Lindian Resources has reached a financing agreement with the Gerald Group for $50 million to advance the development of the Kangankunde rare earths project in Malawi. The project is expected to become a significant player in the global rare earths market. The funding will support the first phase of the Kangankunde project, covering approximately $40 million in capital expenditures and the operating costs of initial mine reserves. The financing package includes equity, convertible instruments, and loans, with part of the loans to be repaid through the supply of monazite concentrate. Under the agreement, the Gerald Group will have full purchase rights to the monazite concentrate from the first phase, as well as additional rights to production from the second phase.