Lindian Resources has signed a binding term sheet to acquire 100% of an existing mixed rare earths carbonate (MREC) processing facility in Stepnogorsk, Kazakhstan.
This acquisition is structured through an incorporated joint venture (IJV) between Lindian (51%) and local in-country JV partner RA-Group (49%).
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The Lindian-RA JV plans to buy the Summit Atom Rare Earth Company Arctic (SARECO) MREC processing facility and related infrastructure, which was previously owned and operated by a JV between Sumitomo Corporation and Kazatomprom.
The transaction marks a significant shift in Lindian’s operational strategy, transitioning from solely producing concentrate to entering the high-value MREC production market.
By acquiring this fully operational facility, the company aims to enhance its position within the rare earth processing sector without undertaking the extensive costs and risks associated with greenfield developments.
The SARECO plant’s acquisition is valued at $15m, with Lindian contributing $7.65m (A$10.83m) and RA contributing $7.35m (T3.65bn).
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By GlobalDataThe majority of this cost is deferred until after commercial production begins.
This facility offers a cost-effective entry into downstream processing, leveraging existing infrastructure to minimise investment and development time.
Lindian plans to supply approximately 12,500 tonnes per annum (tpa) of monazite concentrate from its Kangankunde Rare Earths Project to the JV.
Both Kangankunde and the SARECO facility are expected to be operational by the fourth quarter of 2026.
The acquisition coincides with international cooperation between the US and Kazakhstan in critical minerals, underscored by a memorandum of understanding signed in November 2025.
This collaboration aims to diversify and secure mineral supply chains beyond currently concentrated jurisdictions.
With operational oversight and exclusive marketing rights for all MREC products produced, Lindian seeks to broaden its customer base and strengthen its negotiating position in global markets.
Lindian Resources executive chairman Robert Martin said: “The acquisition of the SARECO MREC facility is a defining step for Lindian.
“It fast-tracks our transition from a concentrate producer to an integrated rare earths company with downstream capability, materially enhancing margins, commercial flexibility and long-term strategic value.
“This transaction positions Lindian to be one of the very few non-Chinese companies globally producing both rare earth concentrate and MREC.”
In December 2025, the company paid the final $10m tranche under a share sale agreement to acquire Rift Valley Resource Developments, the Malawian company that owns 100% of the Kangankunde Rare Earths Project.
