Lindian Resources shares halted over Malawi licence dispute

Lindian Resources' chief financial officer Derek Bideshi reaffirmed confidence in the company's Kangankunde rare‑earths project in Malawi at a recent industry conference. A video later showed Malawi National Assembly Speaker Sameer Suleman urging the government to suspend Lindian's operations, questioning the company's use of a medium‑scale mining licence and giving authorities 30 days to verify compliance.

Following the parliamentary concerns, Lindian's shares fell about 10% on the Australian market before trading was halted. The move could affect major Australian hedge‑fund shareholders such as Regal Partners and L1 Capital. Morgan Stanley has suggested the company may soon join the S&P/ASX 300 Index, attracting further passive investment. The licence issue was first raised in May by The Nyasa Times, prompting a regulator review of whether the project should be re‑classified as a large‑scale operation, which would entail higher royalties and stricter reporting requirements. Despite the scrutiny, Lindian maintains that production is on track for October.