Lindian Resources acquires 100% of Kazakhstan rare earths facility

Lindian Resources Limited has acquired the remaining 49% interest in the SARECO mixed rare earth carbonate (MREC) hydrometallurgical processing facility in Stepnogorsk, Kazakhstan, achieving 100% ownership. The acquisition was completed for US$20 million in cash and includes 15,500 square meters of land and two commercial facilities for future downstream expansion.

Previously, Lindian held a 51% stake in the facility, which was developed by Sumitomo Corporation and Kazatomprom. By securing full ownership, Lindian aims to become a vertically integrated producer, allowing it to capture 100% of downstream margins and exercise complete control over production and marketing. The plant is one of the few commercial-scale MREC processing facilities operating outside of China.

The facility is intended to process concentrate from Lindian’s Kangankunde project in Malawi. By acquiring an existing operational plant, the company avoids the estimated A$500 million cost and multi-year permitting timelines associated with developing a new greenfield site. MREC processing is targeted to begin in the fourth quarter of 2026.