Lindian finds partner for Guinea bauxite project
PERTH (miningweekly.com) – ASX-listed Lindian Resources has inked a six-year supply agreement with China’s C&D Logistics Group for 23-million tonnes of bauxite from the Gaoual bauxite project, in Guinea.
C&D Logistics will now discuss options with Lindian to cooperate on the development of the Gaoual project through bauxite prepayment arrangements.
“This is a major step forward for Lindian in unlocking the value of our extensive bauxite assets in Guinea, much like we have done in a short space of time in Malawi with our world class Kangankunde rare earths project,” said Lindian executive chairperson Asimwe Kabunga.
“For some time, we have been seeking a partner with a strong balance sheet and offtake requirements to fund development of our Gaoual conglomerate bauxite project. C&D Logistics Group has all of these characteristics and great pedigree. The recent ban on bauxite exports from Indonesia has increased the demand for Guinea’s bauxite, and in some cases, accelerated project development activities. Today’s agreement reflects this.
“We have a relatively short window to achieve supply of the first three-million tonnes in 2025, which is less than two years away. As such, our immediate focus is to rapidly advance negotiations to lock in logistics infrastructure access and secure contract mining services, which ensures startup capex is relatively modest given it’s a straightforward bulk mining, screening and transport operation,” said Kabunga.
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