CEO for ASX-listed Lindian Resources Alistair Stephens this week surprised the audience at the Malawi Mining Investment Forum in Lilongwe when he said his company is ready to start mining at Kangankunde rare earth prospect in Balaka without negotiating a mine development agreement.
Stephens indicated when answering questions on his presentation on the project that Lindian will operate as any other local company by following Malawi's laws and is not seeking any concessions nor discounts on royalties and taxes.
Lindian has all the paperwork for Kangankunde including a mining licence, environmental and water permit.
Negotiations for development agreements between investors and Malawi Government are a cause for delays for mining to resume at Kayelekera Uranium mine in Karonga and Songwe Hill Rare Earths Project in Phalombe.
LIN Price at posting:
14.0¢ Sentiment: Buy Disclosure: Held
(20min delay)