• 100% acquisition of SARECO MREC Facility from Sumitomo and Kazatomprom
• SARECO is the only operational MREC facility outside of China
• Acquisition includes additional land and two commercial facilities
• Transaction financed through recent A$100 million capital raising
• Targeting first processing at SARECO in Q4 2026

Lindian Resources Limited (ASX: LIN) has completed the acquisition of the remaining 49% interest in the SARECO Mixed Rare Earths Carbonate (MREC) processing facility in Stepnogorsk, Kazakhstan, bringing its total ownership to 100%. SARECO is the only constructed and operational MREC facility outside of China. The acquisition includes additional land and two commercial facilities totaling approximately 15,500m², providing capacity for future expansion. The transaction, valued at up to US$20 million, is fully funded by Lindian's recent A$100 million capital raising. SARECO's operational infrastructure, including cracking, leaching, and precipitation circuits, is well-suited for MREC production, supported by independent validation from ANSTO. Lindian aims to commence processing at SARECO in Q4 2026, aligning with the first production at its Kangankunde project. The acquisition provides Lindian with a capital-efficient pathway into downstream processing and opens up opportunities for further downstream growth.

SARECO targeting first processing in Q4 2026

Lindian is well positioned to execute its integrated mine-to-MREC strategy with the full ownership of SARECO and the upcoming first production at Kangankunde.