AuKing Mining Limited (ASX: AKN) has agreed to acquire a 100% interest in the Machinga Heavy Rare Earths Project in south-eastern Malawi. The transaction provides the company with full ownership of two exploration licences covering 200.4 square kilometres, positioning it to immediately commence follow-up exploration once the acquisition is finalized.

The project is known for significant heavy rare earth enrichment, with historical drilling returning high-grade intercepts such as 15.1 metres at 1.01% total rare earth oxides (TREO) and 27.70% heavy rare earth oxides (HREO). The mineralization, which includes potential niobium by-product recovery, remains exposed at the surface, offering the company a path toward lower-cost open-pit mining compared to deeper, underground-focused deposits elsewhere.

"The proposed acquisition of the Machinga Heavy Rare Earths Project represents another important step in AuKing's strategy to build a portfolio of high-quality critical minerals projects in Malawi."

"Historical exploration, together with the more recent work undertaken by DY6 Metals/Tusker Minerals, has confirmed Machinga as a highly prospective heavy rare earth and niobium project."
— Paul Williams, Managing Director

The site is situated within the Chilwa Alkaline Province, a geological setting characterized by peralkaline igneous systems that are globally recognized for hosting rare earth element mineralization. Following the completion of the acquisition, AuKing intends to launch an exploration program to further define the resource potential across the project’s district-scale footprint.

Read the full announcement: AuKing to Acquire High Grade Heavy Rare Earths Project