STRATEGIC PARTNERSHIP WITH CARESTER FOR OXIDE SEPARATION DEVELOPMENT AND 10-YEAR OFFTAKE AGREEMENT
Lindian Resources has signed a strategic partnership with rare earth separation specialist Carester SAS covering an 8,000tpa REO solvent extraction and oxide separation facility at Stepnogorsk, Kazakhstan, plus a binding offtake with an initial 10-year term and 5+5-year extension options. Under the offtake, Carester will purchase 70% of SEGH heavy rare earths production and holds a right of first refusal over 70% of MHREC output from SARECO, supplying the Caremag Refinery in France — a JV with JOGMEC and Iwatani backed by €216 million of French and Japanese funding and targeting ~15% of global Dy/Tb oxide production.
Key figures
- Y spot usd kg
- 30
- Dy spot usd kg
- 249
- Tb spot usd kg
- 1127
- Sx facility scale
- ~1.5x SARECO facility
- Y forecast usd kg
- 383
- Dy forecast usd kg
- 541
- Tb forecast usd kg
- 1988
- Offtake initial term
- 10 years
- Dfs completion target
- Q4 2026
- Offtake mhrec rofr share
- 70%
- Sx facility capacity tpa
- 8000
- Offtake extension options
- 5 + 5 years (up to 20 years total)
- Offtake segh volume share
- 70%
- Sareco full commissioning
- October 2026
- Caremag government funding
- €216 million
- Cash and undrawn facilities
- A$125m
- Caremag dy tb production target
- ~15% of global dysprosium and terbium oxide production
- Kangankunde stage1 commissioning
- November 2026
AI analysis
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