DY6 Metals has been granted a licence for its Tundulu Project by the Malawian Department of Mines.

The licence allows DY6 to proceed with its plans for exploring the carbonatite complex in southern Malawi, which is known for its enrichment in rare earth elements and niobium.

The site shows potential in areas like Nathace Hill, Tundulu Hill, and Makhanga Hill, where previous exploration was limited but suggestive of extending REE mineralisation.

"Conducting test work at this early stage enables the company to ascertain the preliminary viability of producing two product streams; a REE commercially saleable concentrate and a mixed phosphate concentrate containing rare earths," said Lloyd Kaiser, CEO of DY6 Metals.

The test work will begin in the second half of 2024, using approximately 120kg of representative samples from historic trenches.