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Lindian Resources Limited ( (AU:LIN) ) just unveiled an announcement.
Iluka Resources Limited has entered into a long-term agreement with Lindian Resources for the supply of rare earth concentrate from the Kangankunde mine in Malawi. This agreement will provide Iluka’s Eneabba refinery with 6ktpa of rare earth concentrate for 15 years, representing about 10% of the refinery’s capacity. The partnership includes a US$20 million loan facility to support the development of Kangankunde. This move is part of Iluka’s strategy to diversify its feedstock sources and enhance its position in the rare earths industry, contributing to a more sustainable supply chain.
The most recent analyst rating on (AU:LIN) stock is a Buy with a A$0.50 price target. To see the full list of analyst forecasts on Lindian Resources Limited stock, see the AU:LIN Stock Forecast page.
More about Lindian Resources Limited
Lindian Resources Limited is an ASX-listed company with a focus on rare earths and bauxite assets. The company is currently developing the Kangankunde mine in Malawi, which is known for its large, high-grade rare earths deposit. Lindian aims to produce a premium monazite concentrate with a 55% TREO grade over an initial mine life of 45 years.
Average Trading Volume: 2,166,339
Technical Sentiment Signal: Sell
Current Market Cap: A$118.3M
Learn more about LIN stock on TipRanks’ Stock Analysis page.