Lindian strengthens finance leadership as Kangankunde build gathers pace Proactive uses images sourced from Shutterstock

Lindian Resources Ltd (ASX:LIN, OTC:LINIF) has bolstered its executive team with the appointment of experienced mining finance leader Derek Bideshi as chief financial officer, as the company moves closer to production at its flagship Kangankunde rare earths project in Malawi.

The appointment comes at a pivotal stage for Lindian, with construction under way at Kangankunde and parallel efforts advancing its downstream processing strategy through SARECO, positioning the company as an emerging integrated rare earths producer.

Bideshi will formally join the company on July 6, bringing more than 18 years of international experience across mining and resources, including senior roles at Iluka Resources, South32 and BHP.

Experienced finance leader joins at critical phase

At Iluka, Bideshi served as general manager of finance, overseeing group-wide functions spanning treasury, tax, procurement and financial strategy. He played a central role in refinancing more than US$500 million in corporate debt and establishing funding structures to support multi-jurisdictional operations.

His background in capital management, project financing and governance is closely aligned with Lindian’s current priorities as it transitions from development into production and scales its operations across Malawi and Kazakhstan.

As CFO, Bideshi will lead the company’s global finance function, supporting capital allocation, funding strategy and commercial execution, including offtake arrangements and broader growth initiatives.

Non-executive director Teck Lim said the appointment strengthens Lindian’s leadership at an “important juncture” as it advances Kangankunde towards first production and builds out its downstream ambitions.

“Derek brings a disciplined and commercially grounded approach to financial management, with strong board engagement and capital markets experience,” Lim said. “This will be critical as we continue to scale the business and deliver on our strategy.”

Internal promotion reinforces depth

Alongside the new CFO appointment, Lindian has promoted Rajesh Agrawal to general manager of finance, recognising his role in building the company’s financial systems and supporting its transition into the development phase.

Agrawal joined Lindian in 2024 as financial controller and brings more than three decades of experience across mining and multinational organisations, including roles with Rio Tinto and Aditya Birla Group.

The dual appointments reflect a broader push to strengthen internal capability as the company evolves into a multi-jurisdictional operating business, with finance and supply chain teams already established across Malawi and Kazakhstan.

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Lindian is also upgrading its enterprise resource planning systems and implementing enhanced audit and risk frameworks to support operational scale and reporting discipline as it approaches production.

Building momentum at Kangankunde

The leadership update follows a series of recent milestones as Lindian accelerates development at Kangankunde, one of the world’s largest undeveloped rare earths deposits.

The company recently secured A$100 million in funding to fast-track project expansion and downstream initiatives, while also strengthening its board and project team as construction activity ramps up.

Kangankunde is expected to produce a high-grade monazite concentrate, with strong project economics supported by low operating costs and favourable infrastructure access. The company has also recently highlighted progress at the Tipume camp, marking another step towards first production.

With funding in place, early construction under way and now an expanded finance leadership team, Lindian appears increasingly focused on execution — moving from project development into production while laying the groundwork for a vertically integrated rare earths business.

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