[SMM Flash News: Iluka Resources to Process African Rare Earths from Lindian Resources via Eneabba Refinery] Iluka Resources has reached a significant agreement with Lindian Resources. Under this agreement, Lindian Resources will supply monazite concentrate from its Kangankunde mine in Malawi to Iluka, with an annual supply volume of 6,000 mt. These concentrates will be transported to Iluka's rare earth refinery near Jurien Bay for processing.
The off-take agreement spans 15 years, with pricing linked to the minimum price set by the Australian government, a new policy initiative proposed by Madeleine King, the Federal Minister for Resources. Notably, Iluka will process these monazite concentrates through its Eneabba refinery, which has received $1.65 billion in taxpayer funding. Once completed, the refinery will have the capacity to process 65,000 mt of raw material annually.
Additionally, to support the construction of the Kangankunde mine, Iluka will also provide a loan worth $20 million (equivalent to 31 million US dollars) to Perth-based Lindian Resources. It is reported that the Eneabba refinery is expected to commence operations in 2027, while the Kangankunde mine is anticipated to start production next year.