreement secures a customer for the project’s concentrate ahead of first production.
This story does not have two clearly opposing sides.
Lindian announced it had secured a binding offtake term sheet for concentrate from Kangankunde.
First shipments from Nacala Port are scheduled to sail.
The first phase covers 10,000 dry metric tonnes.
The second phase commits the buyer to take 20,000 dry metric tonnes per year.
- Annual offtake
- 30,000 tonnes per annum
- Stage one
- 10,000 dry metric tonnes over one year
- Stage two
- 20,000 dry metric tonnes per year for five years
- Shipment port
- Nacala Port, northern Mozambique
- First shipments
- Scheduled for January 2027
- Expected concentrate grade
- Average 54 per cent total rare earth oxides
2 sources
What people are saying
This binding Term Sheet represents another significant milestone for Lindian, with Kangankunde Stage 1 Concentrate capacity now fully allocated between our offtake partners and our own SARECO MREC facility, and with over 45,000dmt of Stage 2 volumes procured.
We look forward to working with our potential partners and the Malawian and Kazakhstan governments to finalise the remaining stage 2 offtakes.