Core Insights - Lindian Resources Ltd announced a significant improvement in the economics of its Kangankunde Rare Earths Project in Malawi, with the pre-tax net present value (NPV) increasing by A$536 million from A$1.8 billion to A$2.3 billion and the internal rate of return rising from 99% to 142% [1][8] Project Economics - The updated project metrics reflect both technical improvements and operational refinements, confirming the robustness of the Kangankunde project [2][8] - The annual production of monazite concentrate has increased from 15,300 to 20,000 tonnes, indicating a strong demand for high-grade concentrate containing approximately 55% total rare earth oxides (TREO) [3][9] Engineering and Construction - Lindian has awarded Obsidian the engineering, procurement, and construction (EPC) contract for the Stage One processing plant, selected through a global tender process [4][10] - Key changes in the processing flow sheet include transitioning from two-stage to single-stage crushing, replacing screening with cyclones, and removing cell block flotation, with capital expenditure remaining steady at approximately US$40 million [5][11] Future Expansion - A study is underway to potentially double output to 100,000 tonnes per annum, led by engineering firm Pacifico, which is expected to de-risk the development path for both Stage One and future expansions [5][11] - The market responded positively to the news, with Lindian's share price rising by around 7% following the announcement [6][12]