• Iluka to provide US$20M (~A$32M) Construction Term Loan Facility
• 15-year strategic partnership for offtake of 90,000 tonnes of Rare Earth Monazite Concentrate
• Iluka granted Right of First Refusal for Phase 2 production expansion up to 375,000 tonnes

Lindian Resources Limited (ASX: LIN) has executed a binding loan term sheet and full-form offtake agreement with Iluka Resources (ASX: ILU), establishing a long-term strategic partnership. Iluka will provide a cornerstone US$20 million (~A$32 million) Construction Term Loan Facility over a 5-year tenor to fund the development of Lindian's world-class Kangankunde Rare Earths Project. The partnership also includes a 15-year strategic offtake agreement for Iluka to purchase 90,000 tonnes (6,000 tonnes per annum) of Rare Earth Monazite Concentrate from Kangankunde. Iluka is also granted a Right of First Refusal for a Phase 2 production expansion at Kangankunde for up to an additional 375,000 tonnes (25,000 tonnes per annum for 15 years), subject to Iluka providing a 50% debt funding offer and agreeing to Lindian's revised commercial terms. The Rare Earth Monazite Concentrate from Kangankunde will feed Iluka's fully integrated Eneabba Rare Earths Refinery Facility in Western Australia. The strategic partnership strengthens Kangankunde's position as one of the most attractive and advanced rare earth projects globally, providing a credible pathway forward for its development.

Lindian's Kangankunde Rare Earths Project is expected to produce 15,000 tonnes per annum of Rare Earth Monazite Concentrate in Phase 1, with potential for a significant production increase in Phase 2 expansion.

Lindian is continuing the evaluation of its Phase 2 expansion study at Kangankunde, with the objective of achieving a substantial increase in production beyond the initial 15,000 tonnes per annum target. The Phase 2 expansion will involve a Right of First Refusal mechanism for Iluka to provide project funding and procure additional offtake volumes.