Lindian signs supply agreement for Guinea bauxite
Lindian has signed a Supply Agreement with C&D Logistics Group, a subsidiary of Xiamen C&D Inc (SHA: 600153), a China-based conglomerate listed on the Shanghai Stock Exchange for Lindian to supply 23 million Wet Metric Tonnes ('WMT') of bauxite from the Gaoual High Grade Conglomerate Bauxite Project in Guinea, West Africa over a six-year period commencing in 2025.
C&D Logistics will now discuss options with Lindian to cooperate on the development of the Gaoual Project through bauxite prepayment arrangements. The parties have agreed to the following annual volumes through to 2030 with pricing determined annually based on the Standard Guinea LT bauxite (GBIX) price:
Lindian is an ASX-listed Australian company with world class rare earths and bauxite assets critical to EVs and a range of other industries including electronic infrastructure, solar panels, rechargeable batteries, wind turbines, medical imaging and manufacturing.
On 10 April 2019, Lindian signed an exclusive option agreement with KB Bauxite Guinea SARLU and its sole shareholder Guinea Bauxite Pty Ltd to acquire the Gaoual Bauxite Project.
The Gaoual Bauxite Project is in north western Guinea within the Boké Bauxite Belt. It is situated south of the township of Gaoual in the northern portion of the Kogon-Tomine interfluve, about 65 km northeast of Sangaredi.
The asset contains conglomerate bauxite at the Bouba plateaux which is the same type of ore initially discovered at the Sangaredi bauxite deposit which is owned by Compagnie des Bauxites de Guinée ("CBG").
Gaoual is one of only two known major 'Conglomerate Bauxite' occurrences in discovered in Guinea, the other being Sangaredi - mined for ~30 years by Compagnie des Bauxites de Guinée (CBG).
Gaoual has very similar geological and geochemical characteristics to the Sangaredi Conglomerate Bauxite deposit, which was regarded as vastly superior to all other bauxite.
