Lindian Resources Limited has executed a technology and engineering services agreement and a long-term binding offtake agreement with Carester SAS to develop an 8,000-tonne-per-annum rare earth oxide solvent extraction and separation facility at Stepnogorsk in Kazakhstan.

Under the binding agreement, Carester will purchase 70 percent of the mixed heavy rare earths compound produced from the facility for an initial 10-year term, with two further five-year extension options. The heavy rare earths will be supplied to the Caremag Refinery in Lacq, France, which is backed by French and Japanese funding. Carester also holds a right of first refusal for 70 percent of the mixed heavy rare earths carbonate produced at the site.

“Carester brings both world-class separation expertise and a long-term route to market for our heavy rare earth production. Its Caremag facility is backed by €216 million of French and Japanese funding and is targeting approximately 15% of global dysprosium and terbium oxide production, demonstrating the strategic importance of the supply chain that we are building.”

— Robert Martin, Executive Chairman

The arrangement follows Lindian acquiring 100 percent ownership of the SARECO processing facility in Stepnogorsk on August 10, 2026, superseding earlier plans to hold a 51 percent interest and establishing complete operational and marketing control. The company also secured an option on August 31, 2026, over the 13,389-tonne Aktau heavy rare earth stockpile to serve as supplementary feedstock.

Lindian, Carester and Tetra Tech Coffey are advancing a definitive feasibility study for the separation facility, targeted for completion in the fourth quarter of 2026. Full commissioning of the SARECO hydrometallurgical processing plant is scheduled for October 2026.

Read the full announcement: Carester binding offtake, oxide separation partnership