Lindian Resources acquires remaining interest in Sareco facility
- Lindian Resources acquires the remaining 49% interest in the Sareco operating hydromet facility for US$20 million cash to achieve full ownership.
- Following the transaction announcement, the company share price was unchanged at $0.80.
- The company stated that the acquisition provides full ownership of the facility and supports future downstream growth and vertical integration.
Lindian Resources (ASX:LIN) acquired the remaining 49% interest in the Sareco operating hydromet facility for a purchase price of US$20 million in cash.
The transaction increases the company ownership from 51% to 100% following previous joint ownership with Sumitomo Corporation and Kazatomprom.
“We are encouraged and welcome the clarification provided by the various government ministries regarding Kangankunde and the confirmation that the project is operating in accordance with Malawi’s laws and regulatory framework,” said Lindian Resources Executive Chairman Robert Martin.
The purchase price includes additional land and two commercial facilities covering 15,500 cubic metres alongside associated assets for end-user products.
The company stated that the transaction is expected to position the business with full operational and marketing control over 100% of Sareco facility operations.
Following the announcement, the Lindian Resources share price was unchanged at $0.80.
The Sareco facility is an operational mixed rare earth carbonate and chloride processing plant with commercial scale outside of China.
The company is currently targeting mixed rare earth carbonate processing for the next quarter, in Q4 2026, alongside the Kangankunde Rare Earths Project's first production.
