PERTH, Australia, Aug. 10, 2026 /PRNewswire/ -- Lindian Resources Limited ("Lindian" or the "Company") (ASX: LIN) is pleased to announce the acquisition of 100% of the SARECO Mixed Rare Earths Carbonate ("MREC") hydrometallurgical processing facility in Stepnogorsk, Kazakhstan ("SARECO", "CLP" or "MREC Facility")^[1].

Highlights

• 100% strategic acquisition (increase from 51%) of established operational MREC Facility previously owned and operated by Sumitomo Corporation ("Sumitomo") and Kazatomprom.
• SARECO is the only constructed and operational MREC/CLP Processing Facility of commercial scale outside of China, MP Materials Inc., Serra Verde and Lynas Rare Earths Ltd.
• MREC processing targeted next quarter Q4 2026 (in line with Kangankunde Rare Earths Project first production). Potential to accelerate earlier processing through potential in-country feedstock sources and stockpiles.
• Transaction documents including Sale and Purchase Agreement ("SPA") executed.
• Successful completion of due diligence including technical, legal, tax, environmental aspects by reputable global firms/ consultants.
• Proven metallurgical performance with 96% overall NdPr recovery from Kangankunde concentrate to MREC^[2], independently validated by ANSTO, and production at SARECO.
• Operational and marketing control over 100% of SARECO Facility operations and 100% of higher value MREC product (increased payabilities). 
• Full ownership provides attractive investment and exposure to 100% MREC production, free cashflows and future downstream growth (vertical integration).
• Acquisition purchase price of US$20 million cash on 100% basis, including additional land and two commercial facilities (15,500m²) and associated assets for further downstream/end user products. 
• Following recent A$100 million institutional capital raising, Lindian is fully funded to complete the SARECO acquisition and to first Kangankunde Concentrate and MREC cash flows.
• Comparative capital cost for a new CLP is in excess of A$500 million¹ and requires multi-year permitting and development timelines.
• Strong inbound interest from US, France/Europe and Japan end users for SARECO MREC. Demand from strategic parties and refiners reinforces the strategic importance of diversified/Western rare earth supply chains.

Following comprehensive legal, tax, technical and environmental due diligence, Lindian elected to increase its 51% interest contemplated in March 2026 to 100% ownership, reflecting its conviction in the Facility and the broader downstream opportunity. The acquisition also includes two additional warehouses totalling approximately 15,500m² and further land and associated assets, providing substantial capacity for future expansion as Lindian progresses further down the rare earths value chain. Following its recent A$100 million institutional capital raising, Lindian is fully funded to deliver Kangankunde through to first cashflow and advance SARECO into production.

Lindian Resources' Executive Chairman, Robert Martin, commented:

"We are delighted to acquire the remaining 49% interest in SARECO, taking Lindian's ownership to 100%. When we announced the transaction in March, we intended to hold a 51% interest through a joint venture. The work undertaken since, and what our due diligence has demonstrated about SARECO's potential, convinced us that full ownership represents the best outcome for Lindian and its shareholders.

"SARECO gives Lindian a highly capital-efficient pathway into downstream rare earth processing, together with the land and infrastructure to support further expansion over time. We have also been particularly encouraged by the strength of inbound interest from customers and strategic counterparties in the United States, Europe and Japan. With Kangankunde approaching first production, SARECO targeting first processing in Q4 2026 and the Company fully funded through to first cashflow, Lindian is exceptionally well positioned to execute its integrated mine-to-MREC strategy."

Read the full ASX announcement: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-03119419-6A1337877&v=undefined

^[1] Refer ASX announcement "Lindian-RA JV to Acquire 100% of Operating Hydromet Plant – High Value MREC Production by Q4 2026" dated 3 March 2026.

^[2] Refer ASX Announcement "ANSTO Confirms High 98% NdPr Extraction" dated 15 July 2026. The Company confirms that it is not aware of any new information or data that materially affects the information in the announcement.

Contact: Hannah Murphy hannah.murphy@lindianresources.com.au +61422858131

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