Lindian Resources ensures the full property of the Lelouma Bauxite project in Guinea

Lindian Resources has completed an agreement to buy binding shares (SPA) to acquire the remaining interest of 25% in the participation of bauxite of its minority partners, achieving the total property of the Lelouma Bauxite project in Guinea.

The Lelouma project, with more than $ 10 million invested by previous owners, is near significant infrastructure, including a railway line and the port of Kamsar.

The project has a mineral resource that complies with Jorc of 900 million tonnes (MT) to 45% aluminum oxide and 2.1% silicon dioxide.

The Lelouma project is aimed at the production of direct sending ore (DSO), eliminating the need for processing.

The complete property of the project eliminates the risk of property dilution and financial commitments associated with the initial acquisition.

Lindian will implement a new management team in the country to manage regulatory approvals, project development and negotiations with potential partners of ports and infrastructure.

After a strategic review and two months of negotiations, Lindian and his minority partners have agreed to the SPA, which includes the broadcast of 20 million consideration actions and a royalty of 1% in the sellers.

These actions will be in a volunteer scrup for six months after the publication. The completion of the SPA is expected within 14 days since the signature, allowing Lindian to focus on the project without previous conditions.

Lindian Resources’s chief executive, Robert Martin, said: “The company has the pleasure of having 100% ownership of this world -class asset, we can now invest in the continuous development of the project without restrictions without restrictions on time restrictions, warnings of multimillionary milestones and minority partners.

“With the increasing demand of aluminum and its products related to the production of electric vehicles with a market that is estimated to achieve ~ 18.5 million in 2030, the company believes that the Lelouma project with approximately 900mt of high -degree material can be a large part of it.

“The company is also in discussions with a new team of bauxites in the country to work independently in the development of the Lelouma project, which allows the company to remain completely focused on our commitment to production our Kanngankund Rare Earths project for 2026.”

Earlier this month Lindian Resources Begun work on the initial place to the Kanngankunde Rare Earths project in Malawi.

“Lindian Resources ensures the complete property of the Lelouma Bauxite project in Guinea” was created and originally published by Mining technologya brand of Globaldata property.

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