Lindian Resources Limited (ASX:LIN) has signed a Supply Agreement with C&D Logistics Group, a subsidiary of Chinese conglomerate Xiamen C&D Inc. to provide 23 million Wet Metric Tonnes (WMT) of bauxite from the Gaoual High Grade Conglomerate Bauxite Project in Guinea, West Africa over a six-year period commencing in 2025.
“This is a major step forward for Lindian in unlocking the value of our extensive bauxite assets in Guinea, much like we have done in a short space of time in Malawi with our world class Kangankunde Rare Earths project,” Executive Chairman, Asimwe Kabunga, said.
“For some time, we have been seeking a partner with a strong balance sheet and offtake requirements to fund development of our Gaoual Conglomerate Bauxite Project. C&D Logistics Group has all of these characteristics and great pedigree. The recent ban on bauxite exports from Indonesia has increased the demand for Guinea’s bauxite, and in some cases, accelerated project development activities. Today’s agreement reflects this.
“We have a relatively short window to achieve supply of the first three million WMT in 2025 which is less than two years away. As such, our immediate focus is to rapidly advance negotiations to lock in logistics infrastructure access, and secure contract mining services which ensures start-up capex is relatively modest given it’s a straightforward bulk mining, screening and transport operation.”
For further information please visit: https://www.lindianresources.com.au/
