Lindian signs term sheet for Kazakhstan MREC processing plant [Yahoo! Finance]
SUMITOMO CORP S/ADR (SSUMY)
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Source: Yahoo! Finance
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%). 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 L
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