Lindian Resources signs 10-year rare earths deal
- Lindian Resources executed a technology and engineering services agreement and a binding 10-year offtake agreement with Carester SAS for an 8,000 tpa REO SX facility.
- The agreement secures Carester's commitment to purchase 70% of SEGH production and grants a right of first refusal for 70% of MHREC production.
- The development advances downstream processing at Stepnogorsk, Kazakhstan, to capture higher market value across the critical minerals chain.
Lindian Resources (ASX:LIN) has partnered with Carester SAS to construct an 8,000 tonnes per annum solvent extraction facility and secure a binding 10-year off-take agreement for rare earth materials.
The agreement follows ongoing definitive feasibility studies to establish downstream processing capabilities, expanding on previous raw material production targets.
“The agreement with Carester represents another significant step in Lindian’s strategy to move further downstream to expand our markets and to capture more of the value from the rare earths that we produce,” said Lindian Resources Executive Chairman Robert Martin.
Under the terms, Carester will purchase 70% of mixed heavy rare earth production, with two additional five-year extension options available beyond the initial 10-year period.
The company aims to complete the definitive feasibility study by the end of 2026 to support long-term processing operations.
Following the announcement, the Lindian Resources share price was unchanged at $0.70.
The critical minerals producer is concurrently advancing stage one construction at its Kangankunde rare earths project in Malawi towards commissioning.
In addition, maintenance efforts are underway to fully commission the SARECO processing facility to establish a unified rare earth processing supply chain.
