Lindian Secures AU$32 million Funding and 15-Year Offtake Deal with Iluka

Lindian Resources Limited (ASX: LIN) has entered a transformative strategic partnership with Iluka Resources (ASX: ILU), securing a US$20 million (~AU$32 million) construction term loan and a 15-year offtake agreement for its Kangankunde Rare Earths Project in Malawi. The deal ensures Iluka will purchase 6,000 tonnes of monazite concentrate annually, with a right of first refusal for Phase 2 expansion of up to 25,000 tonnes per year. The concentrate will feed Iluka’s government-backed Eneabba Rare Earths Refinery in Western Australia, enhancing supply chain resilience for critical minerals. The agreement provides floor price protection above production costs and includes upside pricing linked to NdPr oxide prices. This milestone de-risks Lindian’s Stage 1 development and positions Kangankunde as one of the world’s leading rare earth projects with multi-decade production potential.

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