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Lindian Resources Terminates Monazite Offtake Agreement With Gerald Metals for Malawi Project

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Lindian Resources (ASX:LIN) said it has mutually agreed with Gerald Metals to terminate the 2023 sale and purchase agreement covering monazite concentrate from its Kangankunde Rare Earths Project in Malawi, according to an Australian bourse filing on June 19 after market hours.

The company will issue 20 million fully paid ordinary shares to Gerald within 14 days of executing the termination deed, with the shares to be held under a voluntary escrow arrangement for 90 days, per the filing.

The termination grants the company complete control over its sales strategy, pricing, product quality, production volumes, profitability, and target markets, while also allowing earlier supply to the Sareco hydromet facility in Kazakhstan, the filing added.

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